CleanSpark, Inc. (NASDAQ:CLSK) Shares Bought by Hollencrest Capital Management

Hollencrest Capital Management grew its holdings in CleanSpark, Inc. (NASDAQ:CLSK) by 33.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,000 shares of the company’s stock after buying an additional 1,000 shares during the period. Hollencrest Capital Management’s holdings in CleanSpark were worth $37,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Clarity Capital Partners LLC raised its stake in CleanSpark by 100.8% during the 3rd quarter. Clarity Capital Partners LLC now owns 175,056 shares of the company’s stock valued at $1,635,000 after acquiring an additional 87,891 shares during the last quarter. Swiss National Bank raised its stake in shares of CleanSpark by 21.3% during the first quarter. Swiss National Bank now owns 364,800 shares of the company’s stock worth $7,737,000 after purchasing an additional 64,000 shares during the last quarter. SRN Advisors LLC lifted its holdings in shares of CleanSpark by 65.3% during the third quarter. SRN Advisors LLC now owns 261,427 shares of the company’s stock worth $2,442,000 after purchasing an additional 103,283 shares during the period. Vanguard Group Inc. grew its position in CleanSpark by 58.5% in the 1st quarter. Vanguard Group Inc. now owns 12,755,249 shares of the company’s stock valued at $270,539,000 after buying an additional 4,706,738 shares during the last quarter. Finally, Millennium Management LLC grew its position in CleanSpark by 74.6% in the 2nd quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock valued at $19,958,000 after buying an additional 534,825 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

CleanSpark Stock Performance

CLSK opened at $13.57 on Friday. CleanSpark, Inc. has a 1-year low of $3.46 and a 1-year high of $24.72. The stock’s 50 day simple moving average is $10.23 and its 200 day simple moving average is $13.82.

CleanSpark (NASDAQ:CLSK) last posted its earnings results on Friday, August 9th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). CleanSpark had a negative return on equity of 3.64% and a negative net margin of 46.31%. The firm had revenue of $104.11 million for the quarter, compared to analysts’ expectations of $114.04 million. On average, equities analysts expect that CleanSpark, Inc. will post -0.06 EPS for the current year.

Insider Buying and Selling

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $9.24, for a total transaction of $205,331.28. Following the completion of the transaction, the director now directly owns 137,050 shares in the company, valued at approximately $1,266,342. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 26,272 shares of company stock worth $250,003 in the last three months. Corporate insiders own 2.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CLSK shares. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research note on Wednesday, September 25th. JPMorgan Chase & Co. reduced their price objective on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a research report on Friday, August 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $23.00 target price on shares of CleanSpark in a research report on Thursday, October 3rd. Finally, Macquarie assumed coverage on CleanSpark in a report on Wednesday, September 25th. They issued an “outperform” rating and a $20.00 price target for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.42.

CleanSpark 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.