Vanguard Group Inc. Purchases 4,489,866 Shares of Cleanspark, Inc. $CLSK

Vanguard Group Inc. increased its holdings in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 22.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,145,612 shares of the company’s stock after purchasing an additional 4,489,866 shares during the quarter. Vanguard Group Inc. owned 8.60% of Cleanspark worth $162,259,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of CLSK. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Cleanspark by 68.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 281,783 shares of the company’s stock valued at $2,595,000 after buying an additional 114,674 shares during the period. Algert Global LLC raised its position in shares of Cleanspark by 284.1% in the fourth quarter. Algert Global LLC now owns 198,862 shares of the company’s stock valued at $1,832,000 after buying an additional 147,086 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Cleanspark by 27.7% during the 4th quarter. Ameriprise Financial Inc. now owns 291,391 shares of the company’s stock worth $2,684,000 after acquiring an additional 63,123 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Cleanspark by 128.9% during the 1st quarter. Bank of New York Mellon Corp now owns 1,579,277 shares of the company’s stock worth $10,613,000 after acquiring an additional 889,317 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in shares of Cleanspark by 24.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 889,540 shares of the company’s stock worth $5,978,000 after acquiring an additional 175,291 shares in the last quarter. Institutional investors own 43.12% of the company’s stock.

Cleanspark Stock Performance

Shares of NASDAQ:CLSK opened at $9.49 on Thursday. Cleanspark, Inc. has a 52-week low of $6.45 and a 52-week high of $17.97. The firm has a market capitalization of $2.67 billion, a P/E ratio of 11.16 and a beta of 3.72. The stock has a 50 day moving average price of $10.99 and a 200-day moving average price of $9.51.

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 analyst estimates of $191.33 million. Cleanspark had a return on equity of 8.89% and a net margin of 47.98%.The firm’s revenue for the quarter was up 90.8% on a year-over-year basis. During the same quarter last year, the company earned ($1.03) EPS. On average, equities analysts forecast that Cleanspark, Inc. will post 0.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on CLSK. Cantor Fitzgerald lifted their target price on shares of Cleanspark from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. B. Riley boosted their price objective on Cleanspark from $16.00 to $17.00 and gave the company a “buy” rating in a report on Friday, August 8th. LADENBURG THALM/SH SH assumed coverage on Cleanspark in a report on Monday, July 28th. They issued a “buy” rating and a $20.25 target price on the stock. Macquarie upped their target price on Cleanspark from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cleanspark from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Ten equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price 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.