CleanSpark, Inc. (NASDAQ:CLSK) Stock Position Raised by Van ECK Associates Corp

Van ECK Associates Corp raised its holdings in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 21.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 969,896 shares of the company's stock after buying an additional 171,627 shares during the period. Van ECK Associates Corp owned about 0.43% of CleanSpark worth $15,470,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CLSK. American Capital Advisory LLC acquired a new position in shares of CleanSpark in the 1st quarter valued at $32,000. Russell Investments Group Ltd. grew its holdings in shares of CleanSpark by 36.8% during the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company's stock worth $62,000 after purchasing an additional 787 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of CleanSpark during the first quarter worth about $109,000. Copperwynd Financial LLC acquired a new stake in shares of CleanSpark during the fourth quarter worth about $112,000. Finally, VitalStone Financial LLC lifted its holdings in shares of CleanSpark by 21.7% in the 4th quarter. VitalStone Financial LLC now owns 10,825 shares of the company's stock valued at $119,000 after purchasing an additional 1,930 shares during the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CLSK has been the topic of a number of research reports. Cantor Fitzgerald dropped their price target on CleanSpark from $28.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, August 12th. JPMorgan Chase & Co. lowered their target price on shares of CleanSpark from $12.50 to $10.50 and set a "neutral" rating on the stock in a research report on Friday, August 23rd. Chardan Capital reiterated a "buy" rating and issued a $26.00 price target on shares of CleanSpark in a research report on Monday, May 13th. Finally, HC Wainwright reissued a "buy" rating and set a $27.00 price objective on shares of CleanSpark in a research note on Monday, August 12th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, CleanSpark currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.97.

CleanSpark Price Performance

Shares of CleanSpark stock traded down $0.12 during mid-day trading on Monday, hitting $10.69. 15,728,900 shares of the stock were exchanged, compared to its average volume of 31,477,428. The company has a 50-day simple moving average of $14.43 and a 200 day simple moving average of $16.37. CleanSpark, Inc. has a twelve month low of $3.38 and a twelve month high of $24.72.

CleanSpark (NASDAQ:CLSK - Get Free Report) last announced its earnings results 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 return on equity of 3.64% and a negative net margin of 46.31%. Equities analysts predict that CleanSpark, Inc. will post -0.06 earnings per share for the current 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.