Main Management ETF Advisors LLC Sells 4,288 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Main Management ETF Advisors LLC decreased its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 8.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 47,704 shares of the company’s stock after selling 4,288 shares during the period. Main Management ETF Advisors LLC’s holdings in CleanSpark were worth $439,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of CleanSpark by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 19,655,746 shares of the company’s stock worth $181,029,000 after buying an additional 495,367 shares during the period. Geode Capital Management LLC boosted its holdings in shares of CleanSpark by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 6,517,268 shares of the company’s stock worth $60,037,000 after buying an additional 353,807 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of CleanSpark during the 4th quarter worth about $39,940,000. Invesco Ltd. boosted its holdings in shares of CleanSpark by 44.2% during the 4th quarter. Invesco Ltd. now owns 2,984,362 shares of the company’s stock worth $27,486,000 after buying an additional 914,279 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of CleanSpark by 12.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,464,861 shares of the company’s stock worth $22,701,000 after buying an additional 270,026 shares during the period. Institutional investors own 43.12% of the company’s stock.

Insider Activity at CleanSpark

In other CleanSpark news, Chairman S. Matthew Schultz sold 9,010 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $95,866.40. Following the completion of the transaction, the chairman now directly owns 2,450,010 shares in the company, valued at approximately $26,068,106.40. This represents a 0.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amanda Cavaleri sold 13,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 140,289 shares of the company’s stock, 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. In the last three months, insiders have sold 34,836 shares of company stock valued at $335,945. 2.65% of the stock is owned by insiders.

CleanSpark Trading Down 3.9%

Shares of NASDAQ:CLSK opened at $9.61 on Thursday. The firm has a 50 day moving average of $8.04 and a 200-day moving average of $10.25. The stock has a market capitalization of $2.70 billion, a PE ratio of 87.37 and a beta of 4.36. CleanSpark, Inc. has a 12 month low of $6.45 and a 12 month high of $20.64.

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. Keefe, Bruyette & Woods initiated coverage on shares of CleanSpark in a report on Monday, January 27th. They set an “outperform” rating and a $19.00 target price for the company. JPMorgan Chase & Co. dropped 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. Needham & Company LLC initiated coverage on shares of 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 reiterated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a research note on Friday, February 7th. Finally, Chardan Capital upgraded shares of CleanSpark to a “strong-buy” rating in a research note on Tuesday, April 29th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, CleanSpark presently has a consensus rating of “Buy” and a consensus target price of $20.83.

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.