CleanSpark, Inc. (NASDAQ:CLSK) Stock Position Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 33.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,937 shares of the company’s stock after purchasing an additional 7,426 shares during the period. Principal Financial Group Inc.’s holdings in CleanSpark were worth $477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CLSK. American Capital Advisory LLC bought a new position in shares of CleanSpark during the 1st quarter valued at about $32,000. Russell Investments Group Ltd. boosted its holdings in shares of CleanSpark by 36.8% in the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after buying an additional 787 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of CleanSpark in the first quarter worth about $109,000. Copperwynd Financial LLC acquired a new position in shares of CleanSpark in the fourth quarter worth about $112,000. Finally, VitalStone Financial LLC boosted its holdings in shares of CleanSpark by 21.7% in the fourth quarter. VitalStone Financial LLC now owns 10,825 shares of the company’s stock worth $119,000 after buying an additional 1,930 shares during the period. Institutional investors own 43.12% of the company’s stock.

Wall Street Analyst Weigh In

CLSK has been the subject of several research reports. HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of CleanSpark in a report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 target price on shares of CleanSpark in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.97.

CleanSpark Stock Up 1.4 %

Shares of CLSK stock opened at $9.38 on Friday. CleanSpark, Inc. has a 1 year low of $3.38 and a 1 year high of $24.72. The firm’s fifty day simple moving average is $13.21 and its 200 day simple moving average is $15.93.

CleanSpark (NASDAQ:CLSK) last announced its earnings results on Friday, August 9th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). CleanSpark had a negative return on equity of 3.64% and a negative net margin of 46.31%. The company had revenue of $104.11 million for the quarter, compared to the consensus estimate of $114.04 million. On average, analysts anticipate that CleanSpark, Inc. will post -0.06 earnings per share for the current year.

Insider Buying and Selling at CleanSpark

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total value of $205,331.28. Following the sale, the director now owns 137,050 shares of the company’s stock, valued at approximately $1,266,342. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 26,272 shares of company stock valued at $264,421 in the last 90 days. 3.46% of the stock is currently owned by company insiders.

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.