West Oak Capital LLC Buys 6,537 Shares of Cleanspark, Inc. $CLSK

West Oak Capital LLC grew its stake in Cleanspark, Inc. (NASDAQ:CLSK) by 3,422.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,728 shares of the company’s stock after acquiring an additional 6,537 shares during the period. West Oak Capital LLC’s holdings in Cleanspark were worth $74,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of Cleanspark by 15.1% in the first quarter. Wellington Management Group LLP now owns 13,990 shares of the company’s stock worth $94,000 after acquiring an additional 1,834 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Cleanspark by 13.5% in the fourth quarter. Mackenzie Financial Corp now owns 15,916 shares of the company’s stock worth $147,000 after acquiring an additional 1,898 shares during the last quarter. Harvest Portfolios Group Inc. raised its stake in shares of Cleanspark by 2.4% in the first quarter. Harvest Portfolios Group Inc. now owns 84,522 shares of the company’s stock worth $568,000 after acquiring an additional 2,014 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Cleanspark by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,500 shares of the company’s stock worth $144,000 after acquiring an additional 2,158 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Cleanspark by 47.6% during the 1st quarter. Russell Investments Group Ltd. now owns 8,647 shares of the company’s stock worth $58,000 after buying an additional 2,788 shares during the period. 43.12% of the stock is owned by institutional investors.

Cleanspark Stock Up 0.9%

Cleanspark stock opened at $13.74 on Tuesday. The stock has a market capitalization of $3.86 billion, a PE ratio of 16.16 and a beta of 3.65. Cleanspark, Inc. has a twelve month low of $6.45 and a twelve month high of $17.97. The company has a 50 day moving average of $10.75 and a 200-day moving average of $9.64.

Cleanspark (NASDAQ:CLSK) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.71. The business 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%. The firm’s revenue for the quarter was up 90.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.03) earnings per share. Equities analysts anticipate that Cleanspark, Inc. will post 0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CLSK. BTIG Research reiterated a “buy” rating on shares of Cleanspark in a research report on Friday, June 13th. B. Riley lifted their price target on shares of Cleanspark from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Macquarie lifted 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. JPMorgan Chase & Co. lifted their price target on shares of Cleanspark from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Finally, LADENBURG THALM/SH SH began coverage on shares of Cleanspark in a research report on Monday, July 28th. They set a “buy” rating and a $20.25 price target for the company. Ten research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Cleanspark currently has a consensus rating of “Buy” and a consensus target price of $20.47.

Insider Activity at Cleanspark

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

Cleanspark Company 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.