CleanSpark, Inc. (NASDAQ:CLSK) CTO Sells $21,640.50 in Stock

CleanSpark, Inc. (NASDAQ:CLSK) CTO Taylor Monnig sold 1,350 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $16.03, for a total transaction of $21,640.50. Following the completion of the sale, the chief technology officer now owns 213,702 shares of the company’s stock, valued at approximately $3,425,643.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Taylor Monnig also recently made the following trade(s):

• On Friday, May 31st, Taylor Monnig sold 1,350 shares of CleanSpark stock. The stock was sold at an average price of $16.65, for a total transaction of $22,477.50.

CleanSpark Stock Performance

CLSK opened at $15.95 on Monday. The business has a 50 day moving average price of $17.18 and a 200 day moving average price of $15.07. CleanSpark, Inc. has a twelve month low of $3.38 and a twelve month high of $24.72.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. The company had revenue of $111.80 million for the quarter, compared to analyst estimates of $111.11 million. CleanSpark had a net margin of 22.41% and a negative return on equity of 6.30%. On average, research analysts expect that CleanSpark, Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CLSK. DekaBank Deutsche Girozentrale acquired a new stake in shares of CleanSpark in the third quarter valued at about $30,000. American Capital Advisory LLC acquired a new position in shares of CleanSpark during the 1st quarter worth about $32,000. VitalStone Financial LLC boosted its stake in CleanSpark by 952.7% during the 3rd quarter. VitalStone Financial LLC now owns 8,895 shares of the company’s stock valued at $33,000 after purchasing an additional 8,050 shares during the period. Tucker Asset Management LLC acquired a new stake in CleanSpark in the 3rd quarter valued at approximately $38,000. Finally, Scotia Capital Inc. bought a new position in CleanSpark in the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CLSK. Chardan Capital restated a “buy” rating and issued a $26.00 target price on shares of CleanSpark in a research note on Monday, May 13th. BTIG Research boosted their price target on CleanSpark from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a research report on Friday. Cantor Fitzgerald raised shares of CleanSpark to a “strong-buy” rating in a research report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. cut their price target on shares of CleanSpark from $15.00 to $12.50 and set a “neutral” rating on the stock in a report on Tuesday, June 4th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $19.97.

CleanSpark Company 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.