New York State Teachers Retirement System Has $2.72 Million Holdings in Cleanspark, Inc. $CLSK

Key Points

• The New York State Teachers Retirement System increased its stake in Cleanspark, Inc. by 12.5% during the second quarter, owning approximately $2.72 million worth of shares.
• Several institutional investors have significantly raised their holdings in Cleanspark, with Vanguard Group increasing its position by 22.8%.
• Research analysts have a positive outlook on Cleanspark, with an average target price of $22.83 and several analysts issuing "buy" ratings.

New York State Teachers Retirement System lifted its position in shares of Cleanspark, Inc. (NASDAQ:CLSK - Free Report) by 12.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 246,200 shares of the company's stock after buying an additional 27,300 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Cleanspark worth $2,716,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Cleanspark by 22.8% during the first quarter. Vanguard Group Inc. now owns 24,145,612 shares of the company's stock worth $162,259,000 after buying an additional 4,489,866 shares during the period. Invesco Ltd. grew its holdings in Cleanspark by 20.5% in the first quarter. Invesco Ltd. now owns 3,597,402 shares of the company's stock worth $24,175,000 after purchasing an additional 613,040 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Cleanspark by 26.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,117,672 shares of the company's stock worth $20,951,000 after purchasing an additional 652,811 shares during the period. Northern Trust Corp grew its holdings in Cleanspark by 16.0% in the first quarter. Northern Trust Corp now owns 2,807,078 shares of the company's stock worth $18,864,000 after purchasing an additional 388,021 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Cleanspark by 128.9% in the first quarter. Bank of New York Mellon Corp now owns 1,579,277 shares of the company's stock worth $10,613,000 after purchasing an additional 889,317 shares during the period. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CLSK shares. Cantor Fitzgerald raised their price target on shares of Cleanspark from $23.00 to $24.00 and gave the stock an "overweight" rating in a report on Monday, October 6th. Macquarie raised their price target on shares of Cleanspark from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. LADENBURG THALM/SH SH initiated coverage on shares of Cleanspark in a report on Monday, July 28th. They issued a "buy" rating and a $20.25 price target for the company. BTIG Research raised their price objective on shares of Cleanspark from $22.00 to $26.00 and gave the company a "buy" rating in a research note on Monday, October 13th. Finally, Needham & Company LLC raised their price objective on shares of Cleanspark from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Friday, October 10th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.83.

Cleanspark Stock Performance

Cleanspark stock opened at $18.77 on Wednesday. Cleanspark, Inc. has a fifty-two week low of $6.45 and a fifty-two week high of $23.61. The stock has a market cap of $5.28 billion, a PE ratio of 22.08 and a beta of 3.88. The firm's 50-day simple moving average is $13.26 and its 200 day simple moving average is $11.04.

Cleanspark (NASDAQ:CLSK - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.78 earnings per share 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 business had revenue of $198.64 million for the quarter, compared to analysts' expectations of $191.33 million. During the same period in the previous year, the company earned ($1.03) earnings per share. The firm's revenue for the quarter was up 90.8% compared to the same quarter last year. As a group, analysts predict that Cleanspark, Inc. will post 0.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Taylor Monnig sold 63,713 shares of the business's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $9.12, for a total transaction of $581,062.56. Following the transaction, the chief operating officer directly owned 120,337 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.65% of the company's stock.

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.

Want to see what other hedge funds are holding CLSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cleanspark, Inc. (NASDAQ:CLSK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.