New York State Teachers Retirement System Acquires Shares of 218,900 Cleanspark, Inc. (NASDAQ:CLSK)

New York State Teachers Retirement System purchased a new stake in Cleanspark, Inc. (NASDAQ:CLSK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 218,900 shares of the company's stock, valued at approximately $1,471,000. New York State Teachers Retirement System owned about 0.08% of Cleanspark at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. CX Institutional purchased a new position in Cleanspark during the first quarter worth approximately $26,000. Russell Investments Group Ltd. increased its stake in Cleanspark by 60.0% during the 4th 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 during the period. GAMMA Investing LLC increased its stake in Cleanspark by 207.8% during the 1st quarter. GAMMA Investing LLC now owns 12,163 shares of the company's stock worth $82,000 after buying an additional 8,212 shares during the period. Truefg LLC bought a new stake in shares of Cleanspark in the 1st quarter worth about $84,000. Finally, KBC Group NV boosted its holdings in shares of Cleanspark by 39.4% in the 1st quarter. KBC Group NV now owns 14,086 shares of the company's stock valued at $95,000 after buying an additional 3,983 shares during the period. Institutional investors and hedge funds own 43.12% of the company's stock.

Insider Transactions at Cleanspark

In related news, Director Roger Paul Beynon sold 50,000 shares of Cleanspark stock in a transaction dated 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 transaction, the director directly owned 125,511 shares of the company's stock, valued at $1,319,120.61. This trade represents a 28.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.65% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CLSK shares. Chardan Capital reaffirmed a "buy" rating and issued a $20.00 price target on shares of Cleanspark in a report on Tuesday. B. Riley initiated coverage on shares of Cleanspark in a report on Tuesday, July 1st. They issued a "buy" rating and a $16.00 target price on the stock. 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. Finally, BTIG Research reiterated a "buy" rating on shares of Cleanspark in a research note on Friday, June 13th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cleanspark has an average rating of "Buy" and an average price target of $20.38.

Cleanspark Stock Down 1.9%

NASDAQ CLSK traded down $0.25 during midday trading on Friday, hitting $12.65. The company had a trading volume of 33,689,208 shares, compared to its average volume of 27,996,323. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of -13.18 and a beta of 4.23. The firm has a fifty day simple moving average of $9.95 and a two-hundred day simple moving average of $9.39. Cleanspark, Inc. has a fifty-two week low of $6.45 and a fifty-two week high of $20.49.

Cleanspark (NASDAQ:CLSK - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $196.43 million. During the same quarter last year, the firm posted $0.59 earnings per share. Cleanspark's revenue was up 62.5% on a year-over-year basis. As a group, equities analysts predict that Cleanspark, Inc. will post 0.58 earnings per share for the current year.

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.