Yousif Capital Management LLC Makes New Investment in Cleanspark, Inc. (NASDAQ:CLSK)

Yousif Capital Management LLC acquired a new stake in shares of Cleanspark, Inc. (NASDAQ:CLSK - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 102,525 shares of the company's stock, valued at approximately $689,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Truefg LLC bought a new stake in shares of Cleanspark during the 1st quarter valued at $84,000. Farther Finance Advisors LLC grew its position in Cleanspark by 93.4% during the first quarter. Farther Finance Advisors LLC now owns 26,306 shares of the company's stock worth $177,000 after buying an additional 12,706 shares in the last quarter. Congress Asset Management Co. bought a new position in Cleanspark in the 1st quarter worth about $2,352,000. Hennion & Walsh Asset Management Inc. increased its stake in Cleanspark by 16.3% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 53,860 shares of the company's stock worth $362,000 after acquiring an additional 7,537 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Cleanspark by 115.8% in the 1st quarter. Rhumbline Advisers now owns 720,903 shares of the company's stock worth $4,844,000 after acquiring an additional 386,809 shares during the last quarter. 43.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cleanspark news, Director Roger Paul Beynon sold 50,000 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $10.51, for a total value of $525,500.00. Following the completion of the sale, the director now owns 125,511 shares in the company, valued at approximately $1,319,120.61. This trade represents a 28.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.65% of the stock is owned by corporate insiders.

Cleanspark Stock Performance

CLSK traded down $0.15 on Monday, hitting $8.85. 29,034,334 shares of the company were exchanged, compared to its average volume of 27,865,008. The firm has a fifty day simple moving average of $9.01 and a two-hundred day simple moving average of $9.38. Cleanspark, Inc. has a 12 month low of $6.45 and a 12 month high of $20.49. The stock has a market capitalization of $2.49 billion, a PE ratio of -9.22 and a beta of 4.24.

Cleanspark (NASDAQ:CLSK - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). Cleanspark had a negative return on equity of 4.65% and a negative net margin of 35.43%. The company had revenue of $181.71 million for the quarter, compared to the consensus estimate of $196.43 million. During the same quarter in the previous year, the business earned $0.59 earnings per share. Cleanspark's revenue was up 62.5% compared to the same quarter last year. On average, equities analysts expect that Cleanspark, Inc. will post 0.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CLSK. Chardan Capital began coverage on Cleanspark in a research note on Wednesday, May 21st. They issued a "buy" rating and a $20.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Cleanspark from $12.00 to $14.00 and gave the stock an "overweight" rating in a research note on Friday, June 13th. Finally, BTIG Research restated a "buy" rating on shares of Cleanspark in a research note on Friday, June 13th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $21.00.

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.