State Street Corp Grows Position in CleanSpark, Inc. (NASDAQ:CLSK)

State Street Corp increased its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 4.5% in the third quarter, Holdings Channel reports. The firm owned 6,073,912 shares of the company’s stock after buying an additional 261,195 shares during the period. State Street Corp’s holdings in CleanSpark were worth $56,730,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Marshall Wace LLP acquired a new stake in shares of CleanSpark during the second quarter valued at about $18,074,000. Van ECK Associates Corp raised its position in CleanSpark by 64.0% in the third quarter. Van ECK Associates Corp now owns 1,590,688 shares of the company’s stock valued at $14,857,000 after purchasing an additional 620,792 shares during the period. Millennium Management LLC lifted its stake in CleanSpark by 74.6% during the second quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock worth $19,958,000 after purchasing an additional 534,825 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of CleanSpark by 32.8% during the second quarter. Bank of New York Mellon Corp now owns 871,793 shares of the company’s stock worth $13,905,000 after buying an additional 215,124 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of CleanSpark in the third quarter valued at $1,960,000. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

CleanSpark Stock Down 8.4 %

Shares of CleanSpark stock opened at $11.32 on Thursday. CleanSpark, Inc. has a 52-week low of $6.41 and a 52-week high of $24.72. The company has a market capitalization of $3.31 billion, a P/E ratio of -19.52 and a beta of 4.16. The company has a 50 day moving average of $12.85 and a 200 day moving average of $13.21.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Macquarie increased their target price on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a research note on Thursday, October 3rd. JPMorgan Chase & Co. raised 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, HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a research report on Tuesday, December 3rd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target 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.