Northern Trust Corp Has $18.86 Million Position in Cleanspark, Inc. $CLSK

Northern Trust Corp lifted its holdings in shares of Cleanspark, Inc. (NASDAQ:CLSK - Free Report) by 16.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,807,078 shares of the company's stock after buying an additional 388,021 shares during the period. Northern Trust Corp owned approximately 1.00% of Cleanspark worth $18,864,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CX Institutional acquired a new stake in Cleanspark in the first quarter worth approximately $26,000. Russell Investments Group Ltd. lifted its position in Cleanspark by 47.6% in the first quarter. Russell Investments Group Ltd. now owns 8,647 shares of the company's stock worth $58,000 after purchasing an additional 2,788 shares during the period. Neuberger Berman Group LLC acquired a new stake in Cleanspark in the first quarter worth approximately $71,000. GAMMA Investing LLC lifted its position in Cleanspark by 207.8% in the first quarter. GAMMA Investing LLC now owns 12,163 shares of the company's stock worth $82,000 after purchasing an additional 8,212 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new stake in Cleanspark in the first quarter worth approximately $82,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Cleanspark Price Performance

Shares of NASDAQ:CLSK traded up $0.16 on Friday, reaching $9.24. 18,339,273 shares of the company traded hands, compared to its average volume of 17,955,926. Cleanspark, Inc. has a fifty-two week low of $6.45 and a fifty-two week high of $17.97. The company's 50 day moving average is $10.94 and its 200-day moving average is $9.42. The stock has a market capitalization of $2.60 billion, a PE ratio of 10.87 and a beta of 3.65.

Cleanspark (NASDAQ:CLSK - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.71. Cleanspark had a return on equity of 8.89% and a net margin of 47.98%.The company had revenue of $198.64 million during the quarter, compared to the consensus estimate of $191.33 million. During the same quarter in the prior year, the firm earned ($1.03) EPS. The company's quarterly revenue was up 90.8% compared to the same quarter last year. As a group, analysts expect that Cleanspark, Inc. will post 0.58 EPS for the current year.

Wall Street Analyst Weigh In

CLSK has been the subject of a number of research analyst reports. Wall Street Zen upgraded Cleanspark from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. B. Riley upped their target price on Cleanspark from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Cantor Fitzgerald upped their target price on Cleanspark from $25.00 to $26.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. BTIG Research restated a "buy" rating on shares of Cleanspark in a research report on Friday, June 13th. Finally, LADENBURG THALM/SH SH initiated coverage on Cleanspark in a research report on Monday, July 28th. They issued a "buy" rating and a $20.25 target price for the company. Ten equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $20.47.

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.