881,663 Shares in Cleanspark, Inc. (NASDAQ:CLSK) Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board acquired a new stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 881,663 shares of the company’s stock, valued at approximately $5,925,000.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Cleanspark by 22.8% during the first quarter. Vanguard Group Inc. now owns 24,145,612 shares of the company’s stock valued at $162,259,000 after purchasing an additional 4,489,866 shares during the last quarter. Invesco Ltd. raised its holdings in Cleanspark by 20.5% during the 1st quarter. Invesco Ltd. now owns 3,597,402 shares of the company’s stock worth $24,175,000 after buying an additional 613,040 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Cleanspark by 26.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,117,672 shares of the company’s stock worth $20,951,000 after buying an additional 652,811 shares during the period. Northern Trust Corp raised its holdings in Cleanspark by 7.2% during the 4th quarter. Northern Trust Corp now owns 2,419,057 shares of the company’s stock worth $22,280,000 after buying an additional 163,282 shares during the period. Finally, Tidal Investments LLC raised its holdings in Cleanspark by 50.8% during the 4th 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.

Insiders Place Their Bets

In related 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 completion of the sale, the director directly owned 125,511 shares in the company, valued at approximately $1,319,120.61. The trade was a 28.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.65% of the company’s stock.

Cleanspark Stock Performance

Shares of NASDAQ CLSK opened at $9.75 on Friday. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 11.47 and a beta of 3.72. The business has a 50 day simple moving average of $11.02 and a 200 day simple moving average of $9.53. Cleanspark, Inc. has a 52 week low of $6.45 and a 52 week high of $17.97.

Cleanspark (NASDAQ:CLSK) last posted its earnings results on Thursday, August 7th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.71. Cleanspark had a return on equity of 8.89% and a net margin of 47.98%. The firm had revenue of $198.64 million during the quarter, compared to analyst estimates of $191.33 million. During the same period in the previous year, the company earned ($1.03) EPS. The company’s revenue for the quarter was up 90.8% on a year-over-year basis. On average, analysts predict that Cleanspark, Inc. will post 0.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CLSK shares. Macquarie boosted their price objective on Cleanspark from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. JPMorgan Chase & Co. boosted their price objective on Cleanspark from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. B. Riley boosted their price objective on Cleanspark from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 8th. BTIG Research reaffirmed a “buy” rating on shares of Cleanspark in a research note on Friday, June 13th. Finally, Cantor Fitzgerald lifted their target price on Cleanspark from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Cleanspark presently has a consensus rating of “Moderate Buy” and an average target price of $20.47.

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.