Archford Capital Strategies LLC Acquires New Position in CleanSpark, Inc. (NASDAQ:CLSK)

Archford Capital Strategies LLC purchased a new position in CleanSpark, Inc. (NASDAQ:CLSK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,000 shares of the company’s stock, valued at approximately $184,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CLSK. Hollencrest Capital Management raised its holdings in shares of CleanSpark by 33.3% during the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $37,000 after acquiring an additional 1,000 shares in the last quarter. FMR LLC raised its holdings in shares of CleanSpark by 5.0% during the 3rd quarter. FMR LLC now owns 24,729 shares of the company’s stock worth $231,000 after acquiring an additional 1,170 shares in the last quarter. Amalgamated Bank raised its holdings in shares of CleanSpark by 18.4% during the 2nd quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock worth $122,000 after acquiring an additional 1,194 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of CleanSpark by 21.2% during the 3rd 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. Finally, Victory Capital Management Inc. raised its holdings in CleanSpark by 2.6% during the 3rd quarter. Victory Capital Management Inc. now owns 67,981 shares of the company’s stock valued at $635,000 after buying an additional 1,709 shares during the period. 43.12% of the stock is currently owned by institutional investors.

CleanSpark Price Performance

Shares of NASDAQ:CLSK opened at $11.53 on Monday. The business’s 50 day moving average price is $11.95 and its 200-day moving average price is $12.00. The firm has a market capitalization of $3.37 billion, a PE ratio of -19.88 and a beta of 4.26. CleanSpark, Inc. has a 1 year low of $6.95 and a 1 year high of $24.72.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings data on Monday, December 2nd. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates 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, analysts expect that CleanSpark, Inc. will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CLSK. JPMorgan Chase & Co. upgraded CleanSpark from a “neutral” rating to an “overweight” rating and increased their price target for the company from $10.50 to $17.00 in a report on Tuesday, December 10th. Macquarie increased their price target on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a research report on Tuesday, December 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 price objective on shares of CleanSpark in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $23.17.

CleanSpark 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.