State of New Jersey Common Pension Fund D Sells 28,054 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

State of New Jersey Common Pension Fund D lowered its holdings in CleanSpark, Inc. (NASDAQ:CLSK) by 20.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,954 shares of the company’s stock after selling 28,054 shares during the period. State of New Jersey Common Pension Fund D’s holdings in CleanSpark were worth $1,738,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. American Capital Advisory LLC purchased a new position in CleanSpark in the 1st quarter valued at approximately $32,000. National Bank of Canada FI grew its position in shares of CleanSpark by 470.9% in the second quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock valued at $41,000 after purchasing an additional 2,119 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of CleanSpark by 36.8% during the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock valued at $62,000 after purchasing an additional 787 shares during the period. Banque Cantonale Vaudoise purchased a new stake in CleanSpark during the 1st quarter worth about $109,000. Finally, Copperwynd Financial LLC bought a new position in CleanSpark in the 4th quarter worth about $112,000. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

CleanSpark Stock Up 5.0 %

Shares of CLSK opened at $9.63 on Wednesday. CleanSpark, Inc. has a 1-year low of $3.38 and a 1-year high of $24.72. The firm’s 50 day simple moving average is $12.06 and its 200 day simple moving average is $15.40.

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

Insider Transactions at CleanSpark

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total transaction of $205,331.28. Following the transaction, the director now directly owns 137,050 shares in the company, valued at $1,266,342. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 26,272 shares of company stock worth $264,421. 3.46% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price target on shares of CleanSpark in a report on Tuesday, September 3rd. HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. cut their price target on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a report on Friday, August 23rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.97.

About CleanSpark

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.