Fifth Third Bancorp Buys 1,694 Shares of Cleanspark, Inc. $CLSK

Fifth Third Bancorp lifted its position in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 145.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,860 shares of the company’s stock after buying an additional 1,694 shares during the period. Fifth Third Bancorp’s holdings in Cleanspark were worth $32,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nuveen LLC purchased a new position in shares of Cleanspark during the 1st quarter valued at about $8,109,000. Public Sector Pension Investment Board purchased a new position in shares of Cleanspark during the 1st quarter valued at about $5,925,000. Rhumbline Advisers raised its holdings in shares of Cleanspark by 115.8% during the 1st quarter. Rhumbline Advisers now owns 720,903 shares of the company’s stock valued at $4,844,000 after buying an additional 386,809 shares in the last quarter. Swiss National Bank raised its holdings in shares of Cleanspark by 13.8% during the 1st quarter. Swiss National Bank now owns 566,800 shares of the company’s stock valued at $3,809,000 after buying an additional 68,900 shares in the last quarter. Finally, Mutual of America Capital Management LLC purchased a new position in shares of Cleanspark during the 1st quarter valued at about $272,000. 43.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CLSK. LADENBURG THALM/SH SH began coverage on Cleanspark in a report on Monday, July 28th. They set a “buy” rating and a $20.25 price objective on the stock. Wall Street Zen raised Cleanspark from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cleanspark in a research note on Saturday, September 27th. Chardan Capital reaffirmed a “buy” rating and issued a $20.00 price target on shares of Cleanspark in a research note on Monday, September 8th. Finally, B. Riley lifted their price target on Cleanspark from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.36.

Cleanspark Stock Up 5.3%

NASDAQ CLSK opened at $15.94 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 capitalization of $4.48 billion, a PE ratio of 18.75 and a beta of 3.88. The stock’s 50 day moving average is $11.11 and its 200 day moving average is $10.02.

Cleanspark (NASDAQ:CLSK) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $191.33 million. During the same period in the previous year, the company posted ($1.03) earnings per share. The firm’s revenue was up 90.8% on a year-over-year basis. On average, research analysts anticipate that Cleanspark, Inc. will post 0.58 earnings per share for the current year.

Insider Buying and Selling

In other Cleanspark news, COO Taylor Monnig sold 63,713 shares of the business’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 sale, the chief operating officer directly owned 120,337 shares of the company’s stock, valued at approximately $1,097,473.44. The trade was a 34.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.65% of the company’s stock.

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.