Geode Capital Management LLC Increases Stock Holdings in CleanSpark, Inc. (NASDAQ:CLSK)

Geode Capital Management LLC raised its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 9.8% during the third quarter, Holdings Channel reports. The firm owned 6,163,461 shares of the company’s stock after buying an additional 549,187 shares during the quarter. Geode Capital Management LLC’s holdings in CleanSpark were worth $57,577,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in shares of CleanSpark during the second quarter valued at about $18,074,000. Van ECK Associates Corp grew its holdings in shares of CleanSpark by 64.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,590,688 shares of the company’s stock worth $14,857,000 after acquiring an additional 620,792 shares during the period. Millennium Management LLC raised its position in shares of CleanSpark by 74.6% in the 2nd quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock worth $19,958,000 after acquiring an additional 534,825 shares in the last quarter. Barclays PLC lifted its stake in shares of CleanSpark by 364.0% in the 3rd quarter. Barclays PLC now owns 389,201 shares of the company’s stock valued at $3,634,000 after purchasing an additional 305,316 shares during the period. Finally, State Street Corp boosted its position in shares of CleanSpark by 4.5% during the third quarter. State Street Corp now owns 6,073,912 shares of the company’s stock valued at $56,730,000 after purchasing an additional 261,195 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CLSK shares. JPMorgan Chase & Co. upgraded CleanSpark from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $10.50 to $17.00 in a report on Tuesday, December 10th. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of CleanSpark in a research report on Tuesday, December 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a report on Thursday, October 3rd. Finally, Macquarie lifted their target price on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $23.17.

CleanSpark Stock Performance

Shares of CleanSpark stock opened at $11.14 on Monday. The company has a 50-day simple moving average of $12.97 and a two-hundred day simple moving average of $13.11. CleanSpark, Inc. has a 52-week low of $6.41 and a 52-week high of $24.72. The stock has a market capitalization of $3.26 billion, a PE ratio of -19.21 and a beta of 4.16.

About CleanSpark

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.