Cleanspark, Inc. $CLSK Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 562.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,983 shares of the company’s stock after acquiring an additional 10,173 shares during the quarter. GAMMA Investing LLC’s holdings in Cleanspark were worth $132,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CLSK. Nuveen LLC acquired a new position in Cleanspark in the first quarter worth approximately $8,109,000. Public Sector Pension Investment Board acquired a new position in Cleanspark in the first quarter worth approximately $5,925,000. Rhumbline Advisers grew its position in Cleanspark by 115.8% in the first quarter. Rhumbline Advisers now owns 720,903 shares of the company’s stock worth $4,844,000 after buying an additional 386,809 shares during the last quarter. Swiss National Bank grew its position in Cleanspark by 13.8% in the first quarter. Swiss National Bank now owns 566,800 shares of the company’s stock worth $3,809,000 after buying an additional 68,900 shares during the last quarter. Finally, Mutual of America Capital Management LLC acquired a new position in Cleanspark in the first quarter worth approximately $272,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

Insider Buying and Selling at Cleanspark

In related news, COO Taylor Monnig sold 63,713 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $9.12, for a total transaction of $581,062.56. Following the completion of the sale, the chief operating officer directly owned 120,337 shares of the company’s stock, valued at $1,097,473.44. The trade was a 34.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.65% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on CLSK. Macquarie lifted their price target on shares of Cleanspark from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Wall Street Zen raised shares of Cleanspark from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. B. Riley lifted their target price on shares of Cleanspark from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Chardan Capital reissued a “buy” rating and set a $20.00 target price on shares of Cleanspark in a research note on Monday, September 8th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $14.00 target price (down previously from $15.00) on shares of Cleanspark in a research note on Friday, September 26th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.36.

Cleanspark Price Performance

Shares of CLSK opened at $14.50 on Wednesday. The company has a market capitalization of $4.08 billion, a PE ratio of 17.06 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 $10.93 and its 200 day moving average price is $9.88.

Cleanspark (NASDAQ:CLSK) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.78 earnings per share (EPS) for the quarter, topping 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 net margin of 47.98% and a return on equity of 8.89%. The business’s revenue was up 90.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.03) EPS. Analysts anticipate that Cleanspark, Inc. will post 0.58 earnings per share for the current year.

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.