Victory Capital Management Inc. Has $1.06 Million Stock Position in CleanSpark, Inc. (NASDAQ:CLSK)

Victory Capital Management Inc. increased its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 165.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,272 shares of the company’s stock after acquiring an additional 41,259 shares during the quarter. Victory Capital Management Inc.’s holdings in CleanSpark were worth $1,057,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Amalgamated Bank grew its position in CleanSpark by 25.4% in the 4th quarter. Amalgamated Bank now owns 13,197 shares of the company’s stock worth $146,000 after purchasing an additional 2,671 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in CleanSpark by 11.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,379,611 shares of the company’s stock valued at $15,217,000 after acquiring an additional 142,078 shares during the period. Beacon Pointe Advisors LLC acquired a new position in CleanSpark in the 4th quarter valued at approximately $331,000. Chesapeake Capital Corp IL bought a new stake in shares of CleanSpark in the 4th quarter worth approximately $525,000. Finally, Scotia Capital Inc. lifted its position in shares of CleanSpark by 14.5% in the 4th quarter. Scotia Capital Inc. now owns 11,810 shares of the company’s stock worth $130,000 after acquiring an additional 1,500 shares during the period. 43.12% of the stock is currently owned by institutional investors and hedge funds.

CleanSpark Trading Down 0.4 %

Shares of NASDAQ:CLSK opened at $8.99 on Friday. The business’s fifty day moving average price is $12.45 and its two-hundred day moving average price is $15.54. CleanSpark, Inc. has a fifty-two week low of $3.38 and a fifty-two week high of $24.72.

CleanSpark (NASDAQ:CLSK) last posted its 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). CleanSpark had a negative return on equity of 3.64% and a negative net margin of 46.31%. The firm had revenue of $104.11 million during the quarter, compared to the consensus estimate of $114.04 million. Sell-side analysts predict that CleanSpark, Inc. will post -0.06 EPS for the current year.

Insiders Place Their Bets

In other news, Director Thomas Leigh Wood sold 22,222 shares of CleanSpark stock in a transaction that occurred 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 transaction, the director now owns 137,050 shares in the company, valued at $1,266,342. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 26,272 shares of company stock valued at $264,421. 3.46% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

CleanSpark Company 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.