Thrivent Financial for Lutherans Grows Stock Position in CleanSpark, Inc. (NASDAQ:CLSK)

Thrivent Financial for Lutherans lifted its stake in CleanSpark, Inc. (NASDAQ:CLSK) by 311.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,718 shares of the company’s stock after buying an additional 65,644 shares during the period. Thrivent Financial for Lutherans’ holdings in CleanSpark were worth $1,383,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Sei Investments Co. increased its holdings in shares of CleanSpark by 7.0% in the second quarter. Sei Investments Co. now owns 30,344 shares of the company’s stock worth $484,000 after buying an additional 1,987 shares during the period. Hollencrest Capital Management purchased a new position in shares of CleanSpark in the second quarter worth about $48,000. Intrepid Financial Planning Group LLC grew its stake in shares of CleanSpark by 14.3% in the second quarter. Intrepid Financial Planning Group LLC now owns 20,023 shares of the company’s stock worth $319,000 after purchasing an additional 2,500 shares during the last quarter. Shariaportfolio Inc. grew its stake in shares of CleanSpark by 4.6% in the second quarter. Shariaportfolio Inc. now owns 653,304 shares of the company’s stock worth $10,421,000 after purchasing an additional 28,767 shares during the last quarter. Finally, Amalgamated Bank grew its stake in shares of CleanSpark by 18.4% in the second quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock worth $122,000 after purchasing an additional 1,194 shares during the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a research note on Friday, August 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 target price on shares of CleanSpark in a research note on Thursday. Macquarie assumed coverage on CleanSpark in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research note on Wednesday, September 25th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, CleanSpark has a consensus rating of “Moderate Buy” and an average price target of $19.11.

Insider Buying and Selling

In related news, Director Thomas Leigh Wood sold 22,222 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $9.24, for a total value of $205,331.28. Following the sale, the director now owns 137,050 shares in the company, valued at $1,266,342. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 26,272 shares of company stock worth $256,874 in the last 90 days. Insiders own 3.46% of the company’s stock.

CleanSpark Price Performance

Shares of CLSK opened at $9.58 on Friday. The business’s 50 day moving average price is $10.76 and its 200-day moving average price is $15.00. CleanSpark, Inc. has a 52 week low of $3.38 and a 52 week high of $24.72.

CleanSpark (NASDAQ:CLSK) last posted its quarterly 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 company had revenue of $104.11 million during the quarter, compared to analysts’ expectations of $114.04 million. CleanSpark had a negative return on equity of 3.64% and a negative net margin of 46.31%. On average, analysts forecast that CleanSpark, Inc. will post -0.06 EPS for the current 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.