Intech Investment Management LLC Has $1.28 Million Stock Holdings in CleanSpark, Inc. (NASDAQ:CLSK)

Intech Investment Management LLC raised its holdings in CleanSpark, Inc. (NASDAQ:CLSK) by 92.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 138,586 shares of the company’s stock after purchasing an additional 66,419 shares during the quarter. Intech Investment Management LLC’s holdings in CleanSpark were worth $1,276,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Compagnie Lombard Odier SCmA acquired a new stake in shares of CleanSpark during the 4th quarter valued at $31,000. GAMMA Investing LLC boosted its holdings in shares of CleanSpark by 962.1% during the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock valued at $36,000 after acquiring an additional 3,579 shares in the last quarter. KBC Group NV boosted its holdings in shares of 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 acquiring an additional 2,190 shares in the last quarter. R Squared Ltd acquired a new stake in shares of CleanSpark during the 4th quarter valued at $101,000. Finally, Haven Private LLC acquired a new stake in shares of CleanSpark during the 4th quarter valued at $108,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CLSK shares. Needham & Company LLC started coverage on CleanSpark in a report on Wednesday, February 12th. They set a “buy” rating and a $20.00 price objective on the stock. Macquarie raised their target price on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. lowered their target price on CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods began coverage on CleanSpark in a research report on Monday, January 27th. They set an “outperform” rating and a $19.00 target price for the company. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, CleanSpark presently has a consensus rating of “Buy” and an average price target of $21.57.

CleanSpark Trading Down 4.0 %

CLSK stock opened at $7.44 on Friday. The stock has a 50-day moving average price of $9.61 and a 200-day moving average price of $10.73. CleanSpark, Inc. has a 1-year low of $7.22 and a 1-year high of $24.72. The firm has a market cap of $2.09 billion, a PE ratio of 67.64 and a beta of 4.20.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. On average, analysts forecast that CleanSpark, Inc. will post 0.58 earnings per share for the current year.

Insider Transactions at CleanSpark

In related news, Chairman S. Matthew Schultz sold 9,010 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $10.64, for a total value of $95,866.40. Following the completion of the sale, the chairman now directly owns 2,450,010 shares of the company’s stock, valued at $26,068,106.40. The trade was a 0.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Zachary Bradford sold 10,533 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $112,071.12. Following the completion of the sale, the chief executive officer now directly owns 3,059,326 shares of the company’s stock, valued at $32,551,228.64. The trade was a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,186 shares of company stock valued at $246,375. Corporate insiders own 2.65% of the company’s stock.

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.