Bank of New York Mellon Corp Grows Stock Position in CleanSpark, Inc. (NASDAQ:CLSK)

Bank of New York Mellon Corp increased its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 32.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 871,793 shares of the company's stock after purchasing an additional 215,124 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.38% of CleanSpark worth $13,905,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CLSK. Vanguard Group Inc. increased its position in CleanSpark by 58.5% in the first quarter. Vanguard Group Inc. now owns 12,755,249 shares of the company's stock worth $270,539,000 after purchasing an additional 4,706,738 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of CleanSpark by 62.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,433,586 shares of the company's stock valued at $93,032,000 after purchasing an additional 3,235,171 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in shares of CleanSpark in the 1st quarter worth approximately $3,818,000. SG Americas Securities LLC increased its position in shares of CleanSpark by 178.4% during the 2nd quarter. SG Americas Securities LLC now owns 265,084 shares of the company's stock valued at $4,228,000 after purchasing an additional 169,861 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of CleanSpark during the 1st quarter valued at approximately $3,570,000. Institutional investors own 43.12% of the company's stock.

CleanSpark Price Performance

Shares of NASDAQ CLSK traded down $0.50 during midday trading on Friday, reaching $8.09. 17,611,344 shares of the company's stock traded hands, compared to its average volume of 31,239,926. CleanSpark, Inc. has a one year low of $3.38 and a one year high of $24.72. The stock's 50 day simple moving average is $13.82 and its 200-day simple moving average is $16.13.

CleanSpark (NASDAQ:CLSK - Get Free Report) last posted its quarterly earnings data on Friday, August 9th. The company reported $0.01 earnings per share 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 business had revenue of $104.11 million during the quarter, compared to analyst estimates of $114.04 million. Sell-side analysts forecast that CleanSpark, Inc. will post -0.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CLSK. JPMorgan Chase & Co. cut their price objective on shares of CleanSpark from $12.50 to $10.50 and set a "neutral" rating on the stock in a research report on Friday, August 23rd. Chardan Capital reissued a "buy" rating and issued a $26.00 price objective on shares of CleanSpark in a research note on Monday, May 13th. HC Wainwright reaffirmed a "buy" rating and set a $27.00 target price on shares of CleanSpark in a research note on Monday, August 12th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $23.00 price objective on shares of CleanSpark in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $18.97.

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.