Cleanspark, Inc. (NASDAQ:CLSK) Stock Holdings Increased by Clarity Capital Partners LLC

Clarity Capital Partners LLC lifted its stake in shares of Cleanspark, Inc. (NASDAQ:CLSK - Free Report) by 29.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 272,950 shares of the company's stock after buying an additional 62,308 shares during the quarter. Cleanspark accounts for approximately 0.7% of Clarity Capital Partners LLC's holdings, making the stock its 28th largest holding. Clarity Capital Partners LLC owned about 0.10% of Cleanspark worth $1,834,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Prudential Financial Inc. raised its holdings in shares of Cleanspark by 9.1% during the 4th quarter. Prudential Financial Inc. now owns 16,835 shares of the company's stock valued at $155,000 after buying an additional 1,405 shares during the period. Corebridge Financial Inc. grew its stake in Cleanspark by 1.2% during the 4th quarter. Corebridge Financial Inc. now owns 123,723 shares of the company's stock valued at $1,139,000 after purchasing an additional 1,507 shares in the last quarter. Mackenzie Financial Corp grew its stake in Cleanspark by 13.5% during the 4th quarter. Mackenzie Financial Corp now owns 15,916 shares of the company's stock valued at $147,000 after purchasing an additional 1,898 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Cleanspark by 60.0% during the 4th quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company's stock valued at $54,000 after purchasing an additional 2,196 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its stake in Cleanspark by 12.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 26,034 shares of the company's stock valued at $240,000 after purchasing an additional 2,879 shares in the last quarter. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

Cleanspark Price Performance

Shares of NASDAQ CLSK traded down $0.19 during mid-day trading on Friday, hitting $12.30. The company had a trading volume of 20,908,929 shares, compared to its average volume of 27,962,937. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -12.81 and a beta of 4.23. Cleanspark, Inc. has a 12 month low of $6.45 and a 12 month high of $20.49. The firm's 50 day simple moving average is $9.58 and its two-hundred day simple moving average is $9.31.

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 the consensus estimate of $0.03 by ($0.05). The business had revenue of $181.71 million for the quarter, compared to the consensus estimate of $196.43 million. Cleanspark had a negative net margin of 35.43% and a negative return on equity of 4.65%. The firm's revenue was up 62.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. Equities analysts forecast that Cleanspark, Inc. will post 0.58 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on CLSK. BTIG Research restated a "buy" rating on shares of Cleanspark in a research note on Friday, June 13th. B. Riley started coverage on Cleanspark in a research note on Tuesday, July 1st. They set a "buy" rating and a $16.00 price objective for the company. JPMorgan Chase & Co. lifted their target price 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 issued a $20.00 target price on shares of Cleanspark in a research report on Wednesday, June 25th. Eight 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 company currently has a consensus rating of "Buy" and an average target price of $20.38.

Insiders Place Their Bets

In other Cleanspark news, Director Roger Paul Beynon sold 50,000 shares of Cleanspark stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $10.51, for a total transaction of $525,500.00. Following the sale, the director 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.65% of the stock is owned by insiders.

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.