State of Alaska Department of Revenue Buys 11,513 Shares of Cleanspark, Inc. $CLSK

State of Alaska Department of Revenue increased its position in Cleanspark, Inc. (NASDAQ:CLSK) by 7.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 165,549 shares of the company’s stock after purchasing an additional 11,513 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Cleanspark worth $1,825,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CLSK. CX Institutional bought a new position in Cleanspark in the first quarter worth $26,000. Fifth Third Bancorp lifted its position in Cleanspark by 145.3% in the second quarter. Fifth Third Bancorp now owns 2,860 shares of the company’s stock worth $32,000 after purchasing an additional 1,694 shares during the period. Strs Ohio bought a new position in Cleanspark in the first quarter worth $38,000. Quarry LP bought a new position in Cleanspark in the first quarter worth $47,000. Finally, Russell Investments Group Ltd. lifted its position in Cleanspark by 47.6% in the first quarter. Russell Investments Group Ltd. now owns 8,647 shares of the company’s stock worth $58,000 after purchasing an additional 2,788 shares during the period. 43.12% of the stock is owned by institutional investors.

Insider Buying and Selling at Cleanspark

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

Analyst Ratings Changes

Several brokerages recently commented on CLSK. Wall Street Zen raised Cleanspark from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $14.00 price objective (down from $15.00) on shares of Cleanspark in a research note on Friday, September 26th. Macquarie increased their price objective on Cleanspark from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. B. Riley increased their price objective on Cleanspark from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Finally, Cantor Fitzgerald increased their price objective on Cleanspark from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cleanspark currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.36.

Cleanspark Stock Performance

Shares of NASDAQ:CLSK opened at $15.14 on Friday. Cleanspark, Inc. has a twelve month low of $6.45 and a twelve month high of $17.97. The firm has a market cap of $4.26 billion, a PE ratio of 17.81 and a beta of 3.88. The business has a fifty day moving average of $11.02 and a 200-day moving average of $9.96.

Cleanspark (NASDAQ:CLSK) last announced its earnings results 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. Cleanspark had a return on equity of 8.89% and a net margin of 47.98%.The company had revenue of $198.64 million during the quarter, compared to analyst estimates of $191.33 million. During the same period last year, the company posted ($1.03) earnings per share. The firm’s quarterly revenue was up 90.8% compared to the same quarter last year. On average, analysts anticipate that Cleanspark, Inc. will post 0.58 EPS for the current fiscal year.

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.