Vontobel Holding Ltd. Acquires 70,295 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Vontobel Holding Ltd. raised its position in CleanSpark, Inc. (NASDAQ:CLSK) by 111.2% during the fourth quarter, Holdings Channel reports. The firm owned 133,532 shares of the company’s stock after purchasing an additional 70,295 shares during the period. Vontobel Holding Ltd.’s holdings in CleanSpark were worth $1,230,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CLSK. Quest Partners LLC acquired a new position in shares of CleanSpark during the 3rd quarter valued at $374,000. Kovitz Investment Group Partners LLC lifted its position in shares of CleanSpark by 85.8% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 184,950 shares of the company’s stock valued at $1,727,000 after acquiring an additional 85,388 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of CleanSpark by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock valued at $20,500,000 after acquiring an additional 208,862 shares during the period. Quantbot Technologies LP acquired a new position in shares of CleanSpark during the 3rd quarter valued at $1,960,000. Finally, Clarity Capital Partners LLC lifted its position in shares of CleanSpark by 100.8% during 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. Institutional investors and hedge funds own 43.12% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CLSK. Macquarie boosted their price target on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of CleanSpark in a research note on Friday, February 7th. Keefe, Bruyette & Woods initiated coverage on shares of CleanSpark in a research note on Monday, January 27th. They set an “outperform” rating and a $19.00 price target for the company. 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 research note on Tuesday, December 10th. Finally, Needham & Company LLC initiated coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They issued a “buy” rating and a $20.00 target price for the company. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $22.25.

Insider Activity at CleanSpark

In other CleanSpark news, CEO Zachary Bradford sold 10,533 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $112,071.12. Following the completion of the transaction, the chief executive officer now owns 3,059,326 shares of the company’s stock, valued at approximately $32,551,228.64. This trade represents a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman S. Matthew Schultz sold 9,010 shares of CleanSpark stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $10.64, for a total value of $95,866.40. Following the completion of the transaction, the chairman now directly owns 2,450,010 shares of the company’s stock, valued at approximately $26,068,106.40. This represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,536 shares of company stock valued at $265,748 over the last three months. 2.65% of the stock is owned by corporate insiders.

CleanSpark Stock Performance

CLSK opened at $10.50 on Tuesday. The firm has a market cap of $2.95 billion, a P/E ratio of 95.46 and a beta of 4.24. The firm has a 50-day moving average of $10.83 and a 200 day moving average of $11.28. CleanSpark, Inc. has a fifty-two week low of $8.04 and a fifty-two week high of $24.72.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.81%. Equities research analysts predict that CleanSpark, Inc. will post 0.29 earnings per share for the current fiscal year.

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.