WINTON GROUP Ltd boosted its holdings in shares of Cleanspark, Inc. (NASDAQ:CLSK – Free Report) by 58.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,834 shares of the company’s stock after purchasing an additional 42,634 shares during the quarter. WINTON GROUP Ltd’s holdings in Cleanspark were worth $1,685,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Markowski Investments purchased a new position in Cleanspark in the 2nd quarter valued at about $25,000. Quarry LP purchased a new stake in Cleanspark during the 3rd quarter worth approximately $26,000. Morse Asset Management Inc acquired a new position in shares of Cleanspark during the third quarter valued at approximately $32,000. CIBC Private Wealth Group LLC raised its holdings in shares of Cleanspark by 5,081.0% during the third quarter. CIBC Private Wealth Group LLC now owns 3,005 shares of the company’s stock valued at $44,000 after acquiring an additional 2,947 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Cleanspark by 2,019.6% in the third quarter. Parallel Advisors LLC now owns 3,900 shares of the company’s stock valued at $57,000 after acquiring an additional 3,716 shares in the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price objective on Cleanspark from $16.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, July 28th. Citizens Jmp initiated coverage on shares of Cleanspark in a research report on Wednesday, June 24th. They issued a “market outperform” rating and a $27.00 target price for the company. BTIG Research restated a “buy” rating and set a $26.00 price target on shares of Cleanspark in a research report on Tuesday, July 14th. B. Riley Financial upped their price objective on shares of Cleanspark from $19.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Citigroup assumed coverage on shares of Cleanspark in a report on Wednesday, June 24th. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.88.
Cleanspark Stock Up 6.8%
Shares of CLSK opened at $13.67 on Friday. Cleanspark, Inc. has a 52-week low of $8.00 and a 52-week high of $23.61. The company has a market capitalization of $3.51 billion, a PE ratio of -3.63 and a beta of 3.84. The stock has a fifty day simple moving average of $12.93 and a two-hundred day simple moving average of $12.87. The company has a quick ratio of 2.11, a current ratio of 5.91 and a debt-to-equity ratio of 2.34.
Cleanspark (NASDAQ:CLSK – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.42). Cleanspark had a negative net margin of 146.90% and a negative return on equity of 18.63%. The firm had revenue of $138.01 million for the quarter, compared to analyst estimates of $142.37 million. During the same period in the previous year, the firm posted $0.90 EPS. The company’s revenue was down 30.5% compared to the same quarter last year. As a group, equities analysts forecast that Cleanspark, Inc. will post -1.4 EPS for the current year.
Insider Buying and Selling
In other Cleanspark news, COO Taylor Monnig sold 25,249 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $13.34, for a total value of $336,821.66. Following the transaction, the chief operating officer directly owned 236,114 shares in the company, valued at $3,149,760.76. The trade was a 9.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 29,816 shares of company stock worth $394,352 over the last quarter. 2.08% of the stock is owned by insiders.
Cleanspark Company Profile
CleanSpark, Inc (NASDAQ: CLSK) is a bitcoin mining and energy technology company headquartered in Henderson, Nevada. The company owns and operates data centers that use specialized computing equipment to validate transactions on the Bitcoin network and earn bitcoin rewards.
CleanSpark focuses on developing and expanding mining infrastructure, with operations in the United States, including facilities in Georgia, Mississippi, Tennessee and Wyoming. Its activities include acquiring and deploying mining equipment, managing data-center operations and securing reliable, cost-effective power for its facilities.
The company historically developed software and energy-management solutions before shifting its primary focus toward bitcoin mining.
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