SRN Advisors LLC Has $2.52 Million Stock Holdings in CleanSpark, Inc. (NASDAQ:CLSK)

SRN Advisors LLC boosted its holdings in CleanSpark, Inc. (NASDAQ:CLSK) by 138.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 158,144 shares of the company’s stock after buying an additional 91,886 shares during the quarter. CleanSpark makes up 2.1% of SRN Advisors LLC’s holdings, making the stock its 10th biggest holding. SRN Advisors LLC owned approximately 0.07% of CleanSpark worth $2,522,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of CleanSpark by 58.5% during the 1st quarter. Vanguard Group Inc. now owns 12,755,249 shares of the company’s stock valued at $270,539,000 after acquiring an additional 4,706,738 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of CleanSpark during the second quarter valued at about $18,074,000. Millennium Management LLC grew its holdings in shares of CleanSpark by 74.6% during the second quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock worth $19,958,000 after purchasing an additional 534,825 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of CleanSpark by 32.8% in the second quarter. Bank of New York Mellon Corp now owns 871,793 shares of the company’s stock valued at $13,905,000 after buying an additional 215,124 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of CleanSpark by 21.5% in the second quarter. Van ECK Associates Corp now owns 969,896 shares of the company’s stock valued at $15,470,000 after buying an additional 171,627 shares during the period. Institutional investors own 43.12% of the company’s stock.

Insider Activity

In related news, Director Thomas Leigh Wood sold 22,222 shares of the business’s stock in a transaction 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 transaction, the director now owns 137,050 shares in the company, valued at approximately $1,266,342. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 26,272 shares of company stock worth $256,874 in the last quarter. 3.46% of the stock is owned by corporate insiders.

CleanSpark Price Performance

Shares of NASDAQ:CLSK opened at $8.61 on Wednesday. CleanSpark, Inc. has a 1 year low of $3.38 and a 1 year high of $24.72. The business’s 50-day moving average is $11.40 and its 200-day moving average is $15.21.

CleanSpark (NASDAQ:CLSK) last issued its earnings results on Friday, August 9th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $104.11 million during the quarter, compared to the consensus estimate of $114.04 million. Equities analysts anticipate that CleanSpark, Inc. will post -0.06 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.