Van ECK Associates Corp Grows Holdings in CleanSpark, Inc. (NASDAQ:CLSK)

Van ECK Associates Corp increased its position in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 64.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,590,688 shares of the company's stock after purchasing an additional 620,792 shares during the quarter. Van ECK Associates Corp owned approximately 0.63% of CleanSpark worth $14,857,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in shares of CleanSpark during the 1st quarter valued at approximately $1,024,000. VitalStone Financial LLC increased its position in shares of CleanSpark by 35.4% during the first quarter. VitalStone Financial LLC now owns 14,655 shares of the company's stock worth $283,000 after acquiring an additional 3,830 shares during the period. Empowered Funds LLC raised its position in CleanSpark by 8.1% during the 1st quarter. Empowered Funds LLC now owns 153,867 shares of the company's stock valued at $3,264,000 after purchasing an additional 11,550 shares in the last quarter. SG Americas Securities LLC lifted its stake in CleanSpark by 77.6% in the first quarter. SG Americas Securities LLC now owns 95,223 shares of the company's stock worth $2,020,000 after acquiring an additional 41,605 shares during the period. Finally, Swiss National Bank boosted its stake in shares of CleanSpark by 21.3% during the first quarter. Swiss National Bank now owns 364,800 shares of the company's stock valued at $7,737,000 after purchasing an additional 64,000 shares in the last quarter. Hedge funds and other institutional investors own 43.12% of the company's stock.

Wall Street Analyst Weigh In

CLSK has been the topic of a number of analyst reports. Macquarie started coverage on shares of CleanSpark in a research report on Wednesday, September 25th. They issued an "outperform" rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on CleanSpark from $12.50 to $10.50 and set a "neutral" rating for the company in a report on Friday, August 23rd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $23.00 price target on shares of CleanSpark in a research report on Thursday, October 3rd. Finally, HC Wainwright reaffirmed a "buy" rating and set a $27.00 price objective on shares of CleanSpark in a research note on Wednesday, September 25th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.42.

Insider Activity

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the company's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $9.24, for a total value of $205,331.28. Following the sale, the director now owns 137,050 shares of the company's stock, valued at $1,266,342. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 26,272 shares of company stock worth $250,003. Company insiders own 2.99% of the company's stock.

CleanSpark Stock Performance

CleanSpark stock traded up $2.43 during mid-day trading on Wednesday, hitting $12.99. The company had a trading volume of 49,091,639 shares, compared to its average volume of 30,162,402. The business has a fifty day moving average of $10.12 and a 200 day moving average of $13.91. CleanSpark, Inc. has a 1 year low of $3.46 and a 1 year high of $24.72.

CleanSpark (NASDAQ:CLSK - Get Free Report) last announced its earnings results on Friday, August 9th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.03). The business had revenue of $104.11 million during the quarter, compared to analysts' expectations of $114.04 million. CleanSpark had a negative net margin of 46.31% and a negative return on equity of 3.64%. Research analysts forecast that CleanSpark, Inc. will post -0.06 EPS for the current fiscal year.

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.