Exchange Traded Concepts LLC Increases Stake in CleanSpark, Inc. (NASDAQ:CLSK)

Exchange Traded Concepts LLC grew its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 25.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 714,249 shares of the company’s stock after purchasing an additional 146,163 shares during the quarter. Exchange Traded Concepts LLC’s holdings in CleanSpark were worth $6,578,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in 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 buying an additional 3,579 shares during the last quarter. Hollencrest Capital Management increased its position 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 acquiring an additional 1,000 shares during the period. KBC Group NV raised its stake in shares of CleanSpark by 42.0% during the third 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 during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of CleanSpark by 21.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after purchasing an additional 1,345 shares during the period. Finally, Doliver Advisors LP bought a new stake in shares of CleanSpark in the third quarter worth about $117,000. Institutional investors own 43.12% of the company’s stock.

CleanSpark Trading Up 1.1 %

CLSK opened at $11.53 on Friday. CleanSpark, Inc. has a 12-month low of $6.95 and a 12-month high of $24.72. The company has a market cap of $3.37 billion, a price-to-earnings ratio of -19.88 and a beta of 4.26. The stock has a fifty day simple moving average of $11.95 and a two-hundred day simple moving average of $12.05.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings data on Monday, December 2nd. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.02). CleanSpark had a negative return on equity of 2.36% and a negative net margin of 38.47%. On average, analysts predict that CleanSpark, Inc. will post 0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a report on Tuesday, December 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 price target on shares of CleanSpark in a report on Thursday, October 3rd. JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $10.50 to $17.00 in a research report on Tuesday, December 10th. Finally, Macquarie raised their target price on shares of CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CleanSpark presently has an average rating of “Buy” and an average price target of $23.17.

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.