Cleanspark, Inc. $CLSK Shares Purchased by Swiss National Bank

Key Points

• Swiss National Bank increased its position in Cleanspark, Inc. by 13.8% in Q1, owning 566,800 shares valued at $3.81 million.
• Cleanspark reported a strong earnings performance of $0.78 EPS for the recent quarter, significantly beating estimates and showing a 90.8% increase in revenue year-over-year.
• Analysts have a consensus "Buy" rating for Cleanspark, with price targets ranging from $15.00 to $26.00, indicating positive sentiment towards the company's stock potential.

Swiss National Bank increased its position in shares of Cleanspark, Inc. (NASDAQ:CLSK - Free Report) by 13.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 566,800 shares of the company's stock after buying an additional 68,900 shares during the quarter. Swiss National Bank owned 0.20% of Cleanspark worth $3,809,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake 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 acquiring an additional 2,196 shares during the period. Legal & General Group Plc lifted its position in shares of Cleanspark by 13.0% during the 4th quarter. Legal & General Group Plc now owns 232,322 shares of the company's stock valued at $2,140,000 after buying an additional 26,651 shares during the last quarter. Barclays PLC boosted its position in shares of Cleanspark by 96.2% in the fourth quarter. Barclays PLC now owns 763,801 shares of the company's stock valued at $7,034,000 after acquiring an additional 374,600 shares during the period. Marshall Wace LLP grew its position in shares of Cleanspark by 265.8% in the 4th quarter. Marshall Wace LLP now owns 519,401 shares of the company's stock worth $4,784,000 after buying an additional 377,400 shares during the last quarter. Finally, Freedom Investment Management Inc. boosted its position in shares of Cleanspark by 21.9% during the fourth quarter. Freedom Investment Management Inc. now owns 16,938 shares of the company's stock valued at $156,000 after purchasing an additional 3,043 shares in the last quarter. Institutional investors and hedge funds own 43.12% of the company's stock.

Cleanspark Price Performance

NASDAQ CLSK traded down $0.2890 during trading hours on Monday, reaching $9.5310. The company's stock had a trading volume of 11,542,667 shares, compared to its average volume of 25,053,604. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 11.20 and a beta of 3.72. Cleanspark, Inc. has a 1-year low of $6.45 and a 1-year high of $17.97. The company's 50-day moving average is $10.99 and its two-hundred day moving average is $9.48.

Cleanspark (NASDAQ:CLSK - Get Free Report) last announced its earnings results 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 business had revenue of $198.64 million during the quarter, compared to analysts' expectations of $191.33 million. During the same quarter in the prior year, the firm earned ($1.03) earnings per share. The business's revenue was up 90.8% compared to the same quarter last year. Equities analysts forecast that Cleanspark, Inc. will post 0.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on CLSK. JPMorgan Chase & Co. boosted their price target on Cleanspark from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Cantor Fitzgerald raised their price target on Cleanspark from $25.00 to $26.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Macquarie boosted their target price on Cleanspark from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Chardan Capital reissued a "buy" rating and issued a $20.00 price objective on shares of Cleanspark in a report on Friday, August 8th. Finally, B. Riley increased their price objective on Cleanspark from $16.00 to $17.00 and gave the company a "buy" rating in a report on Friday, August 8th. Ten research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $20.47.

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.