Victory Capital Management Inc. Has $1.06 Million Stake in CleanSpark, Inc. (NASDAQ:CLSK)

Victory Capital Management Inc. lifted its stake in CleanSpark, Inc. (NASDAQ:CLSK) by 165.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,272 shares of the company’s stock after purchasing an additional 41,259 shares during the period. Victory Capital Management Inc.’s holdings in CleanSpark were worth $1,057,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI boosted 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 buying an additional 2,119 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of CleanSpark by 4.6% during the second quarter. Rhumbline Advisers now owns 313,148 shares of the company’s stock valued at $4,995,000 after acquiring an additional 13,746 shares during the period. Van ECK Associates Corp boosted its holdings in CleanSpark by 21.5% in the second quarter. Van ECK Associates Corp now owns 969,896 shares of the company’s stock valued at $15,470,000 after acquiring an additional 171,627 shares during the last quarter. United Capital Management of KS Inc. increased its position in CleanSpark by 48.7% in the second quarter. United Capital Management of KS Inc. now owns 22,949 shares of the company’s stock worth $366,000 after purchasing an additional 7,511 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in CleanSpark by 33.0% during the 2nd quarter. Principal Financial Group Inc. now owns 29,937 shares of the company’s stock worth $477,000 after purchasing an additional 7,426 shares during the last quarter. Institutional investors own 43.12% of the company’s stock.

Insiders Place Their Bets

In other news, Director Thomas Leigh Wood sold 22,222 shares of CleanSpark stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 26,272 shares of company stock worth $264,421 over the last ninety days. 3.46% of the stock is currently owned by corporate insiders.

CleanSpark Stock Performance

Shares of NASDAQ CLSK opened at $8.99 on Friday. CleanSpark, Inc. has a 52-week low of $3.38 and a 52-week high of $24.72. The firm has a 50 day moving average price of $12.45 and a 200 day moving average price of $15.54.

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). The firm had revenue of $104.11 million during the quarter, compared to analyst estimates of $114.04 million. CleanSpark had a negative net margin of 46.31% and a negative return on equity of 3.64%. On average, sell-side analysts forecast that CleanSpark, Inc. will post -0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CLSK. JPMorgan Chase & Co. reduced their target price on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a research note on Friday, August 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a research note on Tuesday, September 3rd. Finally, HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research report on Wednesday, September 11th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.97.

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.