Avaii Wealth Management LLC Has $378,000 Holdings in CleanSpark, Inc. (NASDAQ:CLSK)

Avaii Wealth Management LLC lessened its position in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 11.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,070 shares of the company’s stock after selling 5,495 shares during the period. Avaii Wealth Management LLC’s holdings in CleanSpark were worth $378,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CLSK. Amalgamated Bank grew its holdings 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 buying an additional 1,194 shares in the last quarter. Sei Investments Co. boosted its position in CleanSpark by 7.0% during the 2nd quarter. Sei Investments Co. now owns 30,344 shares of the company’s stock worth $484,000 after acquiring an additional 1,987 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of CleanSpark by 311.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 86,718 shares of the company’s stock worth $1,383,000 after acquiring an additional 65,644 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in shares of CleanSpark by 5.2% in the second quarter. Ensign Peak Advisors Inc now owns 71,847 shares of the company’s stock valued at $1,146,000 after purchasing an additional 3,550 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of CleanSpark by 15.4% in the second quarter. Bank of Montreal Can now owns 104,074 shares of the company’s stock valued at $1,731,000 after purchasing an additional 13,868 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

Wall Street Analyst Weigh In

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

CleanSpark Stock Up 1.1 %

Shares of CLSK stock opened at $11.53 on Friday. CleanSpark, Inc. has a 52-week low of $6.95 and a 52-week high of $24.72. The firm’s 50-day moving average is $11.95 and its 200-day moving average is $12.02.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings data on Monday, December 2nd. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.02). CleanSpark had a negative net margin of 38.47% and a negative return on equity of 2.36%. Sell-side analysts forecast that CleanSpark, Inc. will post 0.18 earnings per share for the current fiscal year.

CleanSpark 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.