Atria Wealth Solutions Inc. Buys Shares of 12,236 Cleanspark, Inc. $CLSK

Atria Wealth Solutions Inc. bought a new stake in Cleanspark, Inc. (NASDAQ:CLSK) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 12,236 shares of the company’s stock, valued at approximately $82,000.

A number of other hedge funds also recently added to or reduced their stakes in CLSK. Russell Investments Group Ltd. lifted its stake in Cleanspark by 60.0% in the fourth quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company’s stock valued at $54,000 after buying an additional 2,196 shares during the last quarter. Legal & General Group Plc lifted its stake in Cleanspark by 13.0% in the fourth quarter. Legal & General Group Plc now owns 232,322 shares of the company’s stock valued at $2,140,000 after buying an additional 26,651 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in Cleanspark by 12.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 26,034 shares of the company’s stock valued at $240,000 after buying an additional 2,879 shares during the last quarter. Barclays PLC lifted its stake in Cleanspark by 96.2% in the fourth quarter. Barclays PLC now owns 763,801 shares of the company’s stock valued at $7,034,000 after buying an additional 374,600 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Cleanspark by 265.8% during the fourth quarter. Marshall Wace LLP now owns 519,401 shares of the company’s stock valued at $4,784,000 after purchasing an additional 377,400 shares during the period. 43.12% of the stock is currently owned by institutional investors.

Cleanspark Stock Down 2.0%

Shares of CLSK stock opened at $9.75 on Monday. The stock has a 50-day simple moving average of $11.02 and a 200 day simple moving average of $9.52. Cleanspark, Inc. has a fifty-two week low of $6.45 and a fifty-two week high of $17.97. The stock has a market capitalization of $2.74 billion, a P/E ratio of 11.47 and a beta of 3.72.

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

Insider Buying and Selling at Cleanspark

In related news, Director Roger Paul Beynon sold 50,000 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $10.51, for a total value of $525,500.00. Following the completion of the transaction, the director owned 125,511 shares in the company, valued at $1,319,120.61. This trade represents a 28.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.65% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. 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 target on the stock. Cantor Fitzgerald raised their price target on Cleanspark from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, August 8th. B. Riley raised their price target on Cleanspark from $16.00 to $17.00 and gave the company a “buy” rating in a report on Friday, August 8th. JPMorgan Chase & Co. raised their price target on Cleanspark from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Finally, BTIG Research reissued a “buy” rating on shares of Cleanspark in a report on Friday, June 13th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.47.

Cleanspark Company Profile

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.