Amalgamated Bank Has $122,000 Stock Position in CleanSpark, Inc. (NASDAQ:CLSK)

Amalgamated Bank raised its position in CleanSpark, Inc. (NASDAQ:CLSK) by 18.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 7,667 shares of the company’s stock after acquiring an additional 1,194 shares during the period. Amalgamated Bank’s holdings in CleanSpark were worth $122,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. American Capital Advisory LLC bought a new position in shares of CleanSpark in the first quarter valued at approximately $32,000. National Bank of Canada FI lifted its holdings in CleanSpark by 470.9% during 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. boosted its position in CleanSpark by 36.8% during the first 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 period. Banque Cantonale Vaudoise purchased a new position in shares of CleanSpark in the first quarter worth about $109,000. Finally, Copperwynd Financial LLC purchased a new position in shares of CleanSpark in the fourth quarter worth about $112,000. Institutional investors own 43.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CLSK shares. HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of CleanSpark in a report on Wednesday, September 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 target price on shares of CleanSpark in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. reduced their price target on CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a research note on Friday, August 23rd. Finally, Macquarie started coverage on CleanSpark in a research report on Wednesday, September 25th. They set an “outperform” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.11.

Insiders Place Their Bets

In related news, Director Thomas Leigh Wood sold 22,222 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $9.24, for a total value of $205,331.28. Following the transaction, the director now directly owns 137,050 shares of the company’s stock, valued at approximately $1,266,342. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 26,272 shares of company stock valued at $256,874. Insiders own 3.46% of the company’s stock.

CleanSpark Price Performance

Shares of CLSK opened at $8.61 on Wednesday. The firm has a 50 day moving average of $11.40 and a 200 day moving average of $15.21. CleanSpark, Inc. has a twelve month low of $3.38 and a twelve month high of $24.72.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings data on Friday, August 9th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.03). The firm had revenue of $104.11 million during the quarter, compared to the consensus estimate of $114.04 million. CleanSpark had a negative return on equity of 3.64% and a negative net margin of 46.31%. On average, equities research analysts predict that CleanSpark, Inc. will post -0.06 EPS for the current fiscal year.

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.