Matauro LLC Purchases 37,170 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Matauro LLC grew its position in CleanSpark, Inc. (NASDAQ:CLSK) by 46.8% in the first quarter, Holdings Channel.com reports. The fund owned 116,577 shares of the company’s stock after buying an additional 37,170 shares during the period. Matauro LLC’s holdings in CleanSpark were worth $783,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Tobam raised its holdings in shares of CleanSpark by 10.9% in the 1st quarter. Tobam now owns 36,795 shares of the company’s stock worth $247,000 after buying an additional 3,624 shares in the last quarter. CX Institutional acquired a new position in shares of CleanSpark in the 1st quarter worth approximately $26,000. Yousif Capital Management LLC acquired a new position in shares of CleanSpark in the 1st quarter worth approximately $689,000. Truefg LLC acquired a new stake in CleanSpark during the 1st quarter valued at $84,000. Finally, Farther Finance Advisors LLC increased its holdings in CleanSpark by 93.4% during the 1st quarter. Farther Finance Advisors LLC now owns 26,306 shares of the company’s stock valued at $177,000 after purchasing an additional 12,706 shares in the last quarter. Institutional investors own 43.12% of the company’s stock.

Wall Street Analyst Weigh In

CLSK has been the topic of a number of recent research reports. Chardan Capital initiated coverage on CleanSpark in a research report on Wednesday, May 21st. They issued a “buy” rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. raised their price target on CleanSpark from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CleanSpark presently has a consensus rating of “Buy” and a consensus target price of $21.00.

Insiders Place Their Bets

In other news, Director Amanda Cavaleri sold 13,000 shares of the company’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 completion of the transaction, the director now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roger Paul Beynon sold 50,000 shares of the company’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $10.51, for a total transaction of $525,500.00. Following the transaction, the director now owns 125,511 shares of the company’s stock, valued at $1,319,120.61. This trade represents a 28.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.65% of the company’s stock.

CleanSpark Stock Down 4.2%

Shares of NASDAQ:CLSK opened at $9.30 on Friday. CleanSpark, Inc. has a 12-month low of $6.45 and a 12-month high of $20.64. The stock has a market cap of $2.61 billion, a PE ratio of 84.55 and a beta of 4.23. The business has a 50 day moving average of $8.80 and a 200-day moving average of $9.66.

CleanSpark (NASDAQ:CLSK) last issued 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 during 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 quarterly revenue was up 62.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 earnings per share. Equities research analysts expect that CleanSpark, Inc. will post 0.58 earnings per share for the current year.

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.