66,258 Shares in CleanSpark, Inc. (NASDAQ:CLSK) Purchased by SRN Advisors LLC

SRN Advisors LLC acquired a new position in CleanSpark, Inc. (NASDAQ:CLSK) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 66,258 shares of the company’s stock, valued at approximately $1,405,000.

Other institutional investors have also added to or reduced their stakes in the company. American Capital Advisory LLC bought a new stake in CleanSpark in the 1st quarter worth about $32,000. Russell Investments Group Ltd. grew its position in CleanSpark by 36.8% in the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after purchasing an additional 787 shares in the last quarter. Signaturefd LLC grew its position in CleanSpark by 100.0% in the 4th quarter. Signaturefd LLC now owns 9,000 shares of the company’s stock worth $99,000 after purchasing an additional 4,500 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in CleanSpark in the 1st quarter worth about $109,000. Finally, Copperwynd Financial LLC bought a new stake in CleanSpark in the 4th quarter worth about $112,000. 43.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CLSK. Cantor Fitzgerald upped their price objective on shares of CleanSpark from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their target price on shares of CleanSpark from $15.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, June 4th. Chardan Capital reissued a “buy” rating and set a $26.00 target price on shares of CleanSpark in a research report on Monday, May 13th. Finally, HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research report on Friday, June 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.13.

CleanSpark Stock Down 10.7 %

CLSK traded down $1.61 on Friday, hitting $13.48. The company’s stock had a trading volume of 37,910,417 shares, compared to its average volume of 31,342,390. The company’s 50 day simple moving average is $16.78 and its 200-day simple moving average is $16.07. CleanSpark, Inc. has a 12 month low of $3.38 and a 12 month high of $24.72.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.06 by $0.07. The company had revenue of $111.80 million during the quarter, compared to the consensus estimate of $111.11 million. CleanSpark had a net margin of 22.41% and a negative return on equity of 6.30%. On average, sell-side analysts expect that CleanSpark, Inc. will post -0.09 EPS for the current year.

CleanSpark Company 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.