Sanctuary Advisors LLC Acquires New Stake in CleanSpark, Inc. (NASDAQ:CLSK)

Sanctuary Advisors LLC bought a new position in shares of CleanSpark, Inc. (NASDAQ:CLSK) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 17,918 shares of the company’s stock, valued at approximately $286,000.

A number of other institutional investors have also added to or reduced their stakes in CLSK. Vanguard Group Inc. boosted its position in shares of 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 acquiring an additional 4,706,738 shares during the last quarter. Millennium Management LLC raised its stake in CleanSpark by 74.6% in the second quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock valued at $19,958,000 after purchasing an additional 534,825 shares in the last quarter. Marshall Wace LLP bought a new stake in CleanSpark during the second quarter valued at approximately $18,074,000. Van ECK Associates Corp lifted its position in CleanSpark by 21.5% during the second quarter. Van ECK Associates Corp now owns 969,896 shares of the company’s stock valued at $15,470,000 after purchasing an additional 171,627 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in CleanSpark by 32.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 871,793 shares of the company’s stock worth $13,905,000 after buying an additional 215,124 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Thomas Leigh Wood sold 22,222 shares of CleanSpark stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total value of $205,331.28. Following the transaction, the director now directly owns 137,050 shares of the company’s stock, valued at $1,266,342. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 26,272 shares of company stock valued at $256,874. 3.46% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CLSK. JPMorgan Chase & Co. lowered their price objective 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. Macquarie assumed coverage on CleanSpark in a research report on Wednesday, September 25th. They set an “outperform” rating and a $20.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a research note on Thursday, October 3rd. Finally, HC Wainwright reiterated a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.11.

CleanSpark Stock Up 9.7 %

Shares of NASDAQ:CLSK opened at $12.86 on Friday. The stock’s 50-day moving average price is $10.12 and its 200-day moving average price is $14.28. CleanSpark, Inc. has a 12-month low of $3.46 and a 12-month high of $24.72.

CleanSpark (NASDAQ:CLSK) last issued its earnings results on Friday, August 9th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate 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%. On average, equities research analysts predict that CleanSpark, Inc. will post -0.06 earnings per share 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.