New York State Teachers Retirement System Makes New $1.47 Million Investment in Cleanspark, Inc. (NASDAQ:CLSK)

New York State Teachers Retirement System 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 Form 13F filing with the SEC. The fund acquired 218,900 shares of the company's stock, valued at approximately $1,471,000. New York State Teachers Retirement System owned 0.08% of Cleanspark at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CX Institutional purchased a new position in shares of Cleanspark during the 1st quarter valued at $26,000. Russell Investments Group Ltd. lifted its stake in shares of Cleanspark by 60.0% during the 4th quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company's stock valued at $54,000 after buying an additional 2,196 shares in the last quarter. Farringdon Capital Ltd. purchased a new position in shares of Cleanspark during the 4th quarter valued at $105,000. GAMMA Investing LLC lifted its stake in shares of Cleanspark by 207.8% during the 1st quarter. GAMMA Investing LLC now owns 12,163 shares of the company's stock valued at $82,000 after buying an additional 8,212 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Cleanspark during the 4th quarter valued at $115,000. Hedge funds and other institutional investors own 43.12% of the company's stock.

Insider Buying and Selling

In related 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 transaction of $525,500.00. Following the completion of the sale, the director owned 125,511 shares of the company's stock, valued at $1,319,120.61. This represents a 28.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.65% of the stock is owned by insiders.

Cleanspark Price Performance

CLSK stock traded down $0.25 during mid-day trading on Friday, reaching $12.65. The company had a trading volume of 33,689,208 shares, compared to its average volume of 27,991,296. The company has a market capitalization of $3.55 billion, a PE ratio of -13.18 and a beta of 4.23. The firm has a 50 day moving average of $9.95 and a 200 day moving average of $9.37. Cleanspark, Inc. has a 12 month low of $6.45 and a 12 month high of $20.49.

Cleanspark (NASDAQ:CLSK - Get Free Report) last released its quarterly earnings data 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 net margin of 35.43% and a negative return on equity of 4.65%. The business had revenue of $181.71 million for the quarter, compared to the consensus estimate of $196.43 million. During the same quarter in the prior year, the business posted $0.59 earnings per share. Cleanspark's revenue for the quarter was up 62.5% on a year-over-year basis. Analysts anticipate that Cleanspark, Inc. will post 0.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CLSK shares. JPMorgan Chase & Co. lifted their target price on shares of Cleanspark from $12.00 to $14.00 and gave the company an "overweight" rating in a research note on Friday, June 13th. B. Riley assumed coverage on shares of Cleanspark in a research note on Tuesday, July 1st. They set a "buy" rating and a $16.00 target price on the stock. BTIG Research reiterated a "buy" rating on shares of Cleanspark in a research note on Friday, June 13th. Finally, Chardan Capital reiterated a "buy" rating and issued a $20.00 price target on shares of Cleanspark in a research note on Tuesday, July 8th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $20.38.

Cleanspark Company 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.