Ieq Capital LLC Has $3.13 Million Stock Holdings in Cleanspark, Inc. $CLSK

Key Points

• Ieq Capital LLC significantly increased its stake in Cleanspark, acquiring an additional 418,413 shares and now holds approximately 0.17% of the company valued at $3,125,000.
• Multiple institutional investors have also increased their positions in Cleanspark, raising institutional ownership to 43.12% of the stock.
• Research analysts are optimistic about Cleanspark's future, as evidenced by recent target price increases; the stock has a consensus rating of "Buy" with an average price target of $20.47.

Ieq Capital LLC lifted its position in shares of Cleanspark, Inc. (NASDAQ:CLSK - Free Report) by 897.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 465,049 shares of the company's stock after acquiring an additional 418,413 shares during the period. Ieq Capital LLC owned 0.17% of Cleanspark worth $3,125,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Harvest Portfolios Group Inc. grew its holdings in Cleanspark by 2.4% in the 1st quarter. Harvest Portfolios Group Inc. now owns 84,522 shares of the company's stock worth $568,000 after buying an additional 2,014 shares in the last quarter. Corebridge Financial Inc. grew its holdings in Cleanspark by 16.6% in the 1st quarter. Corebridge Financial Inc. now owns 144,216 shares of the company's stock worth $969,000 after buying an additional 20,493 shares in the last quarter. Comerica Bank bought a new position in Cleanspark in the 1st quarter valued at about $627,000. MetLife Investment Management LLC grew its position in Cleanspark by 7.8% in the 1st quarter. MetLife Investment Management LLC now owns 161,691 shares of the company's stock valued at $1,087,000 after buying an additional 11,691 shares in the last quarter. Finally, Partners Capital Investment Group LLP bought a new position in Cleanspark in the 1st quarter valued at about $201,000. 43.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CLSK has been the subject of a number of recent analyst reports. B. Riley increased their target price on shares of Cleanspark from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, August 8th. BTIG Research reaffirmed a "buy" rating on shares of Cleanspark in a research note on Friday, June 13th. JPMorgan Chase & Co. increased their price target on Cleanspark from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Wall Street Zen raised Cleanspark from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Chardan Capital restated a "buy" rating and set a $20.00 price objective on shares of Cleanspark in a research report on Friday, August 8th. Ten equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $20.47.

Cleanspark Price Performance

Shares of CLSK traded down $0.31 during trading hours on Thursday, hitting $9.13. 10,954,209 shares of the company were exchanged, compared to its average volume of 24,701,252. The company has a market capitalization of $2.57 billion, a PE ratio of 10.76 and a beta of 3.65. The firm has a fifty day simple moving average of $11.01 and a 200-day simple moving average of $9.43. Cleanspark, Inc. has a one year low of $6.45 and a one year high of $17.97.

Cleanspark (NASDAQ:CLSK - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.07 by $0.71. Cleanspark had a net margin of 47.98% and a return on equity of 8.89%. The company had revenue of $198.64 million during the quarter, compared to analysts' expectations of $191.33 million. During the same period last year, the company posted ($1.03) earnings per share. The business's revenue for the quarter was up 90.8% on a year-over-year basis. Sell-side analysts expect that Cleanspark, Inc. will post 0.58 EPS for the current year.

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.