Archford Capital Strategies LLC Buys Shares of 20,000 CleanSpark, Inc. (NASDAQ:CLSK)

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

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in CleanSpark by 962.1% during the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock worth $36,000 after buying an additional 3,579 shares during the period. Hollencrest Capital Management increased its stake in shares of CleanSpark by 33.3% in the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $37,000 after acquiring an additional 1,000 shares in the last quarter. KBC Group NV increased its stake 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 purchasing an additional 2,190 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in CleanSpark by 21.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock valued at $75,000 after purchasing an additional 1,345 shares in the last quarter. Finally, Doliver Advisors LP bought a new stake in CleanSpark during the 3rd quarter valued at $117,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

CleanSpark Stock Performance

Shares of NASDAQ:CLSK opened at $11.53 on Monday. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of -19.88 and a beta of 4.26. The stock’s 50-day simple moving average is $11.95 and its two-hundred day simple moving average is $12.00. CleanSpark, Inc. has a 52-week low of $6.95 and a 52-week high of $24.72.

CleanSpark (NASDAQ:CLSK) last announced its earnings results on Monday, December 2nd. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts forecast that CleanSpark, Inc. will post 0.18 earnings per share for the current fiscal year.

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.