State of New Jersey Common Pension Fund D Makes New $2.11 Million Investment in Cleanspark, Inc. $CLSK

State of New Jersey Common Pension Fund D purchased a new stake in Cleanspark, Inc. (NASDAQ:CLSK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 190,825 shares of the company’s stock, valued at approximately $2,105,000.

Several other institutional investors have also recently made changes to their positions in the company. R Squared Ltd lifted its holdings in Cleanspark by 62.7% in the second quarter. R Squared Ltd now owns 23,819 shares of the company’s stock valued at $263,000 after acquiring an additional 9,179 shares during the last quarter. Phoenix Financial Ltd. raised its position in Cleanspark by 7.0% in the second quarter. Phoenix Financial Ltd. now owns 31,979 shares of the company’s stock valued at $352,000 after purchasing an additional 2,089 shares during the period. Chicago Partners Investment Group LLC grew its holdings in shares of Cleanspark by 32.8% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 18,730 shares of the company’s stock worth $207,000 after purchasing an additional 4,623 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Cleanspark during the 2nd quarter worth $174,000. Finally, New York State Teachers Retirement System increased its position in shares of Cleanspark by 12.5% during the 2nd quarter. New York State Teachers Retirement System now owns 246,200 shares of the company’s stock worth $2,716,000 after purchasing an additional 27,300 shares during the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Cleanspark Stock Performance

NASDAQ CLSK opened at $18.89 on Thursday. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 22.22 and a beta of 3.88. The firm has a 50 day simple moving average of $14.33 and a 200-day simple moving average of $11.54. Cleanspark, Inc. has a one year low of $6.45 and a one year high of $23.61.

Cleanspark (NASDAQ:CLSK) last announced its earnings results on Thursday, August 7th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.71. The firm had revenue of $198.64 million for the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned ($1.03) EPS. Equities analysts predict that Cleanspark, Inc. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling at Cleanspark

In other news, COO Taylor Monnig sold 63,713 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $9.12, for a total value 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 trade represents a 34.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen raised shares of Cleanspark from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Chardan Capital upped their price objective on shares of Cleanspark from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, October 13th. B. Riley increased their price objective on shares of Cleanspark from $17.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. HC Wainwright set a $30.00 target price on Cleanspark and gave the company a “buy” rating in a research report on Wednesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cleanspark in a research note on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.13.

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.