Oregon Public Employees Retirement Fund Purchases New Holdings in Cleanspark, Inc. (NASDAQ:CLSK)

Oregon Public Employees Retirement Fund purchased a new stake in shares of Cleanspark, Inc. (NASDAQ:CLSK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 63,700 shares of the company's stock, valued at approximately $428,000.

Several other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Cleanspark by 1,018.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,687,022 shares of the company's stock worth $15,538,000 after acquiring an additional 1,536,145 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Cleanspark during the 4th quarter worth $13,443,000. Shaolin Capital Management LLC bought a new stake in shares of Cleanspark during the 4th quarter worth $8,559,000. Invesco Ltd. boosted its stake in shares of Cleanspark by 44.2% during the 4th quarter. Invesco Ltd. now owns 2,984,362 shares of the company's stock worth $27,486,000 after acquiring an additional 914,279 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Cleanspark by 50.8% during the 4th quarter. Tidal Investments LLC now owns 2,394,779 shares of the company's stock worth $22,056,000 after acquiring an additional 806,435 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cleanspark

In other news, Director Roger Paul Beynon sold 50,000 shares of Cleanspark stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $10.51, for a total value of $525,500.00. Following the transaction, the director directly owned 125,511 shares in the company, valued at approximately $1,319,120.61. The trade was a 28.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.65% of the company's stock.

Cleanspark Stock Performance

Shares of Cleanspark stock traded down $0.25 during trading on Friday, reaching $12.65. The company's stock had a trading volume of 33,636,075 shares, compared to its average volume of 28,019,598. The business's fifty day moving average price is $9.87 and its 200-day moving average price is $9.37. The firm 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 one year low of $6.45 and a one year high of $20.49.

Cleanspark (NASDAQ:CLSK - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). The business had revenue of $181.71 million during the quarter, compared to the consensus estimate of $196.43 million. Cleanspark had a negative return on equity of 4.65% and a negative net margin of 35.43%. The company's revenue for the quarter was up 62.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Sell-side analysts anticipate that Cleanspark, Inc. will post 0.58 EPS for the current year.

Wall Street Analyst Weigh In

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

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.