Arete Wealth Advisors LLC Makes New Investment in CleanSpark, Inc. (NASDAQ:CLSK)

Arete Wealth Advisors LLC purchased a new stake in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 96,709 shares of the company's stock, valued at approximately $903,000.

Several other hedge funds have also recently modified their holdings of CLSK. Geode Capital Management LLC increased its position in shares of CleanSpark by 9.8% during the third quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company's stock worth $57,577,000 after purchasing an additional 549,187 shares in the last quarter. State Street Corp grew its stake in CleanSpark by 4.5% during the 3rd quarter. State Street Corp now owns 6,073,912 shares of the company's stock worth $56,730,000 after buying an additional 261,195 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in CleanSpark by 10.5% during 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 buying an additional 208,862 shares in the last quarter. Van ECK Associates Corp raised its stake in CleanSpark by 64.0% in the third quarter. Van ECK Associates Corp now owns 1,590,688 shares of the company's stock valued at $14,857,000 after buying an additional 620,792 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in CleanSpark by 74.6% in the second quarter. Millennium Management LLC now owns 1,251,278 shares of the company's stock worth $19,958,000 after acquiring an additional 534,825 shares in the last quarter. Hedge funds and other institutional investors own 43.12% of the company's stock.

CleanSpark Price Performance

NASDAQ:CLSK traded down $0.50 during mid-day trading on Thursday, hitting $12.33. The company's stock had a trading volume of 40,743,152 shares, compared to its average volume of 31,390,213. The business's fifty day moving average is $12.66 and its two-hundred day moving average is $13.36. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of -21.26 and a beta of 4.16. CleanSpark, Inc. has a 1 year low of $6.41 and a 1 year high of $24.72.

Wall Street Analyst Weigh In

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

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.