Centric Wealth Management Cuts Position in CleanSpark, Inc. (NASDAQ:CLSK)

Centric Wealth Management reduced its position in CleanSpark, Inc. (NASDAQ:CLSK) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,000 shares of the company’s stock after selling 10,000 shares during the period. Centric Wealth Management’s holdings in CleanSpark were worth $92,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Compagnie Lombard Odier SCmA acquired a new position in CleanSpark during the fourth quarter valued at approximately $31,000. GAMMA Investing LLC raised its stake in shares of CleanSpark by 962.1% in the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock valued at $36,000 after acquiring an additional 3,579 shares during the period. KBC Group NV lifted its holdings in shares of CleanSpark by 36.5% during the 4th quarter. KBC Group NV now owns 10,103 shares of the company’s stock valued at $93,000 after acquiring an additional 2,700 shares in the last quarter. R Squared Ltd acquired a new position in shares of CleanSpark during the 4th quarter valued at $101,000. Finally, Haven Private LLC purchased a new stake in CleanSpark during the 4th quarter worth $108,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of CleanSpark in a report on Friday, February 7th. Keefe, Bruyette & Woods assumed coverage on shares of CleanSpark in a research note on Monday, January 27th. They set an “outperform” rating and a $19.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Chardan Capital raised shares of CleanSpark to a “strong-buy” rating in a research note on Monday, March 24th. Finally, Macquarie boosted their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, CleanSpark has a consensus rating of “Buy” and a consensus price target of $21.57.

CleanSpark Stock Performance

Shares of CleanSpark stock opened at $6.72 on Tuesday. CleanSpark, Inc. has a 1 year low of $6.59 and a 1 year high of $21.39. The firm’s 50-day simple moving average is $9.22 and its 200-day simple moving average is $10.72. The firm has a market cap of $1.89 billion, a PE ratio of 61.10 and a beta of 4.20.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. On average, equities analysts predict that CleanSpark, Inc. will post 0.58 earnings per share for the current year.

Insider Buying and Selling

In other CleanSpark news, Director Amanda Cavaleri sold 13,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $7.97, for a total value of $103,610.00. Following the completion of the transaction, the director now owns 140,289 shares in the company, valued at approximately $1,118,103.33. This represents a 8.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Zachary Bradford sold 10,533 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $10.64, for a total transaction of $112,071.12. Following the completion of the sale, the chief executive officer now owns 3,059,326 shares in the company, valued at $32,551,228.64. The trade was a 0.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,836 shares of company stock valued at $335,945 in the last quarter. Company insiders own 2.65% of the company’s stock.

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.