Arizona State Retirement System Purchases 12,190 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Arizona State Retirement System grew its position in CleanSpark, Inc. (NASDAQ:CLSK) by 40.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,671 shares of the company’s stock after purchasing an additional 12,190 shares during the quarter. Arizona State Retirement System’s holdings in CleanSpark were worth $471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CLSK. Ameritas Investment Partners Inc. boosted its position in shares of CleanSpark by 60.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,717 shares of the company’s stock worth $25,000 after acquiring an additional 2,150 shares during the last quarter. Barclays PLC boosted its position in shares of CleanSpark by 533.2% during the fourth quarter. Barclays PLC now owns 12,253 shares of the company’s stock worth $25,000 after acquiring an additional 10,318 shares during the last quarter. State of Wyoming bought a new position in shares of CleanSpark during the second quarter worth $27,000. Lazard Asset Management LLC boosted its position in shares of CleanSpark by 3,177.3% during the third quarter. Lazard Asset Management LLC now owns 7,931 shares of the company’s stock worth $29,000 after acquiring an additional 7,689 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of CleanSpark during the third quarter worth $30,000. Institutional investors own 43.12% of the company’s stock.

Insiders Place Their Bets

In other CleanSpark news, Director Roger Paul Beynon sold 10,976 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total transaction of $195,921.60. Following the transaction, the director now directly owns 141,381 shares in the company, valued at approximately $2,523,650.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Roger Paul Beynon sold 10,976 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total value of $195,921.60. Following the sale, the director now directly owns 141,381 shares in the company, valued at approximately $2,523,650.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gary Anthony Vecchiarelli sold 26,244 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $20.93, for a total transaction of $549,286.92. Following the completion of the sale, the chief financial officer now owns 554,391 shares in the company, valued at $11,603,403.63. The disclosure for this sale can be found here. Insiders have sold a total of 1,169,620 shares of company stock worth $24,963,509 in the last three months. Corporate insiders own 3.46% of the company’s stock.

Analysts Set New Price Targets

CLSK has been the subject of a number of research reports. BTIG Research upped their target price on shares of CleanSpark from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. TheStreet raised shares of CleanSpark from a “d” rating to a “c-” rating in a research note on Friday, February 9th. Cantor Fitzgerald upped their price target on shares of CleanSpark from $10.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. upped their price target on shares of CleanSpark from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of CleanSpark in a research note on Monday, April 15th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.22.

CleanSpark Price Performance

Shares of CLSK opened at $17.20 on Friday. CleanSpark, Inc. has a twelve month low of $3.33 and a twelve month high of $24.72. The company’s fifty day simple moving average is $17.52 and its 200-day simple moving average is $10.75.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.26. The company had revenue of $73.79 million for the quarter, compared to the consensus estimate of $66.06 million. CleanSpark had a negative net margin of 38.09% and a negative return on equity of 16.25%. On average, research analysts expect that CleanSpark, Inc. will post -0.3 earnings per share for the current 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.