Insider Selling: CleanSpark, Inc. (NASDAQ:CLSK) Chairman Sells 9,010 Shares of Stock

CleanSpark, Inc. (NASDAQ:CLSK) Chairman S. Matthew Schultz sold 9,010 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $10.64, for a total value of $95,866.40. Following the sale, the chairman now owns 2,450,010 shares of the company’s stock, valued at approximately $26,068,106.40. This represents a 0.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

CleanSpark Stock Down 1.6 %

CLSK stock opened at $10.50 on Friday. The company’s 50-day moving average price is $10.89 and its two-hundred day moving average price is $11.35. The firm has a market cap of $2.95 billion, a P/E ratio of 95.46 and a beta of 4.24. CleanSpark, Inc. has a 12 month low of $8.04 and a 12 month high of $24.72.

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, beating analysts’ consensus estimates of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.81%. Equities analysts predict that CleanSpark, Inc. will post 0.29 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Needham & Company LLC started coverage on CleanSpark in a research note on Wednesday. They issued a “buy” rating and a $20.00 price target for the company. Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a research report on Monday, January 27th. They issued an “outperform” rating and a $19.00 target price for the company. JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $10.50 to $17.00 in a research report on Tuesday, December 10th. Macquarie boosted their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of CleanSpark in a report on Friday, February 7th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, CleanSpark has an average rating of “Buy” and an average target price of $22.25.

Hedge Funds Weigh In On CleanSpark

A number of institutional investors have recently modified their holdings of CLSK. Compagnie Lombard Odier SCmA acquired a new stake in CleanSpark in the fourth quarter valued at about $31,000. GAMMA Investing LLC boosted 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 purchasing an additional 3,579 shares in the last quarter. Hollencrest Capital Management grew its holdings in shares of 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. Russell Investments Group Ltd. increased its position in CleanSpark by 60.0% during the 4th quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company’s stock worth $54,000 after purchasing an additional 2,196 shares in the last quarter. Finally, KBC Group NV boosted its position in CleanSpark by 42.0% in the third quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $69,000 after buying an additional 2,190 shares in the last quarter. Institutional investors and hedge funds own 43.12% 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.