CleanSpark, Inc. (NASDAQ:CLSK) Holdings Lifted by Shariaportfolio Inc.

Shariaportfolio Inc. raised its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 4.6% during the second quarter, HoldingsChannel reports. The fund owned 653,304 shares of the company’s stock after purchasing an additional 28,767 shares during the quarter. CleanSpark comprises about 5.6% of Shariaportfolio Inc.’s investment portfolio, making the stock its 7th biggest holding. Shariaportfolio Inc.’s holdings in CleanSpark were worth $10,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CLSK. Amalgamated Bank increased its holdings in shares of CleanSpark by 18.4% in the 2nd 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. Virtu Financial LLC lifted its position in shares of CleanSpark by 1,249.1% in the 2nd quarter. Virtu Financial LLC now owns 150,698 shares of the company’s stock worth $2,404,000 after purchasing an additional 139,528 shares during the period. Federated Hermes Inc. boosted its position in shares of CleanSpark by 41.9% during the second quarter. Federated Hermes Inc. now owns 64,410 shares of the company’s stock valued at $1,027,000 after purchasing an additional 19,023 shares in the last quarter. VitalStone Financial LLC grew its holdings in CleanSpark by 333.2% in the second quarter. VitalStone Financial LLC now owns 63,481 shares of the company’s stock worth $1,013,000 after purchasing an additional 48,826 shares during the period. Finally, ClariVest Asset Management LLC bought a new position in shares of CleanSpark during the second quarter valued at $271,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

CleanSpark Trading Up 0.9 %

NASDAQ CLSK opened at $9.15 on Wednesday. CleanSpark, Inc. has a fifty-two week low of $3.38 and a fifty-two week high of $24.72. The stock has a 50-day simple moving average of $12.83 and a two-hundred day simple moving average of $15.69.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings data on Friday, August 9th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). The company had revenue of $104.11 million for the quarter, compared to analysts’ expectations of $114.04 million. CleanSpark had a negative net margin of 46.31% and a negative return on equity of 3.64%. On average, research analysts anticipate that CleanSpark, Inc. will post -0.06 earnings per share for the current year.

Insider Buying and Selling at CleanSpark

In other news, Director Thomas Leigh Wood sold 22,222 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $9.24, for a total transaction of $205,331.28. Following the sale, the director now owns 137,050 shares of the company’s stock, valued at $1,266,342. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 26,272 shares of company stock worth $264,421 over the last quarter. 3.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of CleanSpark in a report on Wednesday, September 11th. JPMorgan Chase & Co. cut their price objective on CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a research report on Friday, August 23rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.97.

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.