Advantage Alpha Capital Partners LP Invests $426,000 in CleanSpark, Inc. (NASDAQ:CLSK)

Advantage Alpha Capital Partners LP acquired a new stake in CleanSpark, Inc. (NASDAQ:CLSK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 46,214 shares of the company’s stock, valued at approximately $426,000.

Other hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in shares of CleanSpark by 2.6% in the 3rd quarter. Victory Capital Management Inc. now owns 67,981 shares of the company’s stock valued at $635,000 after purchasing an additional 1,709 shares during the last quarter. Quest Partners LLC purchased a new position in CleanSpark during the third quarter worth about $374,000. Intech Investment Management LLC acquired a new stake in shares of CleanSpark during the third quarter valued at about $674,000. Charles Schwab Investment Management Inc. raised its stake in shares of CleanSpark by 10.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock valued at $20,500,000 after acquiring an additional 208,862 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of CleanSpark by 8.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 139,194 shares of the company’s stock worth $1,300,000 after acquiring an additional 11,329 shares during the last quarter. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

CleanSpark Stock Performance

Shares of CLSK opened at $8.79 on Tuesday. CleanSpark, Inc. has a 1 year low of $7.22 and a 1 year high of $24.72. The stock has a market capitalization of $2.47 billion, a PE ratio of 79.92 and a beta of 4.20. The stock has a 50-day simple moving average of $9.58 and a 200-day simple moving average of $10.76.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In other CleanSpark news, Chairman S. Matthew Schultz sold 9,010 shares of CleanSpark stock in a transaction on Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $95,866.40. Following the transaction, the chairman now directly owns 2,450,010 shares in the company, valued at approximately $26,068,106.40. The trade was a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amanda Cavaleri sold 13,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $7.97, for a total transaction of $103,610.00. Following the completion of the sale, the director now directly owns 140,289 shares of the company’s stock, valued at $1,118,103.33. The trade was a 8.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,186 shares of company stock valued at $349,985. 2.65% of the stock is owned by corporate insiders.

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.