Nuveen LLC Purchases Shares of 1,206,683 Cleanspark, Inc. $CLSK

Key Points

• Nuveen LLC acquired 1,206,683 shares of Cleanspark, Inc. valued at approximately $8,109,000, representing about 0.43% of the company's total shares.
• Cleanspark's stock has recently increased by 5.3% and is trading at approximately $9.82, with a market cap of $2.76 billion.
• Analysts have raised their price targets for Cleanspark, with several firms, including Macquarie and Cantor Fitzgerald, now targeting prices as high as $26.00 for the stock.

Nuveen LLC acquired a new stake in Cleanspark, Inc. (NASDAQ:CLSK - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,206,683 shares of the company's stock, valued at approximately $8,109,000. Nuveen LLC owned about 0.43% of Cleanspark as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Cleanspark by 68.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 281,783 shares of the company's stock valued at $2,595,000 after purchasing an additional 114,674 shares during the last quarter. Swiss National Bank raised its position in Cleanspark by 13.8% during the 1st quarter. Swiss National Bank now owns 566,800 shares of the company's stock valued at $3,809,000 after purchasing an additional 68,900 shares during the last quarter. Mutual of America Capital Management LLC bought a new position in Cleanspark during the 1st quarter valued at approximately $272,000. Algert Global LLC raised its position in Cleanspark by 284.1% during the 4th quarter. Algert Global LLC now owns 198,862 shares of the company's stock valued at $1,832,000 after purchasing an additional 147,086 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Cleanspark by 27.7% during the 4th quarter. Ameriprise Financial Inc. now owns 291,391 shares of the company's stock valued at $2,684,000 after purchasing an additional 63,123 shares during the last quarter. Institutional investors own 43.12% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. LADENBURG THALM/SH SH assumed coverage on Cleanspark in a research report on Monday, July 28th. They set a "buy" rating and a $20.25 price target for the company. Cantor Fitzgerald raised their price objective on Cleanspark from $25.00 to $26.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Chardan Capital reaffirmed a "buy" rating and set a $20.00 price objective on shares of Cleanspark in a research report on Friday, August 8th. Macquarie increased their target price on Cleanspark from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, BTIG Research reiterated a "buy" rating on shares of Cleanspark in a research note on Friday, June 13th. Ten research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $20.47.

Cleanspark Trading Down 0.0%

Cleanspark stock traded down $0.00 during trading on Thursday, reaching $9.58. The company had a trading volume of 11,776,894 shares, compared to its average volume of 24,879,268. Cleanspark, Inc. has a 52 week low of $6.45 and a 52 week high of $17.97. The firm's 50-day simple moving average is $11.01 and its 200 day simple moving average is $9.47. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 11.27 and a beta of 3.72.

Cleanspark (NASDAQ:CLSK - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.71. Cleanspark had a return on equity of 8.89% and a net margin of 47.98%.The company had revenue of $198.64 million for the quarter, compared to analysts' expectations of $191.33 million. During the same period last year, the firm earned ($1.03) EPS. Cleanspark's revenue for the quarter was up 90.8% compared to the same quarter last year. On average, 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.