Neuberger Berman Group LLC Raises Stock Holdings in Cleanspark, Inc. $CLSK

Neuberger Berman Group LLC raised its holdings in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 374.3% in the second quarter, Holdings Channel.com reports. The firm owned 50,120 shares of the company’s stock after buying an additional 39,553 shares during the period. Neuberger Berman Group LLC’s holdings in Cleanspark were worth $553,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Lauer Wealth LLC acquired a new stake in shares of Cleanspark during the second quarter worth approximately $1,605,000. Russell Investments Group Ltd. boosted its stake in Cleanspark by 63.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 14,149 shares of the company’s stock valued at $156,000 after acquiring an additional 5,502 shares during the last quarter. Inceptionr LLC bought a new position in Cleanspark during the 2nd quarter valued at $116,000. XTX Topco Ltd acquired a new position in Cleanspark during the 2nd quarter worth $388,000. Finally, Insigneo Advisory Services LLC bought a new stake in shares of Cleanspark in the 2nd quarter worth about $590,000. 43.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CLSK. Weiss Ratings restated a “hold (c)” rating on shares of Cleanspark in a research note on Wednesday, October 8th. Macquarie cut their price objective on Cleanspark from $30.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday. BTIG Research increased their target price on Cleanspark from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Chardan Capital reiterated a “buy” rating and issued a $30.00 target price on shares of Cleanspark in a research report on Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $21.00 price target on shares of Cleanspark in a report on Wednesday. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.20.

Cleanspark Price Performance

CLSK opened at $15.23 on Friday. The company has a quick ratio of 4.37, a current ratio of 4.18 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $15.84 and its 200 day moving average price is $12.34. Cleanspark, Inc. has a fifty-two week low of $6.45 and a fifty-two week high of $23.61. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 13.72 and a beta of 3.79.

Insider Buying and Selling at Cleanspark

In other news, COO Taylor Monnig sold 63,713 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $9.12, for a total transaction of $581,062.56. Following the sale, the chief operating officer directly owned 120,337 shares in the company, valued at approximately $1,097,473.44. This represents a 34.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.65% of the company’s stock.

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.