Clarity Capital Partners LLC Has $1.64 Million Stock Position in CleanSpark, Inc. (NASDAQ:CLSK)

Clarity Capital Partners LLC boosted its position in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 100.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 175,056 shares of the company's stock after buying an additional 87,891 shares during the quarter. CleanSpark makes up about 1.0% of Clarity Capital Partners LLC's portfolio, making the stock its 28th biggest position. Clarity Capital Partners LLC owned about 0.07% of CleanSpark worth $1,635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CLSK. Russell Investments Group Ltd. grew its stake in CleanSpark by 36.8% in the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company's stock valued at $62,000 after purchasing an additional 787 shares in the last quarter. SteelPeak Wealth LLC grew its stake in CleanSpark by 3.0% in the second quarter. SteelPeak Wealth LLC now owns 36,907 shares of the company's stock valued at $589,000 after purchasing an additional 1,066 shares in the last quarter. Amalgamated Bank grew its stake in CleanSpark by 18.4% in the second quarter. Amalgamated Bank now owns 7,667 shares of the company's stock valued at $122,000 after purchasing an additional 1,194 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in CleanSpark by 21.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company's stock valued at $75,000 after purchasing an additional 1,345 shares in the last quarter. Finally, Sei Investments Co. grew its stake in CleanSpark by 7.0% in the second quarter. Sei Investments Co. now owns 30,344 shares of the company's stock valued at $484,000 after purchasing an additional 1,987 shares in the last quarter. Institutional investors and hedge funds own 43.12% of the company's stock.

CleanSpark Stock Performance

NASDAQ:CLSK traded up $0.76 during mid-day trading on Tuesday, hitting $10.56. 25,737,068 shares of the stock were exchanged, compared to its average volume of 30,072,596. The firm's 50-day simple moving average is $10.07 and its 200 day simple moving average is $13.92. CleanSpark, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $24.72.

CleanSpark (NASDAQ:CLSK - Get Free Report) last released its quarterly earnings results on Friday, August 9th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate 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%. Research analysts anticipate that CleanSpark, Inc. will post -0.06 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Thomas Leigh Wood sold 22,222 shares of the business's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $9.24, for a total transaction of $205,331.28. Following the completion of the transaction, the director now owns 137,050 shares of the company's stock, valued at approximately $1,266,342. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 26,272 shares of company stock valued at $250,003. Insiders own 2.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CLSK. Macquarie initiated coverage on CleanSpark in a research note on Wednesday, September 25th. They issued an "outperform" rating and a $20.00 price target for the company. HC Wainwright reiterated a "buy" rating and set a $27.00 target price on shares of CleanSpark in a research note on Wednesday, September 25th. Cantor Fitzgerald reiterated an "overweight" rating and set a $23.00 target price on shares of CleanSpark in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. reduced their target price on CleanSpark from $12.50 to $10.50 and set a "neutral" rating for the company in a research note on Friday, August 23rd. 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.com, the stock has an average rating of "Moderate Buy" and an average price target of $21.42.

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.