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

Sanctuary Advisors LLC lifted its position in CleanSpark, Inc. (NASDAQ:CLSK) by 167.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 47,882 shares of the company’s stock after buying an additional 29,964 shares during the period. Sanctuary Advisors LLC’s holdings in CleanSpark were worth $447,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Quest Partners LLC bought a new stake in shares of CleanSpark in the 3rd quarter valued at about $374,000. Kovitz Investment Group Partners LLC raised its stake in CleanSpark by 85.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 184,950 shares of the company’s stock worth $1,727,000 after buying an additional 85,388 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in CleanSpark by 10.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock worth $20,500,000 after buying an additional 208,862 shares during the period. Quantbot Technologies LP bought a new stake in CleanSpark during the 3rd quarter valued at $1,960,000. Finally, Clarity Capital Partners LLC increased its holdings in shares of CleanSpark by 100.8% in the 3rd quarter. Clarity Capital Partners LLC now owns 175,056 shares of the company’s stock valued at $1,635,000 after acquiring an additional 87,891 shares during the period. 43.12% of the stock is owned by hedge funds and other institutional investors.

CleanSpark Trading Down 2.8 %

Shares of CleanSpark stock opened at $10.36 on Friday. CleanSpark, Inc. has a 12-month low of $6.41 and a 12-month high of $24.72. The firm’s 50 day simple moving average is $12.93 and its two-hundred day simple moving average is $13.02. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -17.86 and a beta of 4.16.

Analyst Ratings Changes

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

CleanSpark Company 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.