Cetera Investment Advisers Purchases 8,643 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Cetera Investment Advisers grew its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 3.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 238,399 shares of the company’s stock after purchasing an additional 8,643 shares during the quarter. Cetera Investment Advisers’ holdings in CleanSpark were worth $2,196,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CLSK. Price T Rowe Associates Inc. MD grew its stake 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 valued at $15,538,000 after buying an additional 1,536,145 shares during the last quarter. Jump Financial LLC bought a new position in shares of CleanSpark during the fourth quarter valued at about $13,443,000. Shaolin Capital Management LLC bought a new position in shares of CleanSpark during the fourth quarter valued at about $8,559,000. Invesco Ltd. grew its stake in shares of CleanSpark by 44.2% during the fourth quarter. Invesco Ltd. now owns 2,984,362 shares of the company’s stock valued at $27,486,000 after buying an additional 914,279 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of CleanSpark by 40.0% during the fourth quarter. Van ECK Associates Corp now owns 2,227,199 shares of the company’s stock valued at $20,513,000 after buying an additional 636,511 shares during the last quarter. 43.12% of the stock is owned by institutional investors.

CleanSpark Trading Up 4.5%

CleanSpark stock opened at $9.78 on Monday. The firm has a 50-day moving average of $8.09 and a 200-day moving average of $10.19. The firm has a market cap of $2.75 billion, a P/E ratio of 88.92 and a beta of 4.36. CleanSpark, Inc. has a 1-year low of $6.45 and a 1-year high of $20.64.

CleanSpark (NASDAQ:CLSK) last posted its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). The firm had revenue of $181.71 million for the quarter, compared to analysts’ expectations of $196.43 million. CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. 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 posted $0.59 earnings per share. 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, Director Amanda Cavaleri sold 13,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $7.97, for a total value of $103,610.00. Following the completion of the sale, the director now directly owns 140,289 shares in the company, valued at $1,118,103.33. This trade represents a 8.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.65% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CLSK shares. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a research note on Friday, February 7th. Chardan Capital raised CleanSpark to a “strong-buy” rating in a research note on Tuesday, April 29th. Keefe, Bruyette & Woods started coverage on CleanSpark in a research note on Monday, January 27th. They set an “outperform” rating and a $19.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Needham & Company LLC started coverage on shares of CleanSpark in a report on Wednesday, February 12th. They set a “buy” rating and a $20.00 target price for the company. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $20.83.

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.