Mutual of America Capital Management LLC acquired a new stake in Cleanspark, Inc. (NASDAQ:CLSK - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 40,481 shares of the company's stock, valued at approximately $272,000.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Prudential Financial Inc. boosted its holdings in shares of Cleanspark by 9.1% in the fourth quarter. Prudential Financial Inc. now owns 16,835 shares of the company's stock valued at $155,000 after acquiring an additional 1,405 shares in the last quarter. Corebridge Financial Inc. boosted its holdings in Cleanspark by 1.2% during the fourth quarter. Corebridge Financial Inc. now owns 123,723 shares of the company's stock worth $1,139,000 after buying an additional 1,507 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Cleanspark by 13.5% during the fourth quarter. Mackenzie Financial Corp now owns 15,916 shares of the company's stock worth $147,000 after buying an additional 1,898 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Cleanspark by 60.0% during the fourth quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company's stock worth $54,000 after buying an additional 2,196 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in Cleanspark by 12.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 26,034 shares of the company's stock worth $240,000 after buying an additional 2,879 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. B. Riley assumed coverage on shares of Cleanspark in a report on Tuesday, July 1st. They set a "buy" rating and a $16.00 target price for the company. BTIG Research restated a "buy" rating on shares of Cleanspark in a report on Friday, June 13th. Chardan Capital restated a "buy" rating and issued a $20.00 price target on shares of Cleanspark in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cleanspark from $12.00 to $14.00 and gave the company an "overweight" rating in a research report on Friday, June 13th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $20.38.
View Our Latest Stock Analysis on CLSK
Cleanspark Stock Performance
Shares of NASDAQ:CLSK traded down $0.52 during mid-day trading on Friday, hitting $11.82. The stock had a trading volume of 17,100,446 shares, compared to its average volume of 26,447,448. The company has a market cap of $3.32 billion, a PE ratio of -12.31 and a beta of 4.23. Cleanspark, Inc. has a 12-month low of $6.45 and a 12-month high of $18.05. The company's 50 day moving average is $10.64 and its 200-day moving average is $9.55.
Cleanspark (NASDAQ:CLSK - Get Free Report) last released its earnings results 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 return on equity of 4.65% and a negative net margin of 35.43%. The company 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 company earned $0.59 EPS. The firm's quarterly revenue was up 62.5% compared to the same quarter last year. On average, equities research analysts predict that Cleanspark, Inc. will post 0.58 EPS for the current fiscal year.
Insider Transactions at Cleanspark
In other Cleanspark news, Director Roger Paul Beynon sold 50,000 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $10.51, for a total value of $525,500.00. Following the completion of the sale, the director owned 125,511 shares in the company, valued at $1,319,120.61. This represents a 28.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.65% of the stock is currently owned by insiders.
Cleanspark Profile
(
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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