Kovitz Investment Group Partners LLC Raises Holdings in CleanSpark, Inc. (NASDAQ:CLSK)

Kovitz Investment Group Partners LLC increased its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 85.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 184,950 shares of the company's stock after acquiring an additional 85,388 shares during the quarter. Kovitz Investment Group Partners LLC owned approximately 0.07% of CleanSpark worth $1,727,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Hollencrest Capital Management grew its holdings in shares of CleanSpark by 33.3% during the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock valued at $37,000 after acquiring an additional 1,000 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of CleanSpark by 470.9% during the 2nd quarter. National Bank of Canada FI now owns 2,569 shares of the company's stock worth $41,000 after purchasing an additional 2,119 shares during the period. KBC Group NV increased its stake in CleanSpark by 42.0% in the third quarter. KBC Group NV now owns 7,403 shares of the company's stock valued at $69,000 after acquiring an additional 2,190 shares during the period. DekaBank Deutsche Girozentrale grew its stake in CleanSpark by 21.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company's stock worth $75,000 after buying an additional 1,345 shares during the last quarter. Finally, Doliver Advisors LP acquired a new position in shares of CleanSpark during the third quarter worth approximately $117,000. Institutional investors and hedge funds own 43.12% of the company's stock.

CleanSpark Stock Down 0.9 %

Shares of CleanSpark stock traded down $0.11 on Wednesday, hitting $12.83. The stock had a trading volume of 37,543,493 shares, compared to its average volume of 31,349,943. CleanSpark, Inc. has a one year low of $6.41 and a one year high of $24.72. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of -22.31 and a beta of 4.16. The stock's 50-day simple moving average is $12.51 and its two-hundred day simple moving average is $13.37.

Insider Buying and Selling at CleanSpark

In related news, Director Thomas Leigh Wood sold 22,222 shares of the firm's stock in a transaction 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 completion of the sale, the director now directly owns 137,050 shares in the company, valued at $1,266,342. This trade represents a 13.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 26,272 shares of company stock worth $254,836. Company insiders own 2.99% of the company's stock.

Wall Street Analysts Forecast Growth

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