Cleanspark, Inc. $CLSK Shares Purchased by Algert Global LLC

Algert Global LLC lifted its position in Cleanspark, Inc. (NASDAQ:CLSK) by 11.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 221,393 shares of the company’s stock after purchasing an additional 22,531 shares during the quarter. Algert Global LLC owned approximately 0.08% of Cleanspark worth $1,488,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. CX Institutional acquired a new stake in shares of Cleanspark in the 1st quarter valued at about $26,000. Russell Investments Group Ltd. boosted its position in shares of Cleanspark by 60.0% in the 4th quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company’s stock valued at $54,000 after purchasing an additional 2,196 shares during the period. Neuberger Berman Group LLC acquired a new stake in shares of Cleanspark in the 1st quarter valued at about $71,000. GAMMA Investing LLC boosted its position in shares of Cleanspark by 207.8% in 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 period. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Cleanspark in the 1st quarter valued at about $82,000. 43.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CLSK has been the subject of several analyst reports. Wall Street Zen raised Cleanspark from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Chardan Capital reaffirmed a “buy” rating and set a $20.00 price objective on shares of Cleanspark in a research report on Friday, August 8th. B. Riley increased their price objective on Cleanspark from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. JPMorgan Chase & Co. increased their price objective on Cleanspark from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Finally, BTIG Research reaffirmed a “buy” rating on shares of Cleanspark in a research report on Friday, June 13th. Ten analysts have rated the stock with a Buy rating, According to MarketBeat.com, Cleanspark has a consensus rating of “Buy” and a consensus target price of $20.47.

Cleanspark Trading Up 5.3%

Shares of CLSK stock opened at $9.82 on Friday. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 11.55 and a beta of 3.72. The stock has a 50 day simple moving average of $10.99 and a 200-day simple moving average of $9.50. Cleanspark, Inc. has a 12-month low of $6.45 and a 12-month high of $17.97.

Cleanspark (NASDAQ:CLSK) last issued its earnings results 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. The business had revenue of $198.64 million during the quarter, compared to the consensus estimate of $191.33 million. Cleanspark had a return on equity of 8.89% and a net margin of 47.98%.The company’s revenue for the quarter was up 90.8% on a year-over-year basis. During the same period in the prior year, the business posted ($1.03) EPS. On average, equities analysts forecast that Cleanspark, Inc. will post 0.58 earnings per share for the current fiscal year.

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.