Hennion & Walsh Asset Management Inc. Acquires 25,444 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Hennion & Walsh Asset Management Inc. boosted its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 121.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,323 shares of the company's stock after purchasing an additional 25,444 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in CleanSpark were worth $427,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC lifted its position in shares of CleanSpark by 962.1% in the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock valued at $36,000 after acquiring an additional 3,579 shares in the last quarter. Hollencrest Capital Management boosted its stake in CleanSpark by 33.3% in the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock worth $37,000 after purchasing an additional 1,000 shares during the period. KBC Group NV grew its holdings in CleanSpark by 42.0% during the 3rd quarter. KBC Group NV now owns 7,403 shares of the company's stock valued at $69,000 after buying an additional 2,190 shares in the last quarter. Amalgamated Bank grew its holdings in CleanSpark by 18.4% during the 2nd quarter. Amalgamated Bank now owns 7,667 shares of the company's stock valued at $122,000 after buying an additional 1,194 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of CleanSpark by 21.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company's stock valued at $75,000 after buying an additional 1,345 shares during the last quarter. Institutional investors own 43.12% of the company's stock.

Wall Street Analysts Forecast Growth

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

CleanSpark Stock Performance

CLSK stock traded down $0.80 during midday trading on Tuesday, reaching $11.07. The company's stock had a trading volume of 28,428,165 shares, compared to its average volume of 23,644,439. CleanSpark, Inc. has a 1 year low of $6.59 and a 1 year high of $24.72. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of -19.11 and a beta of 4.26. The stock has a fifty day simple moving average of $12.26 and a two-hundred day simple moving average of $12.12.

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.