Baird Financial Group Inc. Takes Position in CleanSpark, Inc. (NASDAQ:CLSK)

Baird Financial Group Inc. acquired a new position in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 73,918 shares of the company's stock, valued at approximately $681,000.

Several other institutional investors also recently modified their holdings of CLSK. Compagnie Lombard Odier SCmA bought a new position in CleanSpark in the 4th quarter valued at about $31,000. GAMMA Investing LLC grew its position in shares of CleanSpark by 962.1% during the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock worth $36,000 after purchasing an additional 3,579 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of CleanSpark by 60.0% during the 4th quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company's stock worth $54,000 after purchasing an additional 2,196 shares in the last quarter. KBC Group NV grew its position in shares of CleanSpark by 36.5% during the 4th quarter. KBC Group NV now owns 10,103 shares of the company's stock worth $93,000 after purchasing an additional 2,700 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of CleanSpark during the 4th quarter worth approximately $101,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CleanSpark

In other CleanSpark news, Director Amanda Cavaleri sold 13,000 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $7.97, for a total value of $103,610.00. Following the completion of the sale, the director now directly owns 140,289 shares of the company's stock, valued at approximately $1,118,103.33. This represents a 8.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.65% of the stock is currently owned by insiders.

Analyst Ratings Changes

CLSK has been the topic of a number of analyst reports. Keefe, Bruyette & Woods initiated coverage on shares of CleanSpark in a research report on Monday, January 27th. They set an "outperform" rating and a $19.00 target price on the stock. Chardan Capital upgraded shares of CleanSpark to a "strong-buy" rating in a research report on Tuesday, April 29th. HC Wainwright restated a "buy" rating and set a $27.00 target price on shares of CleanSpark in a research report on Friday, February 7th. Needham & Company LLC assumed coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They issued a "buy" rating and a $20.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on shares of CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $20.83.

CleanSpark Stock Performance

Shares of NASDAQ:CLSK traded down $0.27 during mid-day trading on Tuesday, reaching $9.58. 5,472,309 shares of the company's stock were exchanged, compared to its average volume of 28,179,674. CleanSpark, Inc. has a twelve month low of $6.45 and a twelve month high of $20.64. The business's fifty day moving average price is $8.13 and its 200-day moving average price is $10.19. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 87.23 and a beta of 4.36.

CleanSpark (NASDAQ:CLSK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. The firm had revenue of $181.71 million for the quarter, compared to the consensus estimate of $196.43 million. During the same period in the prior year, the business earned $0.59 EPS. CleanSpark's quarterly revenue was up 62.5% on a year-over-year basis. Analysts predict that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

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.