Avaii Wealth Management LLC Boosts Stock Position in CleanSpark, Inc. (NASDAQ:CLSK)

Avaii Wealth Management LLC boosted its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 58.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,565 shares of the company’s stock after purchasing an additional 17,155 shares during the quarter. Avaii Wealth Management LLC’s holdings in CleanSpark were worth $435,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CLSK. Russell Investments Group Ltd. boosted its holdings in CleanSpark by 36.8% in the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after purchasing an additional 787 shares during the period. SteelPeak Wealth LLC boosted its holdings in shares of CleanSpark by 3.0% in the 2nd quarter. SteelPeak Wealth LLC now owns 36,907 shares of the company’s stock valued at $589,000 after buying an additional 1,066 shares during the period. Amalgamated Bank grew its position in shares of CleanSpark by 18.4% during the 2nd quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock valued at $122,000 after buying an additional 1,194 shares during the last quarter. Tobam grew its position in shares of CleanSpark by 6.4% during the 1st quarter. Tobam now owns 23,142 shares of the company’s stock valued at $491,000 after buying an additional 1,394 shares during the last quarter. Finally, Sei Investments Co. raised its stake in CleanSpark by 7.0% during the second quarter. Sei Investments Co. now owns 30,344 shares of the company’s stock worth $484,000 after acquiring an additional 1,987 shares during the period. 43.12% of the stock is currently owned by institutional investors.

Insider Activity at CleanSpark

In related news, Director Thomas Leigh Wood sold 22,222 shares of the firm’s stock in a transaction that occurred 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 26,272 shares of company stock worth $256,874 in the last three months. 3.46% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on CLSK. JPMorgan Chase & Co. lowered their target price on CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a report on Friday, August 23rd. Macquarie assumed coverage on CleanSpark in a research note on Wednesday, September 25th. They set an “outperform” rating and a $20.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 target price on shares of CleanSpark in a research note on Thursday, October 3rd. Finally, HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of CleanSpark in a research report on Wednesday, September 25th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, CleanSpark currently has an average rating of “Moderate Buy” and an average price target of $19.11.

CleanSpark Stock Up 1.1 %

CLSK traded up $0.13 during trading hours on Thursday, hitting $11.97. The company’s stock had a trading volume of 15,366,814 shares, compared to its average volume of 29,796,455. CleanSpark, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $24.72. The company has a 50-day simple moving average of $10.10 and a 200 day simple moving average of $14.34.

CleanSpark (NASDAQ:CLSK) last posted its earnings results on Friday, August 9th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.03). CleanSpark had a negative net margin of 46.31% and a negative return on equity of 3.64%. The business had revenue of $104.11 million during the quarter, compared to analyst estimates of $114.04 million. As a group, research analysts predict that CleanSpark, Inc. will post -0.06 earnings per share for the current year.

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.