Federated Hermes Inc. Has $1.03 Million Stock Position in CleanSpark, Inc. (NASDAQ:CLSK)

Federated Hermes Inc. grew its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 41.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,410 shares of the company’s stock after purchasing an additional 19,023 shares during the quarter. Federated Hermes Inc.’s holdings in CleanSpark were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. American Capital Advisory LLC bought a new position in CleanSpark during the first quarter valued at about $32,000. National Bank of Canada FI grew its position in shares of CleanSpark by 470.9% in the second quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock valued at $41,000 after purchasing an additional 2,119 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of CleanSpark by 36.8% during the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after purchasing an additional 787 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in CleanSpark during the 1st quarter valued at approximately $109,000. Finally, Copperwynd Financial LLC acquired a new stake in CleanSpark in the 4th quarter valued at approximately $112,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

CleanSpark Stock Performance

CleanSpark stock opened at $8.99 on Friday. The business has a 50 day simple moving average of $12.45 and a 200 day simple moving average of $15.55. CleanSpark, Inc. has a one year low of $3.38 and a one year high of $24.72.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings data on Friday, August 9th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). CleanSpark had a negative net margin of 46.31% and a negative return on equity of 3.64%. The company had revenue of $104.11 million for the quarter, compared to the consensus estimate of $114.04 million. As a group, sell-side analysts anticipate that CleanSpark, Inc. will post -0.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CLSK shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a research report on Tuesday, September 3rd. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. decreased their price target on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $18.97.

Insider Buying and Selling at CleanSpark

In other news, Director Thomas Leigh Wood sold 22,222 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total transaction of $205,331.28. Following the completion of the sale, the director now owns 137,050 shares of the company’s stock, valued at $1,266,342. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 26,272 shares of company stock worth $264,421 over the last ninety days. Corporate insiders own 3.46% of the company’s stock.

About CleanSpark

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.