Mackenzie Financial Corp Invests $192,000 in CleanSpark, Inc. (NASDAQ:CLSK)

Mackenzie Financial Corp purchased a new stake in shares of CleanSpark, Inc. (NASDAQ:CLSK) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,043 shares of the company’s stock, valued at approximately $192,000.

Several other institutional investors have also added to or reduced their stakes in the company. American Capital Advisory LLC purchased a new position in shares of CleanSpark during the first quarter valued at about $32,000. National Bank of Canada FI grew its holdings in shares of CleanSpark by 470.9% during the 2nd quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock worth $41,000 after acquiring an additional 2,119 shares during the period. Hollencrest Capital Management bought a new position in shares of CleanSpark in the 2nd quarter worth approximately $48,000. Russell Investments Group Ltd. lifted 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 purchasing an additional 787 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new position in shares of CleanSpark in the 1st quarter valued at approximately $109,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

CleanSpark Stock Down 5.0 %

Shares of CLSK opened at $9.10 on Tuesday. CleanSpark, Inc. has a 1 year low of $3.46 and a 1 year high of $24.72. The business’s 50 day simple moving average is $10.62 and its 200-day simple moving average is $14.87.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings data 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). The company had revenue of $104.11 million for 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%. Research analysts predict that CleanSpark, Inc. will post -0.06 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. JPMorgan Chase & Co. cut 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. Macquarie started coverage on CleanSpark in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $20.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of CleanSpark in a report on Wednesday, September 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 price target on shares of CleanSpark in a research note on Thursday, October 3rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, CleanSpark presently has an average rating of “Moderate Buy” and an average target price of $19.11.

Insiders Place Their Bets

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were 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 in the company, valued at $1,266,342. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 26,272 shares of company stock worth $256,874 over the last quarter. Company insiders own 3.46% of the company’s stock.

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.