Quantbot Technologies LP Invests $1.96 Million in CleanSpark, Inc. (NASDAQ:CLSK)

Quantbot Technologies LP bought a new stake in CleanSpark, Inc. (NASDAQ:CLSK) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 209,834 shares of the company’s stock, valued at approximately $1,960,000. Quantbot Technologies LP owned 0.08% of CleanSpark at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hollencrest Capital Management grew its stake in CleanSpark by 33.3% during the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares during the last quarter. National Bank of Canada FI increased its holdings in CleanSpark by 470.9% in the 2nd quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock worth $41,000 after buying an additional 2,119 shares during the period. Russell Investments Group Ltd. raised its position in CleanSpark by 36.8% during the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after buying an additional 787 shares during the last quarter. KBC Group NV lifted its stake in CleanSpark by 42.0% during the 3rd quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $69,000 after acquiring an additional 2,190 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of CleanSpark by 21.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock valued at $75,000 after acquiring an additional 1,345 shares during the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Insider Activity

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total transaction of $205,331.28. Following the completion of the transaction, the director now directly owns 137,050 shares in the company, valued at approximately $1,266,342. This represents a 13.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 24,922 shares of company stock worth $235,463 in the last quarter. Corporate insiders own 2.99% of the company’s stock.

CleanSpark Trading Up 6.4 %

Shares of CLSK stock opened at $13.86 on Friday. CleanSpark, Inc. has a 12-month low of $5.71 and a 12-month high of $24.72. The business’s 50 day moving average is $11.76 and its two-hundred day moving average is $13.59.

Wall Street Analyst Weigh In

CLSK has been the subject of a number of research reports. Macquarie initiated coverage on shares of CleanSpark in a research report on Wednesday, September 25th. They set an “outperform” rating and a $20.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a report on Thursday, October 3rd. JPMorgan Chase & Co. dropped their target price on CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a report on Friday, August 23rd. Finally, HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a report on Wednesday, September 25th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.42.

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.