Centiva Capital LP Sells 178,212 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Centiva Capital LP lowered its stake in CleanSpark, Inc. (NASDAQ:CLSK) by 85.8% in the fourth quarter, Holdings Channel reports. The fund owned 29,513 shares of the company’s stock after selling 178,212 shares during the quarter. Centiva Capital LP’s holdings in CleanSpark were worth $272,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Compagnie Lombard Odier SCmA acquired a new position in shares of CleanSpark in the fourth quarter valued at approximately $31,000. GAMMA Investing LLC increased its stake 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 buying an additional 3,579 shares during the period. Russell Investments Group Ltd. increased its stake in shares of CleanSpark by 60.0% in the fourth quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company’s stock valued at $54,000 after buying an additional 2,196 shares during the period. KBC Group NV increased its stake in shares of CleanSpark by 36.5% in the fourth quarter. KBC Group NV now owns 10,103 shares of the company’s stock valued at $93,000 after buying an additional 2,700 shares during the period. Finally, R Squared Ltd acquired a new position in shares of CleanSpark in the fourth quarter valued at approximately $101,000. Institutional investors own 43.12% of the company’s stock.

CleanSpark Stock Performance

CleanSpark stock opened at $9.62 on Tuesday. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 87.46 and a beta of 4.36. CleanSpark, Inc. has a 52-week low of $6.45 and a 52-week high of $20.64. The stock’s 50 day moving average price is $7.98 and its two-hundred day moving average price is $10.25.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). The business had revenue of $181.71 million for the quarter, compared to the consensus estimate of $196.43 million. CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. CleanSpark’s quarterly revenue was up 62.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 earnings per share. On average, equities research analysts forecast that CleanSpark, Inc. will post 0.58 EPS for the current year.

Insider Buying and Selling

In related news, CEO Zachary Bradford sold 10,533 shares of the 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 directly owns 3,059,326 shares in the company, valued at $32,551,228.64. This trade represents a 0.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amanda Cavaleri sold 13,000 shares of the stock in a transaction on Monday, March 24th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,836 shares of company stock worth $335,945 in the last ninety days. Corporate insiders own 2.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Needham & Company LLC assumed coverage on CleanSpark in a research note on Wednesday, February 12th. They issued a “buy” rating and a $20.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research report on Friday, February 7th. Chardan Capital raised shares of CleanSpark to a “strong-buy” rating in a research report on Tuesday, April 29th. 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 report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a research report on Monday, January 27th. They set an “outperform” rating and a $19.00 target price for the company. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CleanSpark has a consensus rating of “Buy” and a consensus target price of $21.57.

CleanSpark 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.