State of New Jersey Common Pension Fund D Buys Shares of 190,825 Cleanspark, Inc. $CLSK

State of New Jersey Common Pension Fund D purchased a new stake in Cleanspark, Inc. (NASDAQ:CLSK) during the second quarter, according to its most recent filing with the SEC. The firm purchased 190,825 shares of the company’s stock, valued at approximately $2,105,000. State of New Jersey Common Pension Fund D owned 0.07% of Cleanspark at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. grew its stake in Cleanspark by 14.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 99,315 shares of the company’s stock worth $667,000 after buying an additional 12,417 shares during the last quarter. KBC Group NV grew its stake in Cleanspark by 39.4% during the 1st quarter. KBC Group NV now owns 14,086 shares of the company’s stock valued at $95,000 after purchasing an additional 3,983 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Cleanspark by 934.3% in the 1st quarter. Amalgamated Bank now owns 79,298 shares of the company’s stock valued at $533,000 after buying an additional 71,631 shares during the period. New York State Teachers Retirement System acquired a new position in shares of Cleanspark in the 1st quarter valued at about $1,471,000. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Cleanspark by 60.5% in the 1st quarter. Vontobel Holding Ltd. now owns 214,357 shares of the company’s stock valued at $1,440,000 after buying an additional 80,825 shares during the period. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

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 transaction of $581,062.56. Following the transaction, the chief operating officer 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 filing with the SEC, which is accessible through the SEC website. Insiders own 2.65% of the company’s stock.

Cleanspark Trading Down 1.4%

Shares of NASDAQ CLSK opened at $18.89 on Thursday. The stock has a market cap of $5.31 billion, a PE ratio of 22.22 and a beta of 3.88. Cleanspark, Inc. has a 12-month low of $6.45 and a 12-month high of $23.61. The company has a 50-day moving average of $14.33 and a 200 day moving average of $11.54.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $14.00 price target (down previously from $15.00) on shares of Cleanspark in a report on Friday, September 26th. Chardan Capital lifted their price objective on Cleanspark from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Needham & Company LLC boosted their price objective on Cleanspark from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. HC Wainwright set a $30.00 target price on Cleanspark and gave the company a “buy” rating in a research report on Wednesday. Finally, Macquarie lifted their price target on Cleanspark from $20.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.13.

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.