Shares of the Bitcoin (BTC-USD) mining company CleanSpark (NASDAQ:CLSK) closed about 20% higher on March 25. The company revealed that it mined 650 Bitcoins in February and improved its hashrate (its mining speed). As the improvement in hashrate and the ongoing rally in leading cryptocurrencies push CLSK stock higher, it’s the right time to delve into its ownership structure.
Now, according to TipRanks’ ownership page, public companies and individual investors own 65.35% of CLSK. They are followed by other institutional investors, mutual funds, and insiders at 20.9%, 9.22%, and 4.53%, respectively.
Digging Deeper into CLSK’s Ownership Structure
Looking closely at institutions (Mutual Funds and Other Institutional Investors), Vanguard owns a 5.01% stake in CLSK stock. Next up is iShares, which holds a 3.99% stake in the company.
Among the institutions, the Hedge Fund Confidence Signal is Very Positive on CleanSpark stock based on the activity of three hedge funds. Hedge funds increased their CLSK holdings by 891.3K shares in the last quarter. Meanwhile, individual investors have a Very Positive view of the company, given that in the last 30 days, the number of portfolios (tracked by TipRanks) holding CLSK stock increased by 12.1%. Overall, among the 722,260 portfolios monitored by TipRanks, 0.4% have invested in CLSK stock.
Is CleanSpark a Good Buy?
Four analysts cover CleanSpark stock, and all recommend a Buy. However, CleanSpark stock has more than doubled year-to-date and is up about 807% in one year. Given this rally, analysts’ average price target on CLSK stock of $18.30 implies a 21.79% downside potential from current levels.
Conclusion
TipRanks’ Ownership tool provides CLSK ownership structure by category, enabling investors to make well-informed investing decisions.
For a thorough assessment of CLSK stock, go to TipRanks’ Stock Analysis page.
