Invesco Ltd. Increases Position in CleanSpark, Inc. (NASDAQ:CLSK)

Invesco Ltd. boosted its holdings in CleanSpark, Inc. (NASDAQ:CLSK) by 44.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,984,362 shares of the company’s stock after purchasing an additional 914,279 shares during the period. Invesco Ltd. owned about 1.06% of CleanSpark worth $27,486,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Compagnie Lombard Odier SCmA acquired a new position in shares of CleanSpark in the 4th quarter worth approximately $31,000. GAMMA Investing LLC boosted its holdings in CleanSpark by 962.1% in the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock worth $36,000 after purchasing an additional 3,579 shares during the period. Russell Investments Group Ltd. increased its stake in CleanSpark by 60.0% during the fourth quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company’s stock valued at $54,000 after purchasing an additional 2,196 shares during the last quarter. KBC Group NV raised its holdings in shares of CleanSpark by 36.5% during the fourth quarter. KBC Group NV now owns 10,103 shares of the company’s stock worth $93,000 after purchasing an additional 2,700 shares during the period. Finally, R Squared Ltd bought a new position in shares of CleanSpark in the 4th quarter worth about $101,000. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

CleanSpark Trading Up 3.2 %

CleanSpark stock opened at $7.51 on Friday. CleanSpark, Inc. has a 1-year low of $6.45 and a 1-year high of $21.39. The firm’s fifty day simple moving average is $8.15 and its 200-day simple moving average is $10.48. The company has a market capitalization of $2.11 billion, a P/E ratio of 68.28 and a beta of 4.12.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. On average, equities research analysts predict that CleanSpark, Inc. will post 0.58 earnings per share for the current year.

Insider Transactions at CleanSpark

In other news, Chairman S. Matthew Schultz sold 9,010 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $95,866.40. Following the sale, the chairman now owns 2,450,010 shares of the company’s stock, valued at approximately $26,068,106.40. This represents a 0.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amanda Cavaleri sold 13,000 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $7.97, for a total transaction of $103,610.00. Following the sale, the director now directly owns 140,289 shares in the company, valued at $1,118,103.33. This represents a 8.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,836 shares of company stock worth $335,945. Insiders own 2.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CLSK. Chardan Capital raised shares of CleanSpark to a “strong-buy” rating in a research report on Monday, March 24th. Needham & Company LLC assumed coverage on CleanSpark in a research report on Wednesday, February 12th. They set a “buy” rating and a $20.00 price target on the stock. Keefe, Bruyette & Woods initiated coverage on CleanSpark in a research report on Monday, January 27th. They set an “outperform” rating and a $19.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $21.57.

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.