CAP Partners LLC Decreases Stake in CleanSpark, Inc. (NASDAQ:CLSK)

CAP Partners LLC cut its stake in CleanSpark, Inc. (NASDAQ:CLSK) by 71.1% in the fourth quarter, Holdings Channel reports. The firm owned 14,284 shares of the company’s stock after selling 35,127 shares during the period. CAP Partners LLC’s holdings in CleanSpark were worth $132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of CLSK. Hollencrest Capital Management lifted its stake in shares of CleanSpark by 33.3% during the third quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $37,000 after buying an additional 1,000 shares during the period. FMR LLC increased its holdings in shares of CleanSpark by 5.0% in the third quarter. FMR LLC now owns 24,729 shares of the company’s stock valued at $231,000 after purchasing an additional 1,170 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of CleanSpark by 21.2% in the third 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 during the period. Victory Capital Management Inc. lifted its holdings in shares of CleanSpark by 2.6% during the third quarter. Victory Capital Management Inc. now owns 67,981 shares of the company’s stock worth $635,000 after purchasing an additional 1,709 shares during the period. Finally, KBC Group NV boosted its position in CleanSpark by 42.0% in the third 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 during the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

CleanSpark Trading Down 1.3 %

Shares of CleanSpark stock opened at $11.18 on Tuesday. CleanSpark, Inc. has a twelve month low of $8.04 and a twelve month high of $24.72. The firm has a market capitalization of $3.14 billion, a PE ratio of 101.65 and a beta of 4.24. The firm’s 50-day moving average price is $11.27 and its 200 day moving average price is $11.51.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.81%. On average, sell-side analysts predict that CleanSpark, Inc. will post 0.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on CLSK shares. JPMorgan Chase & Co. upgraded shares of CleanSpark from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $10.50 to $17.00 in a research note on Tuesday, December 10th. Macquarie increased their price target on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods started coverage on CleanSpark in a report on Monday, January 27th. They set an “outperform” rating and a $19.00 target price on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a report on Friday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $22.57.

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.