CleanSpark, Inc. (NASDAQ:CLSK) Stock Position Boosted by SRN Advisors LLC

SRN Advisors LLC grew its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 65.3% in the third quarter, Holdings Channel reports. The institutional investor owned 261,427 shares of the company’s stock after purchasing an additional 103,283 shares during the period. CleanSpark makes up 2.2% of SRN Advisors LLC’s holdings, making the stock its 3rd biggest holding. SRN Advisors LLC’s holdings in CleanSpark were worth $2,442,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. National Bank of Canada FI grew its position in shares of 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 buying an additional 2,119 shares during the last quarter. Hollencrest Capital Management purchased a new stake in CleanSpark in the second quarter valued at $48,000. Russell Investments Group Ltd. boosted its stake in CleanSpark by 36.8% in the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock valued at $62,000 after acquiring an additional 787 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of CleanSpark by 21.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after purchasing an additional 1,345 shares during the last quarter. Finally, Doliver Advisors LP acquired a new stake in shares of CleanSpark during the third quarter worth about $117,000. 43.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CLSK has been the subject of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 target price on shares of CleanSpark in a research report on Thursday, October 3rd. JPMorgan Chase & Co. decreased their price objective on CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a report on Friday, August 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a report on Wednesday, September 25th. Finally, Macquarie began coverage on shares of CleanSpark in a research note on Wednesday, September 25th. They set an “outperform” rating and a $20.00 price target for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.11.

Insider Buying and Selling

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the business’s 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 transaction, the director now owns 137,050 shares in the company, valued at approximately $1,266,342. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 26,272 shares of company stock valued at $250,003 over the last ninety days. Corporate insiders own 3.46% of the company’s stock.

CleanSpark Stock Down 4.8 %

Shares of NASDAQ CLSK opened at $11.39 on Friday. The stock has a fifty day moving average price of $10.19 and a 200 day moving average price of $14.13. CleanSpark, Inc. has a 1-year low of $3.46 and a 1-year high of $24.72.

CleanSpark (NASDAQ:CLSK) last released its earnings results on Friday, August 9th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.03). The firm had revenue of $104.11 million during the quarter, compared to analyst estimates of $114.04 million. CleanSpark had a negative return on equity of 3.64% and a negative net margin of 46.31%. As a group, sell-side analysts expect that CleanSpark, Inc. will post -0.06 EPS for the current fiscal year.

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.