BIT Capital GmbH cut its stake in Cleanspark, Inc. (NASDAQ:CLSK - Free Report) by 51.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 585,246 shares of the company's stock after selling 629,931 shares during the period. Cleanspark makes up 0.3% of BIT Capital GmbH's holdings, making the stock its 26th largest position. BIT Capital GmbH owned approximately 0.21% of Cleanspark worth $3,933,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CX Institutional bought a new stake in Cleanspark during the 1st quarter worth about $26,000. Russell Investments Group Ltd. grew its position in shares of Cleanspark by 60.0% in the fourth 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 during the last quarter. GAMMA Investing LLC grew its position in shares of Cleanspark by 207.8% in the first quarter. GAMMA Investing LLC now owns 12,163 shares of the company's stock valued at $82,000 after purchasing an additional 8,212 shares during the last quarter. Truefg LLC bought a new position in shares of Cleanspark during the first quarter worth approximately $84,000. Finally, Apollon Wealth Management LLC bought a new position in shares of Cleanspark during the first quarter worth approximately $85,000. 43.12% of the stock is owned by institutional investors and hedge funds.
Cleanspark Stock Performance
NASDAQ:CLSK traded down $0.15 during trading hours on Tuesday, reaching $10.47. The company's stock had a trading volume of 5,244,831 shares, compared to its average volume of 25,448,900. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -10.91 and a beta of 3.72. The firm has a 50-day simple moving average of $10.83 and a 200-day simple moving average of $9.56. Cleanspark, Inc. has a 1 year low of $6.45 and a 1 year high of $17.97.
Cleanspark (NASDAQ:CLSK - Get Free Report) last released its quarterly earnings data 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). Cleanspark had a negative net margin of 35.43% and a negative return on equity of 4.65%. The firm had revenue of $181.71 million during the quarter, compared to analysts' expectations of $196.43 million. During the same quarter in the previous year, the firm posted $0.59 EPS. Cleanspark's revenue was up 62.5% compared to the same quarter last year. Equities analysts anticipate that Cleanspark, Inc. will post 0.58 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have weighed in on CLSK. Cantor Fitzgerald raised their target price on shares of Cleanspark from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Chardan Capital reissued a "buy" rating and set a $20.00 price objective on shares of Cleanspark in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of Cleanspark from a "sell" rating to a "hold" rating in a report on Saturday. LADENBURG THALM/SH SH started coverage on shares of Cleanspark in a report on Monday, July 28th. They issued a "buy" rating and a $20.25 target price on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Cleanspark from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cleanspark has a consensus rating of "Buy" and a consensus target price of $20.69.
Check Out Our Latest Analysis on Cleanspark
Insider Buying and Selling at Cleanspark
In related news, Director Roger Paul Beynon sold 50,000 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.65% of the company's stock.
Cleanspark Company Profile
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Free Report)
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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