Kovitz Investment Group Partners LLC Raises Stock Position in CleanSpark, Inc. (NASDAQ:CLSK)

Kovitz Investment Group Partners LLC increased its stake in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 26.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 233,029 shares of the company's stock after acquiring an additional 48,079 shares during the period. Kovitz Investment Group Partners LLC owned approximately 0.08% of CleanSpark worth $2,146,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of CleanSpark by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 19,655,746 shares of the company's stock worth $181,029,000 after purchasing an additional 495,367 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of CleanSpark by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 6,517,268 shares of the company's stock worth $60,037,000 after acquiring an additional 353,807 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of CleanSpark during the 4th quarter worth about $39,940,000. Invesco Ltd. increased its holdings in shares of CleanSpark by 44.2% in the 4th quarter. Invesco Ltd. now owns 2,984,362 shares of the company's stock valued at $27,486,000 after acquiring an additional 914,279 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of CleanSpark by 12.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,464,861 shares of the company's stock worth $22,701,000 after acquiring an additional 270,026 shares in the last quarter. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Needham & Company LLC assumed coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They issued a "buy" rating and a $20.00 price target on the stock. HC Wainwright reiterated a "buy" rating and set a $27.00 price target on shares of CleanSpark in a research note on Friday, February 7th. Keefe, Bruyette & Woods initiated coverage on shares of CleanSpark in a research note on Monday, January 27th. They issued an "outperform" rating and a $19.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Chardan Capital raised CleanSpark to a "strong-buy" rating in a report on Tuesday, April 29th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $21.57.

CleanSpark Price Performance

Shares of NASDAQ:CLSK traded up $0.14 on Friday, reaching $8.81. The company's stock had a trading volume of 22,474,773 shares, compared to its average volume of 28,293,642. CleanSpark, Inc. has a 52-week low of $6.45 and a 52-week high of $20.64. The stock's 50-day moving average is $7.90 and its two-hundred day moving average is $10.40. The stock has a market capitalization of $2.47 billion, a P/E ratio of 80.10 and a beta of 4.36.

CleanSpark (NASDAQ:CLSK - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. Equities analysts forecast that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman S. Matthew Schultz sold 9,010 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $95,866.40. Following the completion of the sale, the chairman now owns 2,450,010 shares in the company, valued at $26,068,106.40. This trade represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amanda Cavaleri sold 13,000 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $7.97, for a total value of $103,610.00. Following the transaction, the director now owns 140,289 shares in the company, valued at $1,118,103.33. The trade was a 8.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,836 shares of company stock valued at $335,945 over the last three months. 2.65% of the stock is currently owned by company insiders.

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.