Willner & Heller LLC Takes Position in CleanSpark, Inc. (NASDAQ:CLSK)

Willner & Heller LLC bought a new position in shares of CleanSpark, Inc. (NASDAQ:CLSK) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 14,500 shares of the company’s stock, valued at approximately $135,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. American Capital Advisory LLC acquired a new position in CleanSpark in the first quarter worth $32,000. National Bank of Canada FI increased its position in CleanSpark by 470.9% in the 2nd quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock valued at $41,000 after acquiring an additional 2,119 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of CleanSpark in the second quarter worth about $48,000. Russell Investments Group Ltd. raised its stake in shares of CleanSpark by 36.8% in the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after acquiring an additional 787 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of CleanSpark in the first quarter valued at approximately $109,000. 43.12% of the stock is owned by institutional investors.

Insider Buying and Selling at CleanSpark

In related news, Director Thomas Leigh Wood sold 22,222 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $9.24, for a total transaction of $205,331.28. Following the completion of the sale, the director now directly owns 137,050 shares of the company’s stock, valued at approximately $1,266,342. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 26,272 shares of company stock valued at $256,874. Company insiders own 2.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CLSK. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 price objective on shares of CleanSpark in a report on Thursday, October 3rd. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a report on Wednesday, September 25th. Macquarie assumed coverage on CleanSpark in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $20.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price 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. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.11.

CleanSpark Stock Up 10.7 %

CleanSpark stock traded up $0.93 during midday trading on Friday, hitting $9.59. 24,209,397 shares of the stock were exchanged, compared to its average volume of 29,760,736. The company has a fifty day simple moving average of $10.14 and a two-hundred day simple moving average of $14.56. CleanSpark, Inc. has a 52 week low of $3.46 and a 52 week high of $24.72.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.01 earnings per share (EPS) 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 firm had revenue of $104.11 million during the quarter, compared to analyst estimates of $114.04 million. As a group, sell-side analysts anticipate that CleanSpark, Inc. will post -0.06 EPS for the current year.

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.