Oregon Public Employees Retirement Fund Takes $428,000 Position in Cleanspark, Inc. (NASDAQ:CLSK)

Oregon Public Employees Retirement Fund 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 filing with the Securities and Exchange Commission (SEC). The fund acquired 63,700 shares of the company's stock, valued at approximately $428,000.

A number of other large investors have also added to or reduced their stakes in CLSK. Price T Rowe Associates Inc. MD increased its holdings in shares of Cleanspark by 1,018.1% in 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 purchasing an additional 1,536,145 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Cleanspark in the 4th quarter worth $13,443,000. Shaolin Capital Management LLC bought a new stake in shares of Cleanspark in the 4th quarter worth $8,559,000. Invesco Ltd. increased its holdings in shares of Cleanspark by 44.2% in the 4th quarter. Invesco Ltd. now owns 2,984,362 shares of the company's stock worth $27,486,000 after purchasing an additional 914,279 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of Cleanspark by 50.8% in the 4th quarter. Tidal Investments LLC now owns 2,394,779 shares of the company's stock worth $22,056,000 after purchasing an additional 806,435 shares in the last quarter. Hedge funds and other institutional investors own 43.12% of the company's stock.

Insiders Place Their Bets

In related news, Director Roger Paul Beynon sold 50,000 shares of Cleanspark stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $10.51, for a total transaction 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.65% of the company's stock.

Analyst Upgrades and Downgrades

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

Cleanspark Trading Up 0.8%

NASDAQ CLSK traded up $0.11 on Thursday, hitting $12.58. 6,000,780 shares of the company traded hands, compared to its average volume of 27,876,206. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of -13.08 and a beta of 4.23. The business's 50 day moving average price is $9.79 and its 200-day moving average price is $9.35. Cleanspark, Inc. has a 52-week low of $6.45 and a 52-week high of $20.49.

Cleanspark (NASDAQ:CLSK - Get Free Report) last released 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). The company had revenue of $181.71 million for the quarter, compared to analysts' expectations of $196.43 million. Cleanspark had a negative net margin of 35.43% and a negative return on equity of 4.65%. Cleanspark's revenue for the quarter was up 62.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 earnings per share. As a group, sell-side analysts predict that Cleanspark, Inc. will post 0.58 earnings per share for the current year.

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.