Harvest Portfolios Group Inc. Buys 63,215 Shares of Cleanspark, Inc. $CLSK

Harvest Portfolios Group Inc. boosted its stake in Cleanspark, Inc. (NASDAQ:CLSK) by 74.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,737 shares of the company’s stock after buying an additional 63,215 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Cleanspark were worth $1,630,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of Cleanspark in the 1st quarter valued at $8,109,000. Public Sector Pension Investment Board acquired a new stake in shares of Cleanspark during the 1st quarter worth about $5,925,000. Rhumbline Advisers increased its position in shares of Cleanspark by 115.8% during the 1st quarter. Rhumbline Advisers now owns 720,903 shares of the company’s stock worth $4,844,000 after purchasing an additional 386,809 shares in the last quarter. Swiss National Bank lifted its holdings in Cleanspark by 13.8% during the 1st quarter. Swiss National Bank now owns 566,800 shares of the company’s stock valued at $3,809,000 after purchasing an additional 68,900 shares during the last quarter. Finally, Mutual of America Capital Management LLC acquired a new position in Cleanspark in the first quarter valued at about $272,000. 43.12% of the stock is currently owned by institutional investors.

Cleanspark Trading Up 1.1%

Shares of CLSK stock opened at $15.57 on Friday. Cleanspark, Inc. has a 1 year low of $6.45 and a 1 year high of $23.61. The firm’s 50 day moving average is $15.33 and its 200-day moving average is $11.96. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 18.32 and a beta of 3.79.

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

Insider Buying and Selling

In other news, COO Taylor Monnig sold 63,713 shares of Cleanspark stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $9.12, for a total value of $581,062.56. Following the completion of the sale, the chief operating officer directly owned 120,337 shares of the company’s stock, valued at approximately $1,097,473.44. This trade represents a 34.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.65% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on CLSK shares. Chardan Capital raised their price objective on shares of Cleanspark from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Macquarie increased their price target on Cleanspark from $20.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. BTIG Research raised their price target on Cleanspark from $22.00 to $26.00 and gave the company a “buy” rating in a report on Monday, October 13th. Cantor Fitzgerald cut their price objective on Cleanspark from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, B. Riley boosted their price objective on Cleanspark from $17.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.02.

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.