Quest Partners LLC Purchases Shares of 40,001 CleanSpark, Inc. (NASDAQ:CLSK)

Quest Partners LLC acquired a new stake in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 40,001 shares of the company's stock, valued at approximately $374,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in CleanSpark by 58.5% during the 1st quarter. Vanguard Group Inc. now owns 12,755,249 shares of the company's stock valued at $270,539,000 after buying an additional 4,706,738 shares during the last quarter. Van ECK Associates Corp raised its position in CleanSpark by 64.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,590,688 shares of the company's stock valued at $14,857,000 after purchasing an additional 620,792 shares during the last quarter. Millennium Management LLC grew its position in shares of CleanSpark by 74.6% in the 2nd quarter. Millennium Management LLC now owns 1,251,278 shares of the company's stock worth $19,958,000 after buying an additional 534,825 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of CleanSpark during the second quarter valued at approximately $18,074,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of CleanSpark by 32.8% during the second quarter. Bank of New York Mellon Corp now owns 871,793 shares of the company's stock valued at $13,905,000 after acquiring an additional 215,124 shares in the last quarter. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director Thomas Leigh Wood sold 22,222 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $1,266,342. This trade represents a 13.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 26,272 shares of company stock valued at $250,003. 2.99% of the stock is owned by insiders.

CleanSpark Stock Performance

Shares of NASDAQ CLSK traded down $0.15 during trading on Monday, reaching $14.95. 41,784,320 shares of the company traded hands, compared to its average volume of 30,970,496. The firm has a 50 day simple moving average of $11.37 and a 200-day simple moving average of $13.61. CleanSpark, Inc. has a 52-week low of $5.16 and a 52-week high of $24.72.

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.