Oregon Public Employees Retirement Fund Acquires Shares of 63,700 Cleanspark, Inc. (NASDAQ:CLSK)

Oregon Public Employees Retirement Fund bought a new position in shares of Cleanspark, Inc. (NASDAQ:CLSK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 63,700 shares of the company's stock, valued at approximately $428,000.

Other large investors also recently added to or reduced their stakes in the company. CX Institutional acquired a new position in Cleanspark in the first quarter valued at about $26,000. Russell Investments Group Ltd. raised its position in shares of Cleanspark by 60.0% in the 4th quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company's stock valued at $54,000 after acquiring an additional 2,196 shares during the period. Farringdon Capital Ltd. bought a new position in Cleanspark during the 4th quarter worth approximately $105,000. GAMMA Investing LLC increased its stake in Cleanspark by 207.8% in the first quarter. GAMMA Investing LLC now owns 12,163 shares of the company's stock valued at $82,000 after purchasing an additional 8,212 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Cleanspark in the fourth quarter worth $115,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cleanspark

In other news, Director Roger Paul Beynon sold 50,000 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was 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 of the company's stock, valued at approximately $1,319,120.61. This represents a 28.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.65% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on CLSK. JPMorgan Chase & Co. raised their price objective on Cleanspark from $12.00 to $14.00 and gave the stock an "overweight" rating in a research note on Friday, June 13th. Chardan Capital reiterated a "buy" rating and issued a $20.00 price objective on shares of Cleanspark in a research report on Tuesday. B. Riley initiated coverage on shares of Cleanspark in a research note on Tuesday, July 1st. They issued a "buy" rating and a $16.00 price target on the stock. Finally, BTIG Research restated a "buy" rating on shares of Cleanspark in a report on Friday, June 13th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $20.38.

Cleanspark Stock Down 1.9%

CLSK traded down $0.25 during trading hours on Friday, hitting $12.65. 33,689,208 shares of the company's stock were exchanged, compared to its average volume of 27,991,296. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of -13.18 and a beta of 4.23. Cleanspark, Inc. has a 1-year low of $6.45 and a 1-year high of $20.49. The stock's 50-day moving average is $9.95 and its two-hundred day moving average is $9.38.

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 net margin of 35.43% and a negative return on equity of 4.65%. The company had revenue of $181.71 million during the quarter, compared to analyst estimates of $196.43 million. During the same period in the prior year, the firm posted $0.59 EPS. Cleanspark's revenue was up 62.5% compared to the same quarter last year. On average, equities research analysts anticipate that Cleanspark, Inc. will post 0.58 EPS 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.