SteelPeak Wealth LLC Has $760,000 Position in CleanSpark, Inc. (NASDAQ:CLSK)

SteelPeak Wealth LLC reduced its stake in CleanSpark, Inc. (NASDAQ:CLSK) by 23.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 35,841 shares of the company’s stock after selling 11,255 shares during the quarter. SteelPeak Wealth LLC’s holdings in CleanSpark were worth $760,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Scotia Capital Inc. lifted its holdings in CleanSpark by 14.5% in the 4th quarter. Scotia Capital Inc. now owns 11,810 shares of the company’s stock worth $130,000 after purchasing an additional 1,500 shares during the last quarter. VitalStone Financial LLC lifted its holdings in CleanSpark by 21.7% in the 4th quarter. VitalStone Financial LLC now owns 10,825 shares of the company’s stock worth $119,000 after purchasing an additional 1,930 shares during the last quarter. Amalgamated Bank lifted its holdings in CleanSpark by 25.4% in the 4th quarter. Amalgamated Bank now owns 13,197 shares of the company’s stock worth $146,000 after purchasing an additional 2,671 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of CleanSpark by 100.0% during the fourth quarter. Signaturefd LLC now owns 9,000 shares of the company’s stock worth $99,000 after buying an additional 4,500 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of CleanSpark during the first quarter worth approximately $109,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CLSK shares. Cantor Fitzgerald upgraded CleanSpark to a “strong-buy” rating in a report on Wednesday, June 12th. Chardan Capital reiterated a “buy” rating and set a $26.00 price target on shares of CleanSpark in a report on Monday, May 13th. JPMorgan Chase & Co. cut their price target on CleanSpark from $15.00 to $12.50 and set a “neutral” rating for the company in a report on Tuesday, June 4th. BTIG Research upped their price target on CleanSpark from $12.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of CleanSpark in a report on Friday. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $19.97.

CleanSpark Stock Performance

Shares of CLSK traded down $0.10 on Friday, reaching $15.95. 35,723,521 shares of the stock traded hands, compared to its average volume of 29,495,168. CleanSpark, Inc. has a 12 month low of $3.38 and a 12 month high of $24.72. The stock’s 50-day moving average price is $17.18 and its 200-day moving average price is $15.07.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. The business had revenue of $111.80 million for the quarter, compared to analysts’ expectations of $111.11 million. CleanSpark had a negative return on equity of 6.30% and a net margin of 22.41%. Sell-side analysts forecast that CleanSpark, Inc. will post -0.09 EPS for the current year.

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.