Vontobel Holding Ltd. Boosts Holdings in Cleanspark, Inc. (NASDAQ:CLSK)

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

A number of other institutional investors also recently modified their holdings of CLSK. CX Institutional bought a new position in Cleanspark during the first quarter worth $26,000. Russell Investments Group Ltd. boosted its stake in Cleanspark by 60.0% during the fourth quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company's stock worth $54,000 after acquiring an additional 2,196 shares in the last quarter. GAMMA Investing LLC boosted its stake in Cleanspark by 207.8% during the first quarter. GAMMA Investing LLC now owns 12,163 shares of the company's stock worth $82,000 after acquiring an additional 8,212 shares in the last quarter. Truefg LLC bought a new position in Cleanspark during the first quarter worth $84,000. Finally, KBC Group NV boosted its stake in Cleanspark by 39.4% during the first quarter. KBC Group NV now owns 14,086 shares of the company's stock worth $95,000 after acquiring an additional 3,983 shares in the last quarter. 43.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CLSK. B. Riley began coverage on shares of Cleanspark in a research note on Tuesday, July 1st. They set a "buy" rating and a $16.00 target price on the stock. 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. BTIG Research reaffirmed a "buy" rating on shares of Cleanspark in a research note on Friday, June 13th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Cleanspark in a research note on Tuesday. Eight equities 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, Cleanspark has an average rating of "Buy" and an average target price of $20.38.

Cleanspark Stock Performance

Shares of Cleanspark stock traded up $0.27 during trading hours on Tuesday, reaching $11.60. The company's stock had a trading volume of 22,371,513 shares, compared to its average volume of 27,939,135. The stock's fifty day simple moving average is $9.70 and its two-hundred day simple moving average is $9.33. The company has a market capitalization of $3.26 billion, a P/E ratio of -12.08 and a beta of 4.23. Cleanspark, Inc. has a one year low of $6.45 and a one year high of $20.49.

Cleanspark (NASDAQ:CLSK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). The firm 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 business's revenue for the quarter was up 62.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. As a group, research analysts forecast that Cleanspark, Inc. will post 0.58 earnings per share for the current year.

Insider Activity at Cleanspark

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 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 document filed with the SEC, which is available at this hyperlink. 2.65% of the stock is currently owned by corporate insiders.

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.