CleanSpark, Inc. (NASDAQ:CLSK) CEO Sells $112,071.12 in Stock

CleanSpark, Inc. (NASDAQ:CLSK) CEO Zachary Bradford sold 10,533 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $10.64, for a total value of $112,071.12. Following the transaction, the chief executive officer now owns 3,059,326 shares of the company’s stock, valued at approximately $32,551,228.64. This represents a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

CleanSpark Stock Down 1.6 %

NASDAQ CLSK opened at $10.50 on Friday. CleanSpark, Inc. has a 52 week low of $8.04 and a 52 week high of $24.72. The firm has a 50 day moving average of $10.89 and a two-hundred day moving average of $11.35. The stock has a market capitalization of $2.95 billion, a PE ratio of 95.46 and a beta of 4.24.

CleanSpark (NASDAQ:CLSK) last issued its earnings results on Thursday, February 6th. The company reported ($0.07) EPS for the quarter, topping 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%. On average, equities research analysts expect that CleanSpark, Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. acquired a new stake in shares of CleanSpark during the 4th quarter worth about $39,940,000. Price T Rowe Associates Inc. MD increased its stake in CleanSpark by 1,018.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,687,022 shares of the company’s stock valued at $15,538,000 after purchasing an additional 1,536,145 shares during the last quarter. Jump Financial LLC acquired a new stake in CleanSpark during the fourth quarter worth approximately $13,443,000. Shaolin Capital Management LLC purchased a new stake in shares of CleanSpark during the 4th quarter worth approximately $8,559,000. Finally, Invesco Ltd. boosted its holdings in shares of CleanSpark by 44.2% in the 4th quarter. Invesco Ltd. now owns 2,984,362 shares of the company’s stock valued at $27,486,000 after buying an additional 914,279 shares in the last quarter. 43.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.