Farther Finance Advisors LLC Sells 21,810 Shares of Cleanspark, Inc. $CLSK

Farther Finance Advisors LLC lessened its stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 82.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,496 shares of the company’s stock after selling 21,810 shares during the period. Farther Finance Advisors LLC’s holdings in Cleanspark were worth $50,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CLSK. Vanguard Group Inc. increased its stake in Cleanspark by 22.8% in the first quarter. Vanguard Group Inc. now owns 24,145,612 shares of the company’s stock valued at $162,259,000 after purchasing an additional 4,489,866 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Cleanspark by 6,449.7% in the 1st quarter. Principal Financial Group Inc. now owns 1,387,943 shares of the company’s stock valued at $9,327,000 after buying an additional 1,366,752 shares during the period. Nuveen LLC bought a new stake in Cleanspark in the 1st quarter valued at about $8,109,000. Bank of New York Mellon Corp raised its stake in Cleanspark by 128.9% during the 1st quarter. Bank of New York Mellon Corp now owns 1,579,277 shares of the company’s stock worth $10,613,000 after buying an additional 889,317 shares during the period. Finally, Public Sector Pension Investment Board bought a new position in Cleanspark in the first quarter worth approximately $5,925,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Cleanspark Trading Up 9.3%

Cleanspark stock opened at $17.43 on Tuesday. The business’s 50 day simple moving average is $11.21 and its 200 day simple moving average is $10.12. Cleanspark, Inc. has a 12 month low of $6.45 and a 12 month high of $17.97. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 20.51 and a beta of 3.88.

Cleanspark (NASDAQ:CLSK) last issued its 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 firm had revenue of $198.64 million for the quarter, compared to analyst estimates 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 previous year, the company posted ($1.03) earnings per share. As a group, equities research analysts forecast that Cleanspark, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Cleanspark

In other 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 value of $581,062.56. Following the sale, the chief operating officer 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 document filed with the SEC, which is available at the SEC website. 2.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CLSK shares. Chardan Capital reissued a “buy” rating and issued a $20.00 price objective on shares of Cleanspark in a research note on Monday, September 8th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $14.00 price target (down previously from $15.00) on shares of Cleanspark in a research report on Friday, September 26th. Macquarie boosted their price target on shares of Cleanspark from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Cantor Fitzgerald upped their price objective on shares of Cleanspark from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Wall Street Zen upgraded shares of Cleanspark from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.14.

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.