Shariaportfolio Inc. Sells 171,947 Shares of Cleanspark, Inc. $CLSK

Shariaportfolio Inc. decreased its stake in Cleanspark, Inc. (NASDAQ:CLSK) by 20.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 689,486 shares of the company’s stock after selling 171,947 shares during the quarter. Cleanspark makes up 3.3% of Shariaportfolio Inc.’s holdings, making the stock its 9th biggest position. Shariaportfolio Inc.’s holdings in Cleanspark were worth $7,605,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Cleanspark by 22.8% in 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 period. Invesco Ltd. grew its position in shares of Cleanspark by 20.5% in the first quarter. Invesco Ltd. now owns 3,597,402 shares of the company’s stock valued at $24,175,000 after purchasing an additional 613,040 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Cleanspark by 26.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,117,672 shares of the company’s stock valued at $20,951,000 after purchasing an additional 652,811 shares during the period. Northern Trust Corp grew its position in shares of Cleanspark by 16.0% in the first quarter. Northern Trust Corp now owns 2,807,078 shares of the company’s stock valued at $18,864,000 after purchasing an additional 388,021 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Cleanspark by 128.9% in the first quarter. Bank of New York Mellon Corp now owns 1,579,277 shares of the company’s stock valued at $10,613,000 after purchasing an additional 889,317 shares during the period. Institutional investors and hedge funds own 43.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CLSK shares. Wall Street Zen upgraded shares of Cleanspark from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Macquarie boosted their price target on shares of Cleanspark from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Weiss Ratings restated a “hold (c)” rating on shares of Cleanspark in a research report on Saturday, September 27th. BTIG Research restated a “buy” rating on shares of Cleanspark in a research report on Friday, June 13th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $14.00 price target (down from $15.00) on shares of Cleanspark in a research report on Friday, September 26th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.14.

Insiders Place Their Bets

In other Cleanspark news, COO Taylor Monnig sold 63,713 shares of the business’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $9.12, for a total value of $581,062.56. Following the transaction, the chief operating officer directly owned 120,337 shares in the company, valued at $1,097,473.44. The trade was a 34.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.65% of the stock is owned by insiders.

Cleanspark Price Performance

NASDAQ:CLSK opened at $17.96 on Wednesday. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 21.13 and a beta of 3.88. The company’s 50-day moving average is $11.34 and its two-hundred day moving average is $10.17. Cleanspark, Inc. has a 1-year low of $6.45 and a 1-year high of $18.87.

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

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.