Quest Partners LLC Makes New $374,000 Investment in CleanSpark, Inc. (NASDAQ:CLSK)

Quest Partners LLC acquired a new stake in CleanSpark, Inc. (NASDAQ:CLSK) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 40,001 shares of the company’s stock, valued at approximately $374,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. grew its stake in CleanSpark by 36.8% in the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock valued at $62,000 after purchasing an additional 787 shares in the last quarter. Hollencrest Capital Management grew its stake in shares of CleanSpark by 33.3% in the third quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $37,000 after buying an additional 1,000 shares in the last quarter. SteelPeak Wealth LLC grew its stake in shares of CleanSpark by 3.0% in the second quarter. SteelPeak Wealth LLC now owns 36,907 shares of the company’s stock valued at $589,000 after buying an additional 1,066 shares in the last quarter. Amalgamated Bank increased its holdings in CleanSpark by 18.4% during the second quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock worth $122,000 after buying an additional 1,194 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in CleanSpark by 21.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after acquiring an additional 1,345 shares in the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

Insider Buying and Selling

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $9.24, for a total transaction of $205,331.28. Following the transaction, the director now owns 137,050 shares in the company, valued at $1,266,342. This trade represents a 13.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 26,272 shares of company stock valued at $250,003. Insiders own 2.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a research report on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price target on CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. Macquarie initiated coverage on CleanSpark in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $23.00 target price on shares of CleanSpark in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.42.

CleanSpark Stock Performance

Shares of NASDAQ:CLSK opened at $15.10 on Monday. CleanSpark, Inc. has a 12-month low of $4.87 and a 12-month high of $24.72. The business has a 50 day moving average of $11.37 and a 200-day moving average of $13.63.

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.