Principal Financial Group Inc. Sells 8,693 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Principal Financial Group Inc. cut its position in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 29.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,244 shares of the company’s stock after selling 8,693 shares during the quarter. Principal Financial Group Inc.’s holdings in CleanSpark were worth $198,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CLSK. Rhumbline Advisers boosted its stake in shares of CleanSpark by 4.6% during the 2nd quarter. Rhumbline Advisers now owns 313,148 shares of the company’s stock worth $4,995,000 after acquiring an additional 13,746 shares during the period. National Bank of Canada FI lifted its position in shares of CleanSpark by 470.9% during the 2nd quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock valued at $41,000 after acquiring an additional 2,119 shares during the period. Victory Capital Management Inc. increased its holdings in CleanSpark by 165.0% in the 2nd quarter. Victory Capital Management Inc. now owns 66,272 shares of the company’s stock valued at $1,057,000 after buying an additional 41,259 shares during the period. Arizona State Retirement System boosted its holdings in shares of CleanSpark by 24.3% in the 2nd quarter. Arizona State Retirement System now owns 63,108 shares of the company’s stock valued at $1,007,000 after purchasing an additional 12,335 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of CleanSpark in the second quarter worth about $459,000. Institutional investors own 43.12% of the company’s stock.

CleanSpark Trading Up 5.8 %

CLSK opened at $11.43 on Tuesday. The company has a 50 day moving average of $12.58 and a 200 day moving average of $12.53. CleanSpark, Inc. has a 12 month low of $6.41 and a 12 month high of $24.72. The company has a market cap of $3.34 billion, a PE ratio of -19.71 and a beta of 4.26.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Macquarie boosted their price target on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded shares of CleanSpark from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $10.50 to $17.00 in a report on Tuesday, December 10th. Finally, 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. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $23.17.

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.