Verition Fund Management LLC Makes New Investment in CleanSpark, Inc. (NASDAQ:CLSK)

Verition Fund Management LLC purchased a new stake in CleanSpark, Inc. (NASDAQ:CLSK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 168,466 shares of the company’s stock, valued at approximately $1,573,000. Verition Fund Management LLC owned 0.07% of CleanSpark as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hollencrest Capital Management raised its holdings in CleanSpark by 33.3% during the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $37,000 after acquiring an additional 1,000 shares during the period. National Bank of Canada FI lifted its holdings in CleanSpark by 470.9% during the 2nd quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock worth $41,000 after purchasing an additional 2,119 shares in the last quarter. KBC Group NV grew its holdings in CleanSpark by 42.0% during the 3rd quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $69,000 after buying an additional 2,190 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of CleanSpark by 21.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock valued at $75,000 after buying an additional 1,345 shares during the period. Finally, Doliver Advisors LP purchased a new stake in shares of CleanSpark in the third quarter worth about $117,000. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

CleanSpark Trading Up 7.5 %

CLSK opened at $14.97 on Friday. The stock has a market capitalization of $3.79 billion, a P/E ratio of -25.81 and a beta of 4.16. The stock has a 50-day moving average price of $12.34 and a 200-day moving average price of $13.50. CleanSpark, Inc. has a 12-month low of $6.41 and a 12-month high of $24.72.

Analysts Set New Price Targets

CLSK has been the topic of a number of analyst reports. Macquarie upped their target price on shares of CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a research report on Tuesday. Cantor Fitzgerald restated an “overweight” rating and set a $23.00 target price on shares of CleanSpark in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. dropped their price target on CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.08.

Insiders Place Their Bets

In other news, Director Thomas Leigh Wood sold 22,222 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total value of $205,331.28. Following the completion of the sale, the director now directly owns 137,050 shares in the company, valued at approximately $1,266,342. The trade was a 13.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 26,272 shares of company stock valued at $254,836 over the last quarter. 2.99% of the stock is owned by corporate insiders.

CleanSpark 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.