Kovitz Investment Group Partners LLC Buys 85,388 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Kovitz Investment Group Partners LLC boosted its position in CleanSpark, Inc. (NASDAQ:CLSK) by 85.8% in the third quarter, HoldingsChannel.com reports. The firm owned 184,950 shares of the company’s stock after acquiring an additional 85,388 shares during the period. Kovitz Investment Group Partners LLC’s holdings in CleanSpark were worth $1,727,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Hollencrest Capital Management grew its position in shares of 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 buying an additional 1,000 shares during the last quarter. SteelPeak Wealth LLC grew its holdings in CleanSpark by 3.0% in the second quarter. SteelPeak Wealth LLC now owns 36,907 shares of the company’s stock worth $589,000 after purchasing an additional 1,066 shares during the last quarter. FMR LLC increased its position in shares of CleanSpark by 5.0% during the third quarter. FMR LLC now owns 24,729 shares of the company’s stock worth $231,000 after purchasing an additional 1,170 shares in the last quarter. Amalgamated Bank increased its position in shares of CleanSpark by 18.4% during the second quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock worth $122,000 after purchasing an additional 1,194 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of CleanSpark by 21.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after purchasing an additional 1,345 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

CleanSpark Trading Down 4.6 %

Shares of NASDAQ:CLSK opened at $12.94 on Wednesday. CleanSpark, Inc. has a twelve month low of $6.41 and a twelve month high of $24.72. The company has a market cap of $3.79 billion, a PE ratio of -22.31 and a beta of 4.16. The company’s 50 day moving average is $12.51 and its 200 day moving average is $13.37.

Insider Activity

In related news, Director Thomas Leigh Wood sold 22,222 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total transaction of $205,331.28. Following the completion of the transaction, the director now directly owns 137,050 shares in the company, valued at $1,266,342. The trade was a 13.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 26,272 shares of company stock valued at $254,836 in the last ninety days. Insiders own 2.99% of the company’s stock.

About CleanSpark

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.