Assenagon Asset Management S.A. Makes New Investment in CleanSpark, Inc. (NASDAQ:CLSK)

Assenagon Asset Management S.A. acquired a new position in shares of CleanSpark, Inc. (NASDAQ:CLSK) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,336,612 shares of the company’s stock, valued at approximately $39,940,000.

Several other hedge funds have also modified their holdings of the stock. Quest Partners LLC purchased a new stake in CleanSpark during the 3rd quarter worth about $374,000. Kovitz Investment Group Partners LLC increased its stake in shares of CleanSpark by 85.8% during the third quarter. Kovitz Investment Group Partners LLC now owns 184,950 shares of the company’s stock worth $1,727,000 after buying an additional 85,388 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in CleanSpark by 10.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock valued at $20,500,000 after acquiring an additional 208,862 shares in the last quarter. Quantbot Technologies LP purchased a new position in CleanSpark in the third quarter worth approximately $1,960,000. Finally, Clarity Capital Partners LLC grew its holdings in CleanSpark by 100.8% during the 3rd quarter. Clarity Capital Partners LLC now owns 175,056 shares of the company’s stock worth $1,635,000 after acquiring an additional 87,891 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CLSK has been the topic of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a report on Thursday, October 3rd. HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a research note on Tuesday, December 3rd. Macquarie upped their price objective on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised CleanSpark from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $10.50 to $17.00 in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CleanSpark currently has a consensus rating of “Buy” and a consensus price target of $23.17.

CleanSpark Stock Performance

Shares of CLSK stock opened at $11.18 on Friday. The stock’s 50-day moving average is $12.41 and its two-hundred day moving average is $12.25. CleanSpark, Inc. has a 1 year low of $6.41 and a 1 year high of $24.72. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of -19.28 and a beta of 4.26.

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.