CleanSpark, Inc. (NASDAQ:CLSK) Director Amanda Cavaleri Sells 13,000 Shares

CleanSpark, Inc. (NASDAQ:CLSK) Director Amanda Cavaleri sold 13,000 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $7.97, for a total transaction of $103,610.00. Following the transaction, the director now directly owns 140,289 shares of the company’s stock, valued at $1,118,103.33. The trade was a 8.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

CleanSpark Stock Performance

CLSK opened at $8.73 on Wednesday. The stock’s 50 day moving average price is $9.55 and its 200-day moving average price is $10.77. CleanSpark, Inc. has a one year low of $7.22 and a one year high of $24.72. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 79.37 and a beta of 4.20.

CleanSpark (NASDAQ:CLSK) last released its earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. As a group, analysts predict that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Compagnie Lombard Odier SCmA bought a new position in CleanSpark in the 4th quarter worth about $31,000. GAMMA Investing LLC boosted its holdings in shares of CleanSpark by 962.1% in the fourth 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 during the period. Russell Investments Group Ltd. grew its stake in CleanSpark by 60.0% in the fourth 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. KBC Group NV increased its holdings in CleanSpark by 42.0% during the 3rd quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $69,000 after purchasing an additional 2,190 shares during the period. Finally, R Squared Ltd bought a new stake in CleanSpark during the 4th quarter valued at $101,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Keefe, Bruyette & Woods began coverage on shares of CleanSpark in a report on Monday, January 27th. They issued an “outperform” rating and a $19.00 price target for the company. Macquarie upped their price objective on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Needham & Company LLC assumed coverage on CleanSpark in a report on Wednesday, February 12th. They issued a “buy” rating and a $20.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a research report on Friday, February 7th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $21.57.

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.