Titleist Asset Management LLC Trims Stock Position in Cleanspark, Inc. $CLSK

Titleist Asset Management LLC lessened its stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 12.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,043 shares of the company’s stock after selling 18,122 shares during the quarter. Titleist Asset Management LLC’s holdings in Cleanspark were worth $847,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CLSK. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Cleanspark during the 4th quarter worth approximately $115,000. Beacon Pointe Advisors LLC lifted its position in shares of Cleanspark by 81.8% during the 4th quarter. Beacon Pointe Advisors LLC now owns 100,000 shares of the company’s stock worth $921,000 after buying an additional 45,000 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Cleanspark by 7.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 149,645 shares of the company’s stock worth $1,378,000 after buying an additional 10,451 shares during the last quarter. Northern Trust Corp lifted its position in shares of Cleanspark by 7.2% during the 4th quarter. Northern Trust Corp now owns 2,419,057 shares of the company’s stock worth $22,280,000 after buying an additional 163,282 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its position in shares of Cleanspark by 178.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 105,287 shares of the company’s stock worth $970,000 after buying an additional 67,477 shares during the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Cleanspark Price Performance

Cleanspark stock opened at $9.47 on Friday. Cleanspark, Inc. has a 12 month low of $6.45 and a 12 month high of $17.97. The business has a 50 day simple moving average of $11.03 and a 200-day simple moving average of $9.45. The stock has a market capitalization of $2.66 billion, a PE ratio of 11.14 and a beta of 3.72.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CLSK. Wall Street Zen upgraded shares of Cleanspark from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Cantor Fitzgerald upped their price target on shares of Cleanspark from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. LADENBURG THALM/SH SH started coverage on shares of Cleanspark in a research report on Monday, July 28th. They issued a “buy” rating and a $20.25 price target for the company. Chardan Capital reiterated a “buy” rating and issued a $20.00 price target on shares of Cleanspark in a research report on Friday, August 8th. Finally, B. Riley upped their price target on shares of Cleanspark from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Ten analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Cleanspark presently has an average rating of “Buy” and a consensus price target of $20.47.

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.