Teacher Retirement System of Texas Invests $285,000 in Cleanspark, Inc. (NASDAQ:CLSK)

Teacher Retirement System of Texas purchased a new stake in Cleanspark, Inc. (NASDAQ:CLSK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 42,402 shares of the company's stock, valued at approximately $285,000.

A number of other hedge funds also recently made changes to their positions in the company. CX Institutional bought a new position in Cleanspark in the first quarter worth $26,000. Russell Investments Group Ltd. lifted its stake in 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 in the last quarter. GAMMA Investing LLC raised its stake in shares of Cleanspark by 207.8% during the 1st quarter. GAMMA Investing LLC now owns 12,163 shares of the company's stock worth $82,000 after purchasing an additional 8,212 shares in the last quarter. Truefg LLC acquired a new position in shares of Cleanspark during the 1st quarter worth approximately $84,000. Finally, KBC Group NV grew its holdings in Cleanspark by 39.4% in the 1st quarter. KBC Group NV now owns 14,086 shares of the company's stock valued at $95,000 after buying an additional 3,983 shares in the last quarter. Hedge funds and other institutional investors own 43.12% of the company's stock.

Insider Buying and Selling at Cleanspark

In related news, Director Roger Paul Beynon sold 50,000 shares of Cleanspark stock in a transaction that occurred 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 sale, the director directly owned 125,511 shares in the company, valued at $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 available through this hyperlink. Corporate insiders own 2.65% of the company's stock.

Wall Street Analyst Weigh In

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

Cleanspark Trading Up 1.8%

Shares of CLSK traded up $0.23 during midday trading on Tuesday, reaching $12.62. The stock had a trading volume of 12,264,147 shares, compared to its average volume of 27,667,528. The company's 50-day moving average is $10.42 and its 200 day moving average is $9.49. Cleanspark, Inc. has a 12-month low of $6.45 and a 12-month high of $19.04. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of -13.12 and a beta of 4.23.

Cleanspark (NASDAQ:CLSK - Get Free Report) last issued 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%. The company's revenue was up 62.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share. Research analysts forecast that Cleanspark, Inc. will post 0.58 EPS for the current fiscal 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.