Segall Bryant & Hamill LLC Takes $2.56 Million Position in Cleanspark, Inc. (NASDAQ:CLSK)

Segall Bryant & Hamill LLC bought a new position in Cleanspark, Inc. (NASDAQ:CLSK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 380,792 shares of the company's stock, valued at approximately $2,559,000. Segall Bryant & Hamill LLC owned about 0.14% of Cleanspark at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. CX Institutional bought a new stake in Cleanspark during the 1st quarter valued at about $26,000. Russell Investments Group Ltd. lifted its holdings in Cleanspark by 60.0% during the 4th quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company's stock valued at $54,000 after buying an additional 2,196 shares in the last quarter. Farringdon Capital Ltd. bought a new stake in Cleanspark during the 4th quarter valued at about $105,000. GAMMA Investing LLC lifted its holdings in Cleanspark by 207.8% during the 1st quarter. GAMMA Investing LLC now owns 12,163 shares of the company's stock valued at $82,000 after buying an additional 8,212 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Cleanspark during the 4th quarter valued at about $115,000. Institutional investors own 43.12% of the company's stock.

Cleanspark Price Performance

NASDAQ:CLSK traded down $0.20 during trading hours on Friday, hitting $12.78. 29,097,779 shares of the company were exchanged, compared to its average volume of 27,742,330. The company's 50 day moving average price is $10.37 and its 200-day moving average price is $9.48. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of -13.31 and a beta of 4.23. Cleanspark, Inc. has a 52-week low of $6.45 and a 52-week high of $19.04.

Cleanspark (NASDAQ:CLSK - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). The business had revenue of $181.71 million during 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%. The firm's revenue was up 62.5% on a year-over-year basis. During the same period last year, the company earned $0.59 earnings per share. On average, equities analysts predict that Cleanspark, Inc. will post 0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. B. Riley assumed coverage on shares of Cleanspark in a report on Tuesday, July 1st. They issued a "buy" rating and a $16.00 price target for the company. Chardan Capital reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Cleanspark in a research report on Tuesday, July 8th. BTIG Research reaffirmed a "buy" rating on shares of Cleanspark in a research report on Friday, June 13th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cleanspark from $12.00 to $14.00 and gave the stock an "overweight" rating in a research report on Friday, June 13th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $20.38.

Insiders Place Their Bets

In other news, Director Roger Paul Beynon sold 50,000 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $10.51, for a total value of $525,500.00. Following the completion of the sale, the director directly owned 125,511 shares in the company, valued at $1,319,120.61. This represents a 28.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.65% of the company's stock.

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.