Archer Investment Corp Makes New $158,000 Investment in CleanSpark, Inc. (NASDAQ:CLSK)

Archer Investment Corp acquired a new position in shares of CleanSpark, Inc. (NASDAQ:CLSK) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,923 shares of the company’s stock, valued at approximately $158,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Hollencrest Capital Management grew its stake in shares of CleanSpark by 33.3% in the third quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $37,000 after buying an additional 1,000 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of CleanSpark by 470.9% in the second quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock valued at $41,000 after purchasing an additional 2,119 shares during the period. Russell Investments Group Ltd. increased its stake in CleanSpark by 36.8% during the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after buying an additional 787 shares during the period. KBC Group NV lifted its holdings in CleanSpark by 42.0% in the 3rd quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $69,000 after buying an additional 2,190 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of CleanSpark by 21.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock valued at $75,000 after acquiring an additional 1,345 shares in the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

CleanSpark Trading Up 0.4 %

NASDAQ:CLSK opened at $14.03 on Friday. CleanSpark, Inc. has a 1 year low of $3.75 and a 1 year high of $24.72. The firm’s fifty day simple moving average is $10.89 and its 200 day simple moving average is $13.74.

Analysts Set New Price Targets

CLSK has been the topic of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $23.00 target price on shares of CleanSpark in a research report on Thursday, October 3rd. Macquarie initiated coverage on shares of CleanSpark in a research note on Wednesday, September 25th. They set an “outperform” rating and a $20.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. reduced their price target on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, CleanSpark currently has a consensus rating of “Moderate Buy” and an average target price of $21.42.

Insider Transactions at CleanSpark

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total value of $205,331.28. Following the sale, the director now owns 137,050 shares of the company’s stock, valued at $1,266,342. The trade was a 13.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 26,272 shares of company stock worth $250,003. Company insiders own 2.99% 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.