GAMMA Investing LLC Increases Stock Position in CleanSpark, Inc. (NASDAQ:CLSK)

GAMMA Investing LLC boosted its position in CleanSpark, Inc. (NASDAQ:CLSK) by 962.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,951 shares of the company’s stock after buying an additional 3,579 shares during the period. GAMMA Investing LLC’s holdings in CleanSpark were worth $36,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CLSK. Marshall Wace LLP acquired a new position in CleanSpark during the 2nd quarter worth approximately $18,074,000. Van ECK Associates Corp boosted its stake in shares of 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 buying an additional 620,792 shares in the last quarter. Geode Capital Management LLC grew its holdings in CleanSpark by 9.8% during the third quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock worth $57,577,000 after acquiring an additional 549,187 shares during the period. Millennium Management LLC raised its position in CleanSpark by 74.6% in the second quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock worth $19,958,000 after acquiring an additional 534,825 shares in the last quarter. Finally, Barclays PLC lifted its holdings in CleanSpark by 364.0% in the third quarter. Barclays PLC now owns 389,201 shares of the company’s stock valued at $3,634,000 after acquiring an additional 305,316 shares during the period. 43.12% of the stock is owned by hedge funds and other institutional investors.

CleanSpark Trading Up 1.6 %

Shares of CLSK opened at $10.35 on Wednesday. The company has a 50-day moving average of $12.50 and a two-hundred day moving average of $12.27. The stock has a market cap of $3.03 billion, a P/E ratio of -17.84 and a beta of 4.26. CleanSpark, Inc. has a 12-month low of $6.41 and a 12-month high of $24.72.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of CleanSpark from a “neutral” rating to an “overweight” rating and increased their price target for the company from $10.50 to $17.00 in a report on Tuesday, December 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $23.00 target price on shares of CleanSpark in a report on Thursday, October 3rd. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of CleanSpark in a research note on Tuesday, December 3rd. Finally, Macquarie raised their price objective on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock 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.