Vontobel Holding Ltd. Has $783,000 Stock Holdings in Cleanspark, Inc. $CLSK

Key Points

• Vontobel Holding Ltd. reduced its stake in Cleanspark, Inc. by 66.9%, now holding shares worth $783,000 after selling 143,402 shares in Q2.
• Multiple hedge funds increased their positions in Cleanspark, with GAMMA Investing LLC raising its stake by 207.8% in the first quarter.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Cleanspark, with a target price range now raised to between $22.00 and $26.00.

Vontobel Holding Ltd. lessened its position in Cleanspark, Inc. (NASDAQ:CLSK - Free Report) by 66.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 70,955 shares of the company's stock after selling 143,402 shares during the period. Vontobel Holding Ltd.'s holdings in Cleanspark were worth $783,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of CLSK. GAMMA Investing LLC boosted its stake 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 purchasing an additional 8,212 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Cleanspark by 93.4% during the first quarter. Farther Finance Advisors LLC now owns 26,306 shares of the company's stock valued at $177,000 after buying an additional 12,706 shares during the last quarter. Yousif Capital Management LLC purchased a new position in shares of Cleanspark during the first quarter valued at approximately $689,000. CX Institutional purchased a new position in shares of Cleanspark during the first quarter valued at approximately $26,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of Cleanspark by 24.5% during the first quarter. Exchange Traded Concepts LLC now owns 889,540 shares of the company's stock valued at $5,978,000 after buying an additional 175,291 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company's stock.

Wall Street Analysts Forecast Growth

CLSK has been the topic of a number of research analyst reports. BTIG Research boosted their target price on Cleanspark from $22.00 to $26.00 and gave the stock a "buy" rating in a research note on Monday. Cantor Fitzgerald boosted their price objective on Cleanspark from $23.00 to $24.00 and gave the stock an "overweight" rating in a research report on Monday, October 6th. Needham & Company LLC boosted their price objective on Cleanspark from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Friday. Wall Street Zen raised Cleanspark from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, LADENBURG THALM/SH SH started coverage on shares of Cleanspark in a report on Monday, July 28th. They issued a "buy" rating and a $20.25 price target on the stock. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.03.

Cleanspark Stock Performance

Shares of CLSK opened at $20.04 on Tuesday. The stock's 50-day simple moving average is $12.03 and its 200 day simple moving average is $10.51. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 23.58 and a beta of 3.88. Cleanspark, Inc. has a 52-week low of $6.45 and a 52-week high of $22.12.

Cleanspark (NASDAQ:CLSK - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.71. Cleanspark had a return on equity of 8.89% and a net margin of 47.98%.The company had revenue of $198.64 million for the quarter, compared to the consensus estimate of $191.33 million. During the same quarter last year, the business posted ($1.03) earnings per share. The firm's revenue was up 90.8% compared to the same quarter last year. On average, research analysts forecast that Cleanspark, Inc. will post 0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cleanspark news, COO Taylor Monnig sold 63,713 shares of the firm's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $9.12, for a total transaction of $581,062.56. Following the sale, the chief operating officer owned 120,337 shares in the company, valued at $1,097,473.44. This trade represents a 34.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.65% of the stock is owned by insiders.

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.

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