Vontobel Holding Ltd. Decreases Stock Position in Cleanspark, Inc. $CLSK

Vontobel Holding Ltd. reduced its stake in Cleanspark, Inc. (NASDAQ:CLSK) by 66.9% during the second quarter, Holdings Channel.com reports. The firm owned 70,955 shares of the company’s stock after selling 143,402 shares during the period. Vontobel Holding Ltd.’s holdings in Cleanspark were worth $783,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CLSK. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 4,489,866 shares during the period. Invesco Ltd. increased its holdings in Cleanspark by 20.5% during the 1st quarter. Invesco Ltd. now owns 3,597,402 shares of the company’s stock valued at $24,175,000 after purchasing an additional 613,040 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Cleanspark by 26.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,117,672 shares of the company’s stock valued at $20,951,000 after purchasing an additional 652,811 shares during the period. Northern Trust Corp increased its holdings in Cleanspark by 16.0% during the 1st quarter. Northern Trust Corp now owns 2,807,078 shares of the company’s stock valued at $18,864,000 after purchasing an additional 388,021 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings 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 valued at $10,613,000 after purchasing an additional 889,317 shares during the period. 43.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on CLSK shares. Chardan Capital boosted their price objective on shares of Cleanspark from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Monday. BTIG Research boosted their price target on shares of Cleanspark from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Monday. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $14.00 price target (down previously from $15.00) on shares of Cleanspark in a research report on Friday, September 26th. B. Riley upped their target price on Cleanspark from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Finally, Cantor Fitzgerald upped their target price on Cleanspark from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Cleanspark has an average rating of “Moderate Buy” and an average price target of $22.03.

Insider Buying and Selling at Cleanspark

In other news, COO Taylor Monnig sold 63,713 shares of Cleanspark stock in a transaction dated 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 directly owned 120,337 shares of the company’s stock, valued at $1,097,473.44. The trade was a 34.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.65% of the stock is currently owned by insiders.

Cleanspark Stock Performance

Shares of CLSK stock opened at $20.04 on Tuesday. The company’s 50-day moving average is $12.03 and its 200 day moving average is $10.51. Cleanspark, Inc. has a one year low of $6.45 and a one year high of $22.12. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 23.58 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, topping the consensus estimate of $0.07 by $0.71. The company had revenue of $198.64 million for the quarter, compared to analysts’ expectations of $191.33 million. Cleanspark had a net margin of 47.98% and a return on equity of 8.89%. The firm’s quarterly revenue was up 90.8% on a year-over-year basis. During the same quarter last year, the company posted ($1.03) earnings per share. As a group, research analysts predict that Cleanspark, Inc. will post 0.58 earnings per share 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.