CleanSpark, Inc. (NASDAQ:CLSK) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 29.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,244 shares of the company’s stock after selling 8,693 shares during the quarter. Principal Financial Group Inc.’s holdings in CleanSpark were worth $198,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Hollencrest Capital Management boosted its position in shares of CleanSpark by 33.3% during the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares in the last quarter. FMR LLC increased its position in CleanSpark by 5.0% in the 3rd quarter. FMR LLC now owns 24,729 shares of the company’s stock worth $231,000 after purchasing an additional 1,170 shares during the last quarter. Amalgamated Bank grew its position in CleanSpark by 18.4% in the second quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock worth $122,000 after acquiring an additional 1,194 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in CleanSpark by 21.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock valued at $75,000 after buying an additional 1,345 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in CleanSpark by 2.6% during the third quarter. Victory Capital Management Inc. now owns 67,981 shares of the company’s stock worth $635,000 after purchasing an additional 1,709 shares during the period. 43.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Macquarie increased their target price on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $23.00 target price on shares of CleanSpark in a research report on Thursday, October 3rd. JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $10.50 to $17.00 in a report on Tuesday, December 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a report on Tuesday, December 3rd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, CleanSpark presently has an average rating of “Buy” and a consensus price target of $23.17.

CleanSpark Price Performance

Shares of CleanSpark stock opened at $11.43 on Tuesday. The business has a 50-day moving average of $12.58 and a two-hundred day moving average of $12.53. CleanSpark, Inc. has a 1 year low of $6.41 and a 1 year high of $24.72. The company has a market capitalization of $3.34 billion, a P/E ratio of -19.71 and a beta of 4.26.

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.