Exchange Traded Concepts LLC Has $5.31 Million Stake in CleanSpark, Inc. (NASDAQ:CLSK)

by · The Cerbat Gem

Exchange Traded Concepts LLC lifted its stake in CleanSpark, Inc. (NASDAQ:CLSK – Free Report) by 45.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 568,086 shares of the company’s stock after acquiring an additional 178,117 shares during the period. Exchange Traded Concepts LLC owned 0.25% of CleanSpark worth $5,306,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in CleanSpark by 6.8% in the 4th quarter. Vanguard Group Inc. now owns 8,048,511 shares of the company’s stock worth $88,775,000 after acquiring an additional 515,314 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of CleanSpark during the 1st quarter worth about $109,000. CAP Partners LLC acquired a new position in shares of CleanSpark during the 1st quarter worth about $767,000. Sloy Dahl & Holst LLC bought a new stake in CleanSpark during the 1st quarter valued at approximately $302,000. Finally, United Capital Management of KS Inc. bought a new position in CleanSpark in the 1st quarter worth approximately $327,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

CleanSpark Stock Up 10.7 %

NASDAQ:CLSK opened at $9.59 on Monday. The company has a 50-day moving average of $10.14 and a 200-day 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 – Get Free Report) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). CleanSpark had a negative return on equity of 3.64% and a negative net margin of 46.31%. The business had revenue of $104.11 million for the quarter, compared to the consensus estimate of $114.04 million. Equities research analysts predict that CleanSpark, Inc. will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $9.24, for a total value of $205,331.28. Following the sale, the director now directly owns 137,050 shares in the company, valued at $1,266,342. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 26,272 shares of company stock worth $256,874 in the last 90 days. 3.46% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a research report on Thursday, October 3rd. JPMorgan Chase & Co. reduced 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. HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a research report on Wednesday, September 25th. Finally, Macquarie assumed coverage on shares of CleanSpark in a research report on Wednesday, September 25th. They set an “outperform” rating and a $20.00 price objective for the company. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.11.

Check Out Our Latest Research Report on CLSK

CleanSpark Profile

(Free Report)

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.

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