Cleanspark, Inc. (NASDAQ:CLSK) Shares Bought by Vontobel Holding Ltd.

Vontobel Holding Ltd. lifted its stake in Cleanspark, Inc. (NASDAQ:CLSK - Free Report) by 60.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 214,357 shares of the company's stock after buying an additional 80,825 shares during the period. Vontobel Holding Ltd. owned approximately 0.08% of Cleanspark worth $1,440,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CLSK. Price T Rowe Associates Inc. MD grew its holdings in shares of Cleanspark by 1,018.1% during the fourth 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 during the last quarter. Jump Financial LLC acquired a new stake in shares of Cleanspark in the 4th quarter valued at about $13,443,000. Shaolin Capital Management LLC purchased a new position in Cleanspark during the 4th quarter worth approximately $8,559,000. Invesco Ltd. increased its position in Cleanspark by 44.2% during the fourth quarter. Invesco Ltd. now owns 2,984,362 shares of the company's stock worth $27,486,000 after buying an additional 914,279 shares during the period. Finally, Tidal Investments LLC increased its position in Cleanspark by 50.8% during the fourth quarter. Tidal Investments LLC now owns 2,394,779 shares of the company's stock worth $22,056,000 after buying an additional 806,435 shares during the period. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Cleanspark Stock Down 1.5%

NASDAQ CLSK traded down $0.19 during trading hours on Friday, hitting $12.30. 20,908,929 shares of the stock were exchanged, compared to its average volume of 27,974,749. The company has a market cap of $3.45 billion, a price-to-earnings ratio of -12.81 and a beta of 4.23. Cleanspark, Inc. has a 12-month low of $6.45 and a 12-month high of $20.49. The stock has a 50-day moving average of $9.58 and a 200 day moving average of $9.34.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Chardan Capital restated a "buy" rating and set a $20.00 target price on shares of Cleanspark in a research report on Wednesday, June 25th. BTIG Research reissued a "buy" rating on shares of Cleanspark in a research report on Friday, June 13th. B. Riley began coverage on shares of Cleanspark in a research note on Tuesday. They issued a "buy" rating and a $16.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Cleanspark from $12.00 to $14.00 and gave the stock an "overweight" rating in a research note on Friday, June 13th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $20.38.

Insider Buying and Selling

In other news, Director Roger Paul Beynon sold 50,000 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were 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 of the company's stock, valued at $1,319,120.61. This represents a 28.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company 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.