Redwood Wealth Management Group LLC Trims Stock Position in CleanSpark, Inc. (NASDAQ:CLSK)

Redwood Wealth Management Group LLC lowered its position in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,345 shares of the company’s stock after selling 1,100 shares during the period. Redwood Wealth Management Group LLC’s holdings in CleanSpark were worth $243,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Quest Partners LLC purchased a new position in CleanSpark in the 3rd quarter worth approximately $374,000. Kovitz Investment Group Partners LLC boosted its stake in shares of CleanSpark by 85.8% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 184,950 shares of the company’s stock valued at $1,727,000 after purchasing an additional 85,388 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of CleanSpark by 10.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock valued at $20,500,000 after purchasing an additional 208,862 shares in the last quarter. Quantbot Technologies LP bought a new stake in CleanSpark during the 3rd quarter valued at $1,960,000. Finally, Clarity Capital Partners LLC raised 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 valued at $1,635,000 after buying an additional 87,891 shares during the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CLSK shares. JPMorgan Chase & Co. upgraded shares of CleanSpark from a “neutral” rating to an “overweight” rating and upped their price target for the company from $10.50 to $17.00 in a report on Tuesday, December 10th. Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a research note on Monday, January 27th. They issued an “outperform” rating and a $19.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a research report on Tuesday, January 28th. Finally, Macquarie increased their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $22.57.

CleanSpark Stock Up 2.4 %

Shares of NASDAQ CLSK opened at $10.84 on Wednesday. The firm’s 50-day moving average price is $11.47 and its 200-day moving average price is $11.65. CleanSpark, Inc. has a 52-week low of $7.64 and a 52-week high of $24.72. The company has a market cap of $3.04 billion, a PE ratio of -18.69 and a beta of 4.25.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings data on Monday, December 2nd. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.02). CleanSpark had a negative return on equity of 2.36% and a negative net margin of 38.47%. As a group, equities research analysts anticipate that CleanSpark, Inc. will post 0.18 EPS for the current fiscal year.

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.