MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $7.73 Million Holdings in Cleanspark, Inc. $CLSK

Key Points

• Mirae Asset Global ETFs Holdings Ltd. increased its stake in Cleanspark, Inc. by 15.9%, acquiring an additional 158,072 shares during the first quarter, bringing its total ownership to 1,149,529 shares.
• Cleanspark reported a quarterly earnings per share of $0.78, significantly exceeding forecasts of $0.07, and a 90.8% year-over-year revenue increase, totaling $198.64 million.
• Analysts maintain a consensus "Buy" rating for Cleanspark, with an average price target of $20.47 after recent upgrades from multiple research firms.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Cleanspark, Inc. (NASDAQ:CLSK - Free Report) by 15.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,149,529 shares of the company's stock after purchasing an additional 158,072 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.41% of Cleanspark worth $7,725,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CLSK. CX Institutional bought a new position in shares of Cleanspark in the 1st quarter worth $26,000. Quarry LP bought a new position in shares of Cleanspark in the 1st quarter worth $47,000. Russell Investments Group Ltd. boosted its position in shares of Cleanspark by 47.6% in the 1st quarter. Russell Investments Group Ltd. now owns 8,647 shares of the company's stock worth $58,000 after purchasing an additional 2,788 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Cleanspark in the 1st quarter worth $68,000. Finally, Neuberger Berman Group LLC bought a new position in shares of Cleanspark in the 1st quarter worth $71,000. 43.12% of the stock is currently owned by institutional investors.

Cleanspark Price Performance

Shares of CLSK traded up $0.15 during midday trading on Friday, hitting $10.35. The stock had a trading volume of 17,475,980 shares, compared to its average volume of 16,552,274. The company has a 50 day simple moving average of $10.75 and a two-hundred day simple moving average of $9.45. Cleanspark, Inc. has a twelve month low of $6.45 and a twelve month high of $17.97. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 12.18 and a beta of 3.65.

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 the consensus estimate of $0.07 by $0.71. Cleanspark had a return on equity of 8.89% and a net margin of 47.98%.The firm had revenue of $198.64 million for the quarter, compared to the consensus estimate of $191.33 million. During the same quarter last year, the business posted ($1.03) EPS. The company's revenue for the quarter was up 90.8% on a year-over-year basis. Analysts forecast that Cleanspark, Inc. will post 0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CLSK shares. Cantor Fitzgerald raised their price target on Cleanspark from $25.00 to $26.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Macquarie lifted their target price on Cleanspark from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Wall Street Zen upgraded Cleanspark from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. lifted their target price on Cleanspark from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, BTIG Research reiterated a "buy" rating on shares of Cleanspark in a report on Friday, June 13th. Ten equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $20.47.

Insider Activity

In related news, COO Taylor Monnig sold 63,713 shares of Cleanspark stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $9.12, for a total value of $581,062.56. Following the sale, the chief operating officer owned 120,337 shares of the company's stock, valued at approximately $1,097,473.44. The trade was a 34.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.65% of the company's stock.

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.