Swiss National Bank Increases Position in Cleanspark, Inc. $CLSK

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 grew its holdings in shares of Cleanspark, Inc. (NASDAQ:CLSK - Free Report) by 13.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 566,800 shares of the company's stock after acquiring an additional 68,900 shares during the period. Swiss National Bank owned 0.20% of Cleanspark worth $3,809,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. CX Institutional acquired a new stake in Cleanspark during the 1st quarter worth about $26,000. Russell Investments Group Ltd. grew its holdings in 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. GAMMA Investing LLC grew its holdings in Cleanspark by 207.8% during the 1st quarter. GAMMA Investing LLC now owns 12,163 shares of the company's stock worth $82,000 after acquiring an additional 8,212 shares during the period. Atria Wealth Solutions Inc. acquired a new stake in Cleanspark during the 1st quarter worth about $82,000. Finally, Truefg LLC acquired a new stake in Cleanspark during the 1st quarter worth about $84,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CLSK shares. Wall Street Zen upgraded Cleanspark from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Cantor Fitzgerald raised their target price on Cleanspark from $25.00 to $26.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. BTIG Research restated a "buy" rating on shares of Cleanspark in a research note on Friday, June 13th. LADENBURG THALM/SH SH initiated coverage on Cleanspark in a research note on Monday, July 28th. They issued a "buy" rating and a $20.25 target price for the company. Finally, Chardan Capital restated a "buy" rating and issued a $20.00 target price on shares of Cleanspark in a research note on Friday, August 8th. Ten equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $20.47.

Cleanspark Stock Up 2.4%

CLSK stock traded up $0.23 during mid-day trading on Tuesday, reaching $9.68. 12,666,999 shares of the company traded hands, compared to its average volume of 19,456,618. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 11.39 and a beta of 3.72. Cleanspark, Inc. has a fifty-two week low of $6.45 and a fifty-two week high of $17.97. The firm's 50 day moving average price is $11.00 and its 200 day moving average price is $9.47.

Cleanspark (NASDAQ:CLSK - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.71. The business had revenue of $198.64 million during the quarter, compared to the consensus estimate of $191.33 million. Cleanspark had a return on equity of 8.89% and a net margin of 47.98%.The company's quarterly revenue was up 90.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.03) EPS. On average, analysts anticipate that Cleanspark, Inc. will post 0.58 EPS for the current fiscal year.

About Cleanspark

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.