Marshall Wace LLP Buys New Shares in CleanSpark, Inc. (NASDAQ:CLSK)

Marshall Wace LLP purchased a new position in CleanSpark, Inc. (NASDAQ:CLSK) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,133,146 shares of the company’s stock, valued at approximately $18,074,000. Marshall Wace LLP owned 0.50% of CleanSpark at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CLSK. American Capital Advisory LLC bought a new position in shares of CleanSpark during the 1st quarter worth about $32,000. National Bank of Canada FI raised its stake in CleanSpark by 470.9% during the 2nd 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 during the period. Hollencrest Capital Management bought a new position in CleanSpark in the second quarter worth approximately $48,000. 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 acquiring an additional 787 shares during the period. Finally, Banque Cantonale Vaudoise bought a new stake in shares of CleanSpark during the first quarter valued at approximately $109,000. 43.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 target price on shares of CleanSpark in a report on Tuesday, September 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a research note on Wednesday. Macquarie started coverage on shares of CleanSpark in a research report on Wednesday. They set an “outperform” rating and a $20.00 target price for the company. Finally, 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 report on Friday, August 23rd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.11.

CleanSpark Stock Performance

CleanSpark stock opened at $10.13 on Friday. CleanSpark, Inc. has a fifty-two week low of $3.38 and a fifty-two week high of $24.72. The firm’s 50-day simple moving average is $11.73 and its 200 day simple moving average is $15.32.

CleanSpark (NASDAQ:CLSK) last announced its earnings results on Friday, August 9th. The company reported $0.01 earnings per share 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 return on equity of 3.64% and a negative net margin of 46.31%. As a group, equities analysts expect that CleanSpark, Inc. will post -0.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Thomas Leigh Wood sold 22,222 shares of the firm’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 sale, the director now directly owns 137,050 shares of the company’s stock, valued at approximately $1,266,342. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 26,272 shares of company stock valued at $256,874. Insiders own 3.46% of the company’s stock.

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.