Algert Global LLC Cuts Stock Holdings in CleanSpark, Inc. (NASDAQ:CLSK)

Algert Global LLC trimmed its stake in CleanSpark, Inc. (NASDAQ:CLSK) by 45.8% during the 3rd quarter, Holdings Channel reports. The firm owned 51,776 shares of the company’s stock after selling 43,700 shares during the quarter. Algert Global LLC’s holdings in CleanSpark were worth $484,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Russell Investments Group Ltd. raised its position in CleanSpark by 36.8% during 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. Price T Rowe Associates Inc. MD lifted its position in CleanSpark by 21.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 110,345 shares of the company’s stock worth $2,341,000 after buying an additional 19,622 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in CleanSpark in the first quarter worth approximately $460,000. California State Teachers Retirement System grew its position in CleanSpark by 15.7% during the first quarter. California State Teachers Retirement System now owns 185,781 shares of the company’s stock valued at $3,940,000 after acquiring an additional 25,145 shares during the last quarter. Finally, Comerica Bank purchased a new position in shares of CleanSpark during the first quarter worth approximately $1,894,000. 43.12% of the stock is owned by hedge funds and other institutional investors.

CleanSpark Trading Up 3.5 %

CleanSpark stock opened at $14.35 on Friday. CleanSpark, Inc. has a 1-year low of $5.73 and a 1-year high of $24.72. The firm has a 50-day moving average of $11.86 and a 200-day moving average of $13.57.

Analysts Set New Price Targets

Several equities analysts recently commented on CLSK shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 target price on shares of CleanSpark in a report on Thursday, October 3rd. JPMorgan Chase & Co. cut their price target on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company 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 target price for the company. Finally, HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of CleanSpark in a research report on Wednesday, September 25th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.42.

Insiders Place Their Bets

In related news, Director Thomas Leigh Wood sold 22,222 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 137,050 shares in the company, valued at $1,266,342. This represents a 13.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 26,272 shares of company stock worth $254,836. 2.99% of the stock is currently owned by company 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.