Rhumbline Advisers Increases Stake in Cleanspark, Inc. $CLSK

Rhumbline Advisers increased its stake in Cleanspark, Inc. (NASDAQ:CLSK) by 8.4% in the second quarter, Holdings Channel reports. The firm owned 781,115 shares of the company’s stock after purchasing an additional 60,212 shares during the period. Rhumbline Advisers’ holdings in Cleanspark were worth $8,616,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Cleanspark in the 1st quarter valued at $8,109,000. Public Sector Pension Investment Board purchased a new stake in Cleanspark during the 1st quarter valued at about $5,925,000. Swiss National Bank grew its stake in Cleanspark by 13.8% during the 1st quarter. Swiss National Bank now owns 566,800 shares of the company’s stock valued at $3,809,000 after purchasing an additional 68,900 shares during the last quarter. Mutual of America Capital Management LLC acquired a new position in shares of Cleanspark in the first quarter valued at about $272,000. Finally, Vanguard Group Inc. raised its stake in shares of Cleanspark by 22.8% in the first quarter. Vanguard Group Inc. now owns 24,145,612 shares of the company’s stock worth $162,259,000 after purchasing an additional 4,489,866 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

Cleanspark Price Performance

Shares of NASDAQ CLSK opened at $14.08 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.18 and a quick ratio of 4.18. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 12.68 and a beta of 3.79. The firm’s 50 day simple moving average is $15.85 and its 200-day simple moving average is $12.39. Cleanspark, Inc. has a 12 month low of $6.45 and a 12 month high of $23.61.

Insider Buying and Selling

In related news, COO Taylor Monnig sold 63,713 shares of the firm’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $9.12, for a total transaction of $581,062.56. Following the sale, the chief operating officer owned 120,337 shares in the company, valued at approximately $1,097,473.44. This trade represents a 34.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.65% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wall Street Zen lowered Cleanspark from a “hold” rating to a “sell” rating in a research report on Friday. HC Wainwright decreased their price objective on shares of Cleanspark from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. BTIG Research increased their price objective on shares of Cleanspark from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Needham & Company LLC raised their target price on shares of Cleanspark from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Finally, Sanford C. Bernstein upped their price target on shares of Cleanspark from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.20.

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.