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

Avaii Wealth Management LLC reduced its stake in CleanSpark, Inc. (NASDAQ:CLSK) by 11.8% during the 4th quarter, Holdings Channel reports. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CLSK. GAMMA Investing LLC increased its stake in shares of CleanSpark by 962.1% during the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock worth $36,000 after purchasing an additional 3,579 shares during the period. Hollencrest Capital Management grew its stake in shares of CleanSpark by 33.3% in the third quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $37,000 after acquiring an additional 1,000 shares in the last quarter. KBC Group NV increased its position in CleanSpark by 42.0% during the third quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $69,000 after acquiring an additional 2,190 shares during the period. DekaBank Deutsche Girozentrale raised its stake in CleanSpark by 21.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after purchasing an additional 1,345 shares in the last quarter. Finally, Doliver Advisors LP bought a new stake in CleanSpark in the 3rd quarter valued at about $117,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

CleanSpark Stock Up 1.1 %

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

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings data on Monday, December 2nd. The company reported ($0.27) earnings per share 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%. As a group, analysts forecast that CleanSpark, Inc. will post 0.18 earnings per share for the current year.

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.