Secure Asset Management LLC Makes New $948,000 Investment in CleanSpark, Inc. (NASDAQ:CLSK)

Secure Asset Management LLC acquired a new stake in CleanSpark, Inc. (NASDAQ:CLSK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 102,887 shares of the company’s stock, valued at approximately $948,000.

Several other hedge funds and other institutional investors have also modified their holdings of CLSK. Geode Capital Management LLC raised its holdings in CleanSpark by 9.8% in the third quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock valued at $57,577,000 after buying an additional 549,187 shares during the period. State Street Corp raised its stake in shares of CleanSpark by 4.5% in the 3rd quarter. State Street Corp now owns 6,073,912 shares of the company’s stock valued at $56,730,000 after acquiring an additional 261,195 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of CleanSpark during the 4th quarter valued at $39,940,000. Charles Schwab Investment Management Inc. boosted its position in CleanSpark by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock worth $20,500,000 after purchasing an additional 208,862 shares during the period. Finally, Van ECK Associates Corp boosted its position in CleanSpark by 64.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,590,688 shares of the company’s stock worth $14,857,000 after purchasing an additional 620,792 shares during the period. 43.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CLSK has been the topic of several research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a research report on Thursday, October 3rd. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of CleanSpark in a report on Tuesday, December 3rd. Macquarie upped their price target on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $10.50 to $17.00 in a research report on Tuesday, December 10th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $23.17.

CleanSpark Stock Up 1.1 %

Shares of NASDAQ CLSK opened at $11.53 on Friday. CleanSpark, Inc. has a fifty-two week low of $6.95 and a fifty-two week high of $24.72. The business has a 50 day moving average price of $11.95 and a two-hundred day moving average price of $12.05. The firm has a market cap of $3.37 billion, a PE ratio of -19.88 and a beta of 4.26.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings results on Monday, December 2nd. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). CleanSpark had a negative return on equity of 2.36% and a negative net margin of 38.47%. On average, analysts anticipate that CleanSpark, Inc. will post 0.18 earnings per share for the current 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.