Amalgamated Bank Purchases 1,194 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Amalgamated Bank lifted its stake in CleanSpark, Inc. (NASDAQ:CLSK) by 18.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,667 shares of the company’s stock after purchasing an additional 1,194 shares during the quarter. Amalgamated Bank’s holdings in CleanSpark were worth $122,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CLSK. Swiss National Bank raised its holdings in shares of CleanSpark by 21.3% in the first quarter. Swiss National Bank now owns 364,800 shares of the company’s stock worth $7,737,000 after buying an additional 64,000 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of CleanSpark by 6.8% during the 4th quarter. Vanguard Group Inc. now owns 8,048,511 shares of the company’s stock worth $88,775,000 after buying an additional 515,314 shares during the period. Comerica Bank purchased a new position in shares of CleanSpark during the 1st quarter valued at approximately $1,894,000. SRN Advisors LLC acquired a new stake in CleanSpark in the 1st quarter valued at $1,405,000. Finally, ProShare Advisors LLC increased its holdings in CleanSpark by 39.8% in the 1st quarter. ProShare Advisors LLC now owns 34,654 shares of the company’s stock worth $735,000 after acquiring an additional 9,858 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Thomas Leigh Wood sold 22,222 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $9.24, for a total transaction of $205,331.28. Following the transaction, the director now directly owns 137,050 shares in the company, valued at $1,266,342. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 26,272 shares of company stock valued at $256,874. 3.46% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Macquarie started coverage on shares of CleanSpark in a report on Wednesday, September 25th. They set an “outperform” rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a report on Tuesday, September 3rd. Finally, HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a report on Wednesday, September 25th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, CleanSpark has a consensus rating of “Moderate Buy” and a consensus price target of $19.11.

CleanSpark Price Performance

Shares of CLSK opened at $8.61 on Wednesday. The company’s 50-day simple moving average is $11.40 and its 200-day simple moving average is $15.21. CleanSpark, Inc. has a 1 year low of $3.38 and a 1 year 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 business had revenue of $104.11 million for the quarter, compared to analyst estimates of $114.04 million. CleanSpark had a negative return on equity of 3.64% and a negative net margin of 46.31%. As a group, sell-side analysts anticipate 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.