Tobam Purchases 14,631 Shares of Cleanspark, Inc. $CLSK

Tobam lifted its position in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 39.8% during the second quarter, Holdings Channel.com reports. The firm owned 51,426 shares of the company’s stock after buying an additional 14,631 shares during the quarter. Tobam’s holdings in Cleanspark were worth $567,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Beck Bode LLC bought a new stake in Cleanspark in the 2nd quarter valued at $209,000. CSM Advisors LLC bought a new position in Cleanspark during the 2nd quarter worth $3,647,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Cleanspark by 16.1% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 24,965 shares of the company’s stock valued at $275,000 after acquiring an additional 3,465 shares in the last quarter. Prospera Financial Services Inc bought a new position in Cleanspark during the second quarter worth about $153,000. Finally, Fox Run Management L.L.C. acquired a new stake in Cleanspark in the 2nd quarter worth about $151,000. 43.12% of the stock is owned by institutional investors and hedge funds.

Cleanspark Price Performance

CLSK opened at $14.05 on Wednesday. The company’s 50 day moving average price is $15.53 and its two-hundred day moving average price is $12.08. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 16.53 and a beta of 3.79. Cleanspark, Inc. has a fifty-two week low of $6.45 and a fifty-two week high of $23.61.

Insider Buying and Selling at Cleanspark

In other news, COO Taylor Monnig sold 63,713 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $9.12, for a total transaction of $581,062.56. Following the completion of the transaction, the chief operating officer directly owned 120,337 shares in the company, valued at $1,097,473.44. This trade represents a 34.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Cleanspark in a research report on Wednesday, October 8th. Wall Street Zen upgraded Cleanspark from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $14.00 price target (down previously from $15.00) on shares of Cleanspark in a research report on Friday, September 26th. Needham & Company LLC lifted their price objective on Cleanspark from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, October 10th. Finally, Chardan Capital upped their target price on Cleanspark from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cleanspark presently has an average rating of “Moderate Buy” and an average target price of $24.02.

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.