Bank of New York Mellon Corp Has $10.61 Million Stock Position in Cleanspark, Inc. (NASDAQ:CLSK)

Bank of New York Mellon Corp grew its holdings in shares of Cleanspark, Inc. (NASDAQ:CLSK - Free Report) by 128.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,579,277 shares of the company's stock after buying an additional 889,317 shares during the period. Bank of New York Mellon Corp owned approximately 0.56% of Cleanspark worth $10,613,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of CLSK. Price T Rowe Associates Inc. MD raised its stake in Cleanspark by 1,018.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,687,022 shares of the company's stock valued at $15,538,000 after buying an additional 1,536,145 shares in the last quarter. Jump Financial LLC acquired a new position in Cleanspark in the 4th quarter valued at approximately $13,443,000. Principal Financial Group Inc. increased its holdings in Cleanspark by 6,449.7% during the first quarter. Principal Financial Group Inc. now owns 1,387,943 shares of the company's stock worth $9,327,000 after buying an additional 1,366,752 shares during the last quarter. Shaolin Capital Management LLC purchased a new position in shares of Cleanspark in the fourth quarter worth $8,559,000. Finally, Invesco Ltd. lifted its stake in Cleanspark by 44.2% during the 4th quarter. Invesco Ltd. now owns 2,984,362 shares of the company's stock valued at $27,486,000 after acquiring an additional 914,279 shares during the period. Hedge funds and other institutional investors own 43.12% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CLSK shares. B. Riley assumed coverage on shares of Cleanspark in a report on Tuesday, July 1st. They set a "buy" rating and a $16.00 price target for the company. BTIG Research reissued a "buy" rating on shares of Cleanspark in a research note on Friday, June 13th. JPMorgan Chase & Co. upped their price target on Cleanspark from $12.00 to $14.00 and gave the stock an "overweight" rating in a research report on Friday, June 13th. Finally, Chardan Capital reiterated a "buy" rating and set a $20.00 price target on shares of Cleanspark in a research note on Tuesday, July 8th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $20.38.

Insider Buying and Selling at Cleanspark

In other Cleanspark news, Director Roger Paul Beynon sold 50,000 shares of Cleanspark stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $10.51, for a total transaction of $525,500.00. Following the transaction, the director directly owned 125,511 shares of the company's stock, valued at $1,319,120.61. The trade was a 28.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.65% of the stock is owned by insiders.

Cleanspark Trading Down 3.1%

Shares of NASDAQ:CLSK opened at $12.39 on Tuesday. The company has a market cap of $3.48 billion, a PE ratio of -12.91 and a beta of 4.23. The stock has a 50 day moving average of $10.42 and a 200 day moving average of $9.49. Cleanspark, Inc. has a 12-month low of $6.45 and a 12-month high of $19.04.

Cleanspark (NASDAQ:CLSK - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). The company had revenue of $181.71 million during the quarter, compared to analysts' expectations of $196.43 million. Cleanspark had a negative net margin of 35.43% and a negative return on equity of 4.65%. The company's quarterly revenue was up 62.5% on a year-over-year basis. During the same period last year, the business posted $0.59 earnings per share. Equities research analysts predict that Cleanspark, Inc. will post 0.58 earnings per share for the current fiscal year.

Cleanspark Company 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.

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