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

Tobam increased its stake in Cleanspark, Inc. (NASDAQ:CLSK) by 39.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 51,426 shares of the company’s stock after purchasing an additional 14,631 shares during the quarter. Tobam’s holdings in Cleanspark were worth $567,000 at the end of the most recent reporting period.

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

Insider Activity

In related news, COO Taylor Monnig sold 63,713 shares of Cleanspark 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 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CLSK shares. Needham & Company LLC lifted their target price on Cleanspark from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cleanspark in a research report on Wednesday, October 8th. BTIG Research boosted their price objective on Cleanspark from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Sanford C. Bernstein increased their price objective on shares of Cleanspark from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Finally, Chardan Capital raised their target price on Cleanspark from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.02.

Cleanspark Stock Down 6.5%

Shares of Cleanspark stock opened at $14.05 on Wednesday. Cleanspark, Inc. has a 12-month low of $6.45 and a 12-month high of $23.61. The business’s 50 day moving average is $15.53 and its 200-day moving average is $12.08. The stock has a market cap of $4.19 billion, a P/E ratio of 16.53 and a beta of 3.79.

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.