Los Angeles Capital Management LLC Reduces Stake in Cleanspark, Inc. $CLSK

Los Angeles Capital Management LLC lowered its position in Cleanspark, Inc. (NASDAQ:CLSK) by 51.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,859 shares of the company’s stock after selling 81,133 shares during the period. Los Angeles Capital Management LLC’s holdings in Cleanspark were worth $859,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Cleanspark during the 2nd quarter valued at about $29,000. Fifth Third Bancorp boosted its holdings in shares of Cleanspark by 145.3% in the second quarter. Fifth Third Bancorp now owns 2,860 shares of the company’s stock worth $32,000 after buying an additional 1,694 shares during the last quarter. Strs Ohio bought a new stake in Cleanspark during the first quarter valued at approximately $38,000. Quarry LP purchased a new stake in Cleanspark during the first quarter valued at approximately $47,000. Finally, Russell Investments Group Ltd. raised its position in Cleanspark by 47.6% in the first quarter. Russell Investments Group Ltd. now owns 8,647 shares of the company’s stock worth $58,000 after acquiring an additional 2,788 shares during the period. Institutional investors own 43.12% of the company’s stock.

Insider Transactions at Cleanspark

In other news, COO Taylor Monnig sold 63,713 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $9.12, for a total transaction of $581,062.56. Following the sale, the chief operating officer directly owned 120,337 shares of the company’s stock, valued at $1,097,473.44. This represents a 34.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.65% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald cut their price objective on shares of Cleanspark from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Wall Street Zen upgraded Cleanspark from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. LADENBURG THALM/SH SH started coverage on Cleanspark in a research report on Monday, July 28th. They issued a “buy” rating and a $20.25 price target for the company. Macquarie raised their price objective on Cleanspark from $20.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Finally, HC Wainwright set a $30.00 price objective on Cleanspark and gave the company a “buy” rating in a research note on Wednesday, October 29th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Cleanspark has a consensus rating of “Moderate Buy” and a consensus price target of $24.02.

Cleanspark Stock Performance

CLSK opened at $11.98 on Friday. The company has a fifty day moving average of $15.67 and a 200 day moving average of $12.09. Cleanspark, Inc. has a fifty-two week low of $6.45 and a fifty-two week high of $23.61. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 14.09 and a beta of 3.79.

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.