Cleanspark, Inc. $CLSK Stock Holdings Increased by Belpointe Asset Management LLC

Belpointe Asset Management LLC increased its stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 87.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,364 shares of the company’s stock after purchasing an additional 9,042 shares during the quarter. Belpointe Asset Management LLC’s holdings in Cleanspark were worth $130,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its position in Cleanspark by 27.7% in the 4th quarter. Ameriprise Financial Inc. now owns 291,391 shares of the company’s stock worth $2,684,000 after buying an additional 63,123 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Cleanspark during the fourth quarter worth $323,000. D. E. Shaw & Co. Inc. boosted its position in Cleanspark by 147.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 93,023 shares of the company’s stock valued at $857,000 after purchasing an additional 55,424 shares during the last quarter. Janus Henderson Group PLC boosted its position in Cleanspark by 10.1% during the fourth quarter. Janus Henderson Group PLC now owns 115,300 shares of the company’s stock valued at $1,061,000 after purchasing an additional 10,600 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Cleanspark by 5.5% in the fourth quarter. Nuveen Asset Management LLC now owns 632,229 shares of the company’s stock valued at $5,823,000 after purchasing an additional 32,907 shares in the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

Cleanspark Price Performance

Shares of CLSK opened at $11.20 on Wednesday. The company has a market capitalization of $3.15 billion, a PE ratio of 13.18 and a beta of 3.65. Cleanspark, Inc. has a one year low of $6.45 and a one year high of $17.97. The company’s fifty day moving average price is $10.72 and its 200 day moving average price is $9.49.

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

Insider Activity at Cleanspark

In other news, COO Taylor Monnig sold 63,713 shares of the company’s 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 $1,097,473.44. The trade was a 34.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.65% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CLSK. BTIG Research reaffirmed a “buy” rating on shares of Cleanspark in a research note on Friday, June 13th. LADENBURG THALM/SH SH initiated coverage on shares of Cleanspark in a research report on Monday, July 28th. They set a “buy” rating and a $20.25 price objective on the stock. B. Riley boosted their target price on shares of Cleanspark from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Cleanspark from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Cleanspark in a research note on Monday, September 8th. Ten investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $20.47.

Cleanspark 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.