Universal Beteiligungs und Servicegesellschaft mbH Takes Position in Cleanspark, Inc. (NASDAQ:CLSK)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in Cleanspark, Inc., purchasing 329,763 shares valued at approximately $2.2 million during the first quarter.
• The stock saw insider activity as director Roger Paul Beynon sold 50,000 shares, resulting in a significant decrease in his ownership percentage.
• Research analysts remain optimistic about Cleanspark, with multiple firms issuing buy ratings and target prices ranging from $16.00 to $25.00.

Universal Beteiligungs und Servicegesellschaft mbH bought 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 SEC. The fund bought 329,763 shares of the company's stock, valued at approximately $2,216,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.12% of Cleanspark as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CLSK. Prudential Financial Inc. raised its holdings in Cleanspark by 9.1% during the 4th quarter. Prudential Financial Inc. now owns 16,835 shares of the company's stock worth $155,000 after purchasing an additional 1,405 shares during the last quarter. Corebridge Financial Inc. raised its holdings in Cleanspark by 1.2% during the 4th quarter. Corebridge Financial Inc. now owns 123,723 shares of the company's stock worth $1,139,000 after purchasing an additional 1,507 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Cleanspark by 13.5% in the 4th quarter. Mackenzie Financial Corp now owns 15,916 shares of the company's stock valued at $147,000 after acquiring an additional 1,898 shares during the last quarter. Russell Investments Group Ltd. increased its stake 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 last quarter. Finally, Summit Investment Advisors Inc. increased its stake in shares of Cleanspark by 12.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 26,034 shares of the company's stock valued at $240,000 after acquiring an additional 2,879 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company's stock.

Wall Street Analyst Weigh In

CLSK has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on Cleanspark from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. LADENBURG THALM/SH SH initiated coverage on Cleanspark in a research note on Monday, July 28th. They issued a "buy" rating and a $20.25 price target for the company. Chardan Capital reissued a "buy" rating and set a $20.00 target price on shares of Cleanspark in a research note on Tuesday, July 8th. Cantor Fitzgerald increased their target price on Cleanspark from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, Wall Street Zen raised Cleanspark from a "sell" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $20.69.

Insider Transactions at Cleanspark

In other Cleanspark news, Director Roger Paul Beynon sold 50,000 shares of the business's 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 transaction, the director directly owned 125,511 shares of the company's stock, valued at approximately $1,319,120.61. The trade was a 28.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.65% of the company's stock.

Cleanspark Stock Down 8.2%

Shares of NASDAQ:CLSK traded down $0.93 during midday trading on Friday, hitting $10.44. The stock had a trading volume of 17,843,805 shares, compared to its average volume of 23,393,584. The business's 50-day simple moving average is $10.80 and its 200-day simple moving average is $9.58. Cleanspark, Inc. has a 12 month low of $6.45 and a 12 month high of $17.97. The company has a market cap of $2.93 billion, a P/E ratio of -10.87 and a beta of 3.72.

Cleanspark (NASDAQ:CLSK - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). The firm had revenue of $181.71 million for the quarter, compared to analyst estimates of $196.43 million. Cleanspark had a negative return on equity of 4.65% and a negative net margin of 35.43%. The firm's quarterly revenue was up 62.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 EPS. As a group, equities 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.