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

Secure Asset Management LLC purchased a new stake in shares of CleanSpark, Inc. (NASDAQ:CLSK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 102,887 shares of the company’s stock, valued at approximately $948,000.

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

Analyst Ratings Changes

Several brokerages recently issued reports on CLSK. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a report on Tuesday, December 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a 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, Macquarie boosted their target price on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $23.17.

CleanSpark Stock Up 1.1 %

Shares of CLSK opened at $11.53 on Friday. The firm has a market capitalization of $3.37 billion, a PE ratio of -19.88 and a beta of 4.26. The firm has a 50-day moving average price of $11.95 and a 200 day moving average price of $12.05. CleanSpark, Inc. has a 52-week low of $6.95 and a 52-week high of $24.72.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings data 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 net margin of 38.47% and a negative return on equity of 2.36%. On average, equities analysts expect that CleanSpark, Inc. will post 0.18 EPS for the current year.

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.