Royal Fund Management LLC Acquires New Stake in CleanSpark, Inc. (NASDAQ:CLSK)

Royal Fund Management LLC bought a new position in CleanSpark, Inc. (NASDAQ:CLSK) during the fourth quarter, HoldingsChannel.com reports. The fund bought 16,000 shares of the company’s stock, valued at approximately $147,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in CleanSpark by 962.1% in 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 position 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 acquiring an additional 1,000 shares during the period. KBC Group NV raised its stake in shares of CleanSpark by 42.0% during the third quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $69,000 after acquiring an additional 2,190 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of CleanSpark by 21.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock valued at $75,000 after acquiring an additional 1,345 shares in the last quarter. Finally, Doliver Advisors LP purchased a new stake in shares of CleanSpark in the third quarter valued at approximately $117,000. 43.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

CleanSpark Price Performance

Shares of CLSK stock opened at $10.96 on Wednesday. The company has a market cap of $3.21 billion, a P/E ratio of -18.90 and a beta of 4.26. The stock’s 50-day moving average is $12.26 and its 200 day moving average is $12.12. CleanSpark, Inc. has a 1-year low of $6.59 and a 1-year high of $24.72.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings data on Monday, December 2nd. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). CleanSpark had a negative return on equity of 2.36% and a negative net margin of 38.47%. On average, analysts anticipate that CleanSpark, Inc. will post 0.18 EPS for the current 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.