Alight Capital Management LP Takes Position in CleanSpark, Inc. (NASDAQ:CLSK)

Alight Capital Management LP bought a new position in shares of CleanSpark, Inc. (NASDAQ:CLSK) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $798,000.

Other institutional investors also recently bought and sold shares of the company. American Capital Advisory LLC purchased a new stake in CleanSpark in the 1st quarter worth $32,000. National Bank of Canada FI lifted its position in shares of CleanSpark by 470.9% in the second quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock worth $41,000 after buying an additional 2,119 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in CleanSpark by 36.8% during the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock valued at $62,000 after buying an additional 787 shares during the last quarter. Hollencrest Capital Management purchased a new position in CleanSpark during the 2nd quarter valued at approximately $48,000. Finally, Banque Cantonale Vaudoise bought a new stake in CleanSpark in the 1st quarter worth approximately $109,000. 43.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CleanSpark

In other news, Director Thomas Leigh Wood sold 22,222 shares of CleanSpark stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total transaction of $205,331.28. Following the completion of the sale, the director now owns 137,050 shares of the company’s stock, valued at $1,266,342. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 26,272 shares of company stock valued at $264,421 in the last three months. Company insiders own 3.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $23.00 price objective on shares of CleanSpark in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. reduced their target price on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a report on Friday, August 23rd. Finally, Macquarie began coverage on shares of CleanSpark in a report on Wednesday. They issued an “outperform” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.11.

CleanSpark Stock Performance

Shares of NASDAQ:CLSK opened at $9.63 on Wednesday. The business has a 50 day simple moving average of $12.06 and a two-hundred day simple moving average of $15.40. CleanSpark, Inc. has a 1 year low of $3.38 and a 1 year high of $24.72.

CleanSpark (NASDAQ:CLSK) last issued 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 company had revenue of $104.11 million for 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%. As a group, equities research analysts predict that CleanSpark, Inc. will post -0.06 EPS for the current fiscal 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.