Baird Financial Group Inc. Boosts Holdings in Cleanspark, Inc. $CLSK

Baird Financial Group Inc. raised its holdings in Cleanspark, Inc. (NASDAQ:CLSK) by 48.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,736 shares of the company’s stock after buying an additional 35,818 shares during the quarter. Baird Financial Group Inc.’s holdings in Cleanspark were worth $737,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. purchased a new stake in shares of Cleanspark during the 1st quarter worth about $262,000. Ieq Capital LLC grew its holdings in shares of Cleanspark by 897.2% during the 1st quarter. Ieq Capital LLC now owns 465,049 shares of the company’s stock worth $3,125,000 after purchasing an additional 418,413 shares during the period. Harvest Portfolios Group Inc. grew its holdings in shares of Cleanspark by 2.4% during the 1st quarter. Harvest Portfolios Group Inc. now owns 84,522 shares of the company’s stock worth $568,000 after purchasing an additional 2,014 shares during the period. Corebridge Financial Inc. grew its holdings in shares of Cleanspark by 16.6% during the 1st quarter. Corebridge Financial Inc. now owns 144,216 shares of the company’s stock worth $969,000 after purchasing an additional 20,493 shares during the period. Finally, Comerica Bank purchased a new stake in shares of Cleanspark during the 1st quarter worth about $627,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Cleanspark Stock Performance

Cleanspark stock opened at $9.67 on Wednesday. The stock’s 50 day moving average price is $10.88 and its 200 day moving average price is $9.41. The firm has a market capitalization of $2.72 billion, a PE ratio of 11.38 and a beta of 3.65. Cleanspark, Inc. has a one year low of $6.45 and a one year high of $17.97.

Cleanspark (NASDAQ:CLSK) last released its earnings results on Thursday, August 7th. The company reported $0.78 EPS for the quarter, beating the consensus estimate 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 return on equity of 8.89% and a net margin of 47.98%.The business’s revenue was up 90.8% on a year-over-year basis. During the same period in the prior year, the business posted ($1.03) EPS. On average, analysts forecast that Cleanspark, Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CLSK. Cantor Fitzgerald boosted their target price on Cleanspark from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Macquarie boosted their target price on Cleanspark from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Chardan Capital reiterated a “buy” rating and set a $20.00 target price on shares of Cleanspark in a report on Monday. B. Riley boosted their price target on Cleanspark from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Finally, BTIG Research reissued a “buy” rating on shares of Cleanspark in a research report on Friday, June 13th. Ten investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $20.47.

Insider Activity at Cleanspark

In other news, COO Taylor Monnig sold 63,713 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $9.12, for a total transaction of $581,062.56. Following the completion of the transaction, the chief operating officer directly owned 120,337 shares in the company, valued at approximately $1,097,473.44. This represents a 34.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.65% of the company’s stock.

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.