US Bancorp DE Boosts Stake in Cleanspark, Inc. (NASDAQ:CLSK)

US Bancorp DE raised its holdings in Cleanspark, Inc. (NASDAQ:CLSK) by 2,579.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 25,298 shares of the company’s stock after acquiring an additional 24,354 shares during the period. US Bancorp DE’s holdings in Cleanspark were worth $170,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CX Institutional acquired a new position in Cleanspark in the 1st quarter valued at $26,000. Russell Investments Group Ltd. raised its holdings in Cleanspark by 60.0% in the 4th quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company’s stock valued at $54,000 after acquiring an additional 2,196 shares during the last quarter. GAMMA Investing LLC raised its holdings in Cleanspark by 207.8% in the 1st quarter. GAMMA Investing LLC now owns 12,163 shares of the company’s stock valued at $82,000 after acquiring an additional 8,212 shares during the last quarter. Truefg LLC acquired a new stake in shares of Cleanspark during the 1st quarter worth $84,000. Finally, Apollon Wealth Management LLC acquired a new stake in shares of Cleanspark during the 1st quarter worth $85,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Cleanspark Trading Down 2.0%

Shares of NASDAQ CLSK opened at $9.75 on Friday. The stock has a fifty day moving average price of $11.02 and a 200 day moving average price of $9.53. The company has a market cap of $2.74 billion, a P/E ratio of 11.47 and a beta of 3.72. Cleanspark, Inc. has a 12-month low of $6.45 and a 12-month high of $17.97.

Cleanspark (NASDAQ:CLSK) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.71. The company had revenue of $198.64 million during the quarter, compared to analysts’ expectations of $191.33 million. Cleanspark had a net margin of 47.98% and a return on equity of 8.89%. The firm’s revenue for the quarter was up 90.8% on a year-over-year basis. During the same period in the prior year, the company posted ($1.03) EPS. On average, sell-side analysts forecast that Cleanspark, Inc. will post 0.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Roger Paul Beynon sold 50,000 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $10.51, for a total transaction of $525,500.00. Following the transaction, the director owned 125,511 shares of the company’s stock, valued at approximately $1,319,120.61. This trade represents a 28.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.65% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Macquarie upped their price objective on Cleanspark from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. LADENBURG THALM/SH SH assumed coverage on Cleanspark in a report on Monday, July 28th. They set a “buy” rating and a $20.25 price objective for the company. JPMorgan Chase & Co. upped their price objective on Cleanspark from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. B. Riley upped their price objective on Cleanspark from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Finally, Wall Street Zen upgraded Cleanspark from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cleanspark currently has an average rating of “Moderate Buy” and an average price target of $20.47.

About Cleanspark

CleanSpark, Inc operates as a bitcoin miner in the Americas. It owns and operates data centers that primarily run on low-carbon power. Its infrastructure supports Bitcoin, a digital commodity and a tool for financial independence and inclusion. The company was formerly known as Stratean Inc and changed its name to CleanSpark, Inc in November 2016.