Susquehanna Fundamental Investments LLC Acquires New Stake in CleanSpark, Inc. (NASDAQ:CLSK)

Susquehanna Fundamental Investments LLC bought a new stake in CleanSpark, Inc. (NASDAQ:CLSK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,500 shares of the company’s stock, valued at approximately $115,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. bought a new position in shares of CleanSpark in the 4th quarter worth approximately $39,940,000. Price T Rowe Associates Inc. MD boosted its stake in shares of CleanSpark by 1,018.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,687,022 shares of the company’s stock worth $15,538,000 after acquiring an additional 1,536,145 shares during the last quarter. Jump Financial LLC bought a new stake in shares of CleanSpark during the 4th quarter valued at $13,443,000. Invesco Ltd. increased its stake in shares of CleanSpark by 44.2% in the 4th quarter. Invesco Ltd. now owns 2,984,362 shares of the company’s stock worth $27,486,000 after purchasing an additional 914,279 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in CleanSpark by 40.0% in the 4th quarter. Van ECK Associates Corp now owns 2,227,199 shares of the company’s stock worth $20,513,000 after purchasing an additional 636,511 shares during the period. 43.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CleanSpark

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

CleanSpark Stock Performance

Shares of NASDAQ:CLSK opened at $8.09 on Tuesday. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 73.55 and a beta of 4.36. The firm has a fifty day moving average price of $7.90 and a 200 day moving average price of $10.37. CleanSpark, Inc. has a fifty-two week low of $6.45 and a fifty-two week high of $20.64.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on CLSK shares. Needham & Company LLC began coverage on CleanSpark in a report on Wednesday, February 12th. They set a “buy” rating and a $20.00 price target for the company. Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a report on Monday, January 27th. They issued an “outperform” rating and a $19.00 target price for the company. Chardan Capital raised shares of CleanSpark to a “strong-buy” rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. reduced their price objective 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. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a report on Friday, February 7th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CleanSpark presently has an average rating of “Buy” and a consensus target price of $21.57.

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.