Landscape Capital Management L.L.C. Acquires Shares of 38,955 Cleanspark, Inc. $CLSK

Key Points

• Landscape Capital Management L.L.C. has invested approximately $262,000 in Cleanspark, Inc. by acquiring 38,955 shares during the first quarter.
• Multiple institutional investors are increasing their stakes in Cleanspark, with Russell Investments Group Ltd. leading with a 47.6% increase in its holdings.
• Cleanspark reported impressive earnings with $0.78 EPS, significantly beating analysts' expectations of $0.07, alongside a 90.8% year-over-year revenue growth.

Landscape Capital Management L.L.C. acquired a new stake in shares of Cleanspark, Inc. (NASDAQ:CLSK - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 38,955 shares of the company's stock, valued at approximately $262,000.

Several other large investors also recently added to or reduced their stakes in the company. Ieq Capital LLC increased its stake in shares of Cleanspark by 897.2% in the first quarter. Ieq Capital LLC now owns 465,049 shares of the company's stock worth $3,125,000 after acquiring an additional 418,413 shares during the last quarter. Harvest Portfolios Group Inc. increased its position in Cleanspark by 2.4% during the first 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 during the last quarter. Corebridge Financial Inc. boosted its holdings in Cleanspark by 16.6% during the first quarter. Corebridge Financial Inc. now owns 144,216 shares of the company's stock valued at $969,000 after acquiring an additional 20,493 shares during the period. Comerica Bank bought a new stake in Cleanspark during the first quarter valued at about $627,000. Finally, MetLife Investment Management LLC boosted its holdings in Cleanspark by 7.8% during the first quarter. MetLife Investment Management LLC now owns 161,691 shares of the company's stock valued at $1,087,000 after acquiring an additional 11,691 shares during the period. 43.12% of the stock is owned by institutional investors and hedge funds.

Cleanspark Stock Performance

Shares of NASDAQ CLSK traded up $0.16 during mid-day trading on Friday, hitting $9.24. 18,339,273 shares of the stock were exchanged, compared to its average volume of 17,955,926. The company has a market cap of $2.60 billion, a P/E ratio of 10.87 and a beta of 3.65. The stock's fifty day simple moving average is $10.94 and its two-hundred day simple moving average is $9.42. Cleanspark, Inc. has a twelve month low of $6.45 and a twelve month high of $17.97.

Cleanspark (NASDAQ:CLSK - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.78 earnings per share 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 analyst estimates of $191.33 million. Cleanspark had a net margin of 47.98% and a return on equity of 8.89%. Cleanspark's revenue for the quarter was up 90.8% compared to the same quarter last year. During the same quarter last year, the business posted ($1.03) earnings per share. As a group, equities research analysts predict that Cleanspark, Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CLSK has been the subject of several research reports. Macquarie increased their target price on shares of Cleanspark from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Cantor Fitzgerald raised their price target on shares of Cleanspark from $25.00 to $26.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. LADENBURG THALM/SH SH initiated coverage on shares of Cleanspark in a research note on Monday, July 28th. They set a "buy" rating and a $20.25 price target for the company. BTIG Research restated a "buy" rating on shares of Cleanspark in a research note on Friday, June 13th. Finally, Wall Street Zen upgraded shares of Cleanspark from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Ten investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average 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.