Granite Bay Wealth Management LLC Purchases Shares of 93,000 CleanSpark, Inc. (NASDAQ:CLSK)

Granite Bay Wealth Management LLC acquired a new position in shares of CleanSpark, Inc. (NASDAQ:CLSK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 93,000 shares of the company’s stock, valued at approximately $1,563,000.

Several other institutional investors also recently modified their holdings of CLSK. American Capital Advisory LLC bought a new stake in CleanSpark during the first quarter valued at approximately $32,000. National Bank of Canada FI grew its position in 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 acquiring an additional 2,119 shares in the last quarter. Hollencrest Capital Management bought a new position in CleanSpark in the second quarter valued at $48,000. Russell Investments Group Ltd. raised its position 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 purchasing an additional 787 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in CleanSpark during the first quarter worth about $109,000. 43.12% of the stock is currently owned by institutional investors.

CleanSpark Stock Performance

Shares of CleanSpark stock opened at $9.34 on Tuesday. CleanSpark, Inc. has a 52-week low of $3.38 and a 52-week high of $24.72. The company’s 50 day moving average price is $11.57 and its 200-day moving average price is $15.26.

CleanSpark (NASDAQ:CLSK) last announced its quarterly 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). CleanSpark had a negative return on equity of 3.64% and a negative net margin of 46.31%. The firm had revenue of $104.11 million during the quarter, compared to the consensus estimate of $114.04 million. Sell-side analysts anticipate that CleanSpark, Inc. will post -0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Macquarie assumed coverage on CleanSpark in a research report on Wednesday, September 25th. They set an “outperform” rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. reduced their price target on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a research note on Tuesday, September 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of CleanSpark in a report on Wednesday, September 25th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.11.

Insider Transactions at CleanSpark

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 26,272 shares of company stock worth $256,874. Company insiders own 3.46% of the company’s stock.

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.