CleanSpark, Inc. (NASDAQ:CLSK) Shares Bought by Avaii Wealth Management LLC

Avaii Wealth Management LLC grew its position in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 58.3% during the 3rd quarter, Holdings Channel reports. The firm owned 46,565 shares of the company’s stock after purchasing an additional 17,155 shares during the period. Avaii Wealth Management LLC’s holdings in CleanSpark were worth $435,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CLSK. Russell Investments Group Ltd. grew its holdings in shares of CleanSpark by 36.8% in the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after acquiring an additional 787 shares during the last quarter. SteelPeak Wealth LLC grew 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 worth $589,000 after acquiring an additional 1,066 shares during the last quarter. Amalgamated Bank grew its holdings in shares of CleanSpark by 18.4% in the 2nd quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock worth $122,000 after acquiring an additional 1,194 shares during the last quarter. Tobam grew its holdings in shares of CleanSpark by 6.4% in the 1st quarter. Tobam now owns 23,142 shares of the company’s stock worth $491,000 after acquiring an additional 1,394 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of CleanSpark by 7.0% in the 2nd 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 last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CleanSpark

In related news, Director Thomas Leigh Wood sold 22,222 shares of CleanSpark stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $9.24, for a total transaction of $205,331.28. Following the completion of the sale, the director now owns 137,050 shares of the company’s stock, valued at approximately $1,266,342. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 26,272 shares of company stock valued at $256,874. Insiders own 3.46% of the company’s stock.

Wall Street Analyst Weigh In

CLSK has been the topic of a number of recent research reports. Macquarie initiated coverage on CleanSpark in a report on Wednesday, September 25th. They issued an “outperform” rating and a $20.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a report on Friday, August 23rd. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a report on Wednesday, September 25th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 target price on shares of CleanSpark in a report on Thursday, October 3rd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.11.

CleanSpark Stock Performance

Shares of CleanSpark stock traded up $0.13 during midday trading 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. The stock has a 50-day simple moving average of $10.10 and a 200-day simple moving average of $14.34. CleanSpark, Inc. has a 1-year low of $3.46 and a 1-year high of $24.72.

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

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.