CleanSpark, Inc. (NASDAQ:CLSK) Shares Sold by Synergy Asset Management LLC

Synergy Asset Management LLC trimmed its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 22.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,121 shares of the company’s stock after selling 4,012 shares during the period. Synergy Asset Management LLC’s holdings in CleanSpark were worth $133,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Sei Investments Co. boosted its position in shares of CleanSpark by 7.0% in the 2nd quarter. Sei Investments Co. now owns 30,344 shares of the company’s stock worth $484,000 after buying an additional 1,987 shares in the last quarter. Thrivent Financial for Lutherans raised its position in CleanSpark by 311.5% during the second quarter. Thrivent Financial for Lutherans now owns 86,718 shares of the company’s stock worth $1,383,000 after acquiring an additional 65,644 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of CleanSpark by 15.4% in the second quarter. Bank of Montreal Can now owns 104,074 shares of the company’s stock valued at $1,731,000 after purchasing an additional 13,868 shares in the last quarter. Xponance Inc. grew its position in shares of CleanSpark by 19.1% in the second quarter. Xponance Inc. now owns 14,449 shares of the company’s stock valued at $230,000 after purchasing an additional 2,319 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of CleanSpark by 74.6% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research note on Tuesday. JPMorgan Chase & Co. raised 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 note on Tuesday, December 10th. Keefe, Bruyette & Woods began coverage on shares of CleanSpark in a research note on Monday. They issued an “outperform” rating and a $19.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a research note on Thursday, October 3rd. Finally, Macquarie boosted their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $22.57.

CleanSpark Price Performance

NASDAQ:CLSK opened at $10.97 on Friday. The business’s 50-day moving average is $11.69 and its two-hundred day moving average is $11.91. The firm has a market capitalization of $3.21 billion, a PE ratio of -18.91 and a beta of 4.26. CleanSpark, Inc. has a 12 month low of $7.64 and a 12 month high of $24.72.

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

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.