Clarity Capital Partners LLC Raises Position in CleanSpark, Inc. (NASDAQ:CLSK)

Clarity Capital Partners LLC lifted its position in CleanSpark, Inc. (NASDAQ:CLSK) by 20.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 210,642 shares of the company’s stock after acquiring an additional 35,586 shares during the period. CleanSpark comprises about 1.0% of Clarity Capital Partners LLC’s investment portfolio, making the stock its 24th biggest holding. Clarity Capital Partners LLC’s holdings in CleanSpark were worth $1,940,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CLSK. Geode Capital Management LLC increased its holdings in CleanSpark by 9.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock worth $57,577,000 after buying an additional 549,187 shares in the last quarter. State Street Corp grew its stake in shares of CleanSpark by 4.5% in the third quarter. State Street Corp now owns 6,073,912 shares of the company’s stock worth $56,730,000 after acquiring an additional 261,195 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of CleanSpark during the fourth quarter valued at approximately $39,940,000. Van ECK Associates Corp lifted its position in CleanSpark by 40.0% during the fourth quarter. Van ECK Associates Corp now owns 2,227,199 shares of the company’s stock valued at $20,513,000 after purchasing an additional 636,511 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in CleanSpark by 10.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock worth $20,500,000 after purchasing an additional 208,862 shares during the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

CleanSpark Stock Up 2.3 %

CLSK stock opened at $10.52 on Thursday. The business’s 50-day moving average price is $11.05 and its 200-day moving average price is $11.42. The stock has a market cap of $2.95 billion, a P/E ratio of 95.65 and a beta of 4.24. CleanSpark, Inc. has a twelve month low of $8.04 and a twelve month high of $24.72.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.81%. On average, equities research analysts expect that CleanSpark, Inc. will post 0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CLSK has been the topic of several research analyst reports. JPMorgan Chase & Co. raised CleanSpark from a “neutral” rating to an “overweight” rating and increased their price target for the company from $10.50 to $17.00 in a report on Tuesday, December 10th. Macquarie increased their target price on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Keefe, Bruyette & Woods began coverage on CleanSpark in a research note on Monday, January 27th. They set an “outperform” rating and a $19.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a research note on Friday, February 7th. Finally, Needham & Company LLC began coverage on shares of CleanSpark in a report on Wednesday. They issued a “buy” rating and a $20.00 price objective on the stock. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $22.25.

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.