Intech Investment Management LLC Takes $674,000 Position in CleanSpark, Inc. (NASDAQ:CLSK)

Intech Investment Management LLC bought a new stake in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 72,167 shares of the company's stock, valued at approximately $674,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CLSK. Russell Investments Group Ltd. raised its holdings in CleanSpark by 36.8% in the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company's stock valued at $62,000 after buying an additional 787 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in CleanSpark by 21.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 110,345 shares of the company's stock worth $2,341,000 after buying an additional 19,622 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in shares of CleanSpark in the first quarter valued at about $460,000. California State Teachers Retirement System raised its position in shares of CleanSpark by 15.7% during the first quarter. California State Teachers Retirement System now owns 185,781 shares of the company's stock worth $3,940,000 after acquiring an additional 25,145 shares during the last quarter. Finally, Comerica Bank acquired a new stake in CleanSpark during the 1st quarter valued at approximately $1,894,000. Institutional investors own 43.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of CleanSpark from $12.50 to $10.50 and set a "neutral" rating for the company in a research note on Friday, August 23rd. Macquarie assumed coverage on CleanSpark in a report on Wednesday, September 25th. They set an "outperform" rating and a $20.00 price target on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $23.00 target price on shares of CleanSpark in a research report on Thursday, October 3rd. Finally, HC Wainwright reiterated a "buy" rating and set a $27.00 price objective on shares of CleanSpark in a report on Wednesday, September 25th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $21.42.

CleanSpark Stock Up 3.5 %

CleanSpark stock traded up $0.49 during midday trading on Friday, hitting $14.35. 28,952,510 shares of the stock were exchanged, compared to its average volume of 36,905,532. CleanSpark, Inc. has a 52-week low of $5.73 and a 52-week high of $24.72. The business's 50-day moving average price is $11.86 and its 200-day moving average price is $13.57.

Insider Buying and Selling

In related news, Director Thomas Leigh Wood sold 22,222 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $9.24, for a total value of $205,331.28. Following the transaction, the director now owns 137,050 shares in the company, valued at approximately $1,266,342. This represents a 13.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 26,272 shares of company stock worth $254,836. 2.99% of the stock is owned by company 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.