CleanSpark, Inc. (NASDAQ:CLSK) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP lifted its holdings in CleanSpark, Inc. (NASDAQ:CLSK) by 48.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,176 shares of the company’s stock after purchasing an additional 9,579 shares during the quarter. Wellington Management Group LLP’s holdings in CleanSpark were worth $273,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Hollencrest Capital Management boosted its holdings in CleanSpark by 33.3% in the third quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $37,000 after acquiring an additional 1,000 shares in the last quarter. National Bank of Canada FI boosted its stake in CleanSpark by 470.9% in the 2nd quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock worth $41,000 after purchasing an additional 2,119 shares in the last quarter. KBC Group NV grew its position in CleanSpark by 42.0% during the 3rd quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $69,000 after purchasing an additional 2,190 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in CleanSpark by 21.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after purchasing an additional 1,345 shares during the last quarter. Finally, Doliver Advisors LP acquired a new position in CleanSpark during the 3rd quarter valued at approximately $117,000. 43.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CLSK shares. JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $10.50 to $17.00 in a report on Tuesday, December 10th. Macquarie boosted their price target on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a research note on Thursday, October 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of CleanSpark in a report on Tuesday, December 3rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, CleanSpark has an average rating of “Buy” and an average target price of $23.17.

CleanSpark Stock Up 2.1 %

Shares of CLSK stock opened at $11.14 on Friday. The stock has a market cap of $3.26 billion, a PE ratio of -19.21 and a beta of 4.16. CleanSpark, Inc. has a 52-week low of $6.41 and a 52-week high of $24.72. The business has a 50-day simple moving average of $12.97 and a 200-day simple moving average of $13.15.

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.