MAI Capital Management Boosts Stake in Cleanspark, Inc. $CLSK

MAI Capital Management increased its stake in Cleanspark, Inc. (NASDAQ:CLSK) by 267.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,113 shares of the company’s stock after purchasing an additional 22,646 shares during the quarter. MAI Capital Management’s holdings in Cleanspark were worth $343,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Cleanspark by 22.8% in the first quarter. Vanguard Group Inc. now owns 24,145,612 shares of the company’s stock worth $162,259,000 after buying an additional 4,489,866 shares in the last quarter. Nuveen LLC bought a new position in shares of Cleanspark during the 1st quarter valued at approximately $8,109,000. Public Sector Pension Investment Board purchased a new stake in Cleanspark in the 1st quarter worth approximately $5,925,000. Charles Schwab Investment Management Inc. increased its holdings in Cleanspark by 26.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,117,672 shares of the company’s stock worth $20,951,000 after acquiring an additional 652,811 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Cleanspark by 20.5% during the 1st quarter. Invesco Ltd. now owns 3,597,402 shares of the company’s stock worth $24,175,000 after acquiring an additional 613,040 shares during the period. Institutional investors own 43.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Needham & Company LLC upped their price target on shares of Cleanspark from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday. B. Riley dropped their target price on shares of Cleanspark from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday. Macquarie cut their price target on Cleanspark from $30.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Cleanspark in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised Cleanspark from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.20.

Cleanspark Stock Performance

Shares of NASDAQ CLSK opened at $13.45 on Thursday. The company has a market cap of $4.01 billion, a P/E ratio of 12.12 and a beta of 3.79. Cleanspark, Inc. has a 52-week low of $6.45 and a 52-week high of $23.61. The firm’s fifty day moving average is $15.81 and its two-hundred day moving average is $12.28.

Insider Buying and Selling at Cleanspark

In other news, COO Taylor Monnig sold 63,713 shares of Cleanspark stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $9.12, for a total value of $581,062.56. Following the sale, the chief operating officer directly owned 120,337 shares of the company’s stock, valued at approximately $1,097,473.44. The trade was a 34.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.65% of the stock is currently owned by insiders.

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.