Los Angeles Capital Management LLC Lowers Stock Position in Cleanspark, Inc. $CLSK

Los Angeles Capital Management LLC lessened its holdings in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 51.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,859 shares of the company’s stock after selling 81,133 shares during the period. Los Angeles Capital Management LLC’s holdings in Cleanspark were worth $859,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Cleanspark during the 2nd quarter valued at about $29,000. Fifth Third Bancorp increased its stake in shares of Cleanspark by 145.3% during the second quarter. Fifth Third Bancorp now owns 2,860 shares of the company’s stock valued at $32,000 after purchasing an additional 1,694 shares in the last quarter. Strs Ohio purchased a new position in shares of Cleanspark during the first quarter valued at approximately $38,000. West Oak Capital LLC boosted its position in shares of Cleanspark by 3,422.5% in the 2nd quarter. West Oak Capital LLC now owns 6,728 shares of the company’s stock worth $74,000 after purchasing an additional 6,537 shares in the last quarter. Finally, Quarry LP purchased a new position in Cleanspark during the first quarter valued at $47,000. 43.12% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cleanspark

In other news, COO Taylor Monnig sold 63,713 shares of Cleanspark stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $9.12, for a total value of $581,062.56. Following the completion of the sale, the chief operating officer directly owned 120,337 shares in the company, valued at $1,097,473.44. The trade was a 34.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.65% of the stock is owned by corporate insiders.

Cleanspark Stock Performance

NASDAQ CLSK opened at $11.98 on Friday. Cleanspark, Inc. has a one year low of $6.45 and a one year high of $23.61. The stock has a 50-day moving average of $15.67 and a 200 day moving average of $12.09. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 14.09 and a beta of 3.79.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CLSK shares. BTIG Research increased their target price on Cleanspark from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Macquarie increased their price objective on shares of Cleanspark from $20.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. LADENBURG THALM/SH SH started coverage on shares of Cleanspark in a report on Monday, July 28th. They issued a “buy” rating and a $20.25 target price for the company. Sanford C. Bernstein upped their target price on shares of Cleanspark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Finally, Chardan Capital increased their price target on shares of Cleanspark from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, October 13th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.02.

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.