Intech Investment Management LLC Takes Position in CleanSpark, Inc. (NASDAQ:CLSK)

Intech Investment Management LLC purchased a new position in CleanSpark, Inc. (NASDAQ:CLSK) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 72,167 shares of the company’s stock, valued at approximately $674,000.

Several other large investors also recently bought and sold shares of CLSK. Hollencrest Capital Management grew its holdings in shares of CleanSpark by 33.3% in the third quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares during the period. National Bank of Canada FI boosted its holdings in CleanSpark by 470.9% in the 2nd 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. grew its stake in shares of CleanSpark by 36.8% in the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock valued at $62,000 after buying an additional 787 shares during the period. KBC Group NV raised its position in CleanSpark by 42.0% in the third quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $69,000 after purchasing an additional 2,190 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of CleanSpark by 21.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after buying an additional 1,345 shares during the period. Hedge funds and other institutional investors own 43.12% of the company’s stock.

CleanSpark Stock Up 3.5 %

CLSK stock opened at $14.35 on Friday. The stock’s 50 day moving average price is $11.86 and its 200 day moving average price is $13.57. CleanSpark, Inc. has a 1 year low of $5.73 and a 1 year high of $24.72.

Insider Buying and Selling at CleanSpark

In other news, Director Thomas Leigh Wood sold 22,222 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total value 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. This represents a 13.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 26,272 shares of company stock worth $254,836. Insiders own 2.99% of the company’s stock.

Wall Street Analyst Weigh In

CLSK has been the subject of several research reports. Macquarie started coverage on CleanSpark in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $20.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a report on Thursday, October 3rd. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of CleanSpark in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lowered their target price on CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a research note on Friday, August 23rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.42.

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.