AQR Arbitrage LLC Takes Position in CleanSpark, Inc. (NASDAQ:CLSK)

AQR Arbitrage LLC bought a new position in shares of CleanSpark, Inc. (NASDAQ:CLSK) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 253,400 shares of the company’s stock, valued at approximately $2,334,000. AQR Arbitrage LLC owned approximately 0.09% of CleanSpark as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA bought a new position in shares of CleanSpark in the fourth quarter valued at about $31,000. GAMMA Investing LLC increased its position in CleanSpark by 962.1% in the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock valued at $36,000 after acquiring an additional 3,579 shares in the last quarter. Russell Investments Group Ltd. raised 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 worth $54,000 after acquiring an additional 2,196 shares during the last quarter. KBC Group NV lifted its position in shares of CleanSpark by 36.5% during the fourth quarter. KBC Group NV now owns 10,103 shares of the company’s stock worth $93,000 after purchasing an additional 2,700 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of CleanSpark during the fourth quarter valued at approximately $101,000. 43.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on CLSK shares. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a report on Friday, February 7th. Chardan Capital upgraded CleanSpark to a “strong-buy” rating in a report on Tuesday. Keefe, Bruyette & Woods initiated coverage on CleanSpark in a report on Monday, January 27th. They set an “outperform” rating and a $19.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Needham & Company LLC assumed coverage on shares of CleanSpark in a research report on Wednesday, February 12th. They set a “buy” rating and a $20.00 price target for the company. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, CleanSpark currently has an average rating of “Buy” and an average target price of $21.57.

CleanSpark Price Performance

CleanSpark stock opened at $8.67 on Friday. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 78.83 and a beta of 4.12. The company’s 50 day simple moving average is $7.89 and its 200 day simple moving average is $10.44. 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) earnings per share (EPS) for the quarter, beating 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, analysts predict that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling at CleanSpark

In other news, 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 value of $103,610.00. Following the completion of the transaction, the director now owns 140,289 shares in the company, valued at $1,118,103.33. This represents a 8.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $112,071.12. Following the sale, the chief executive officer now owns 3,059,326 shares in the company, valued at approximately $32,551,228.64. The trade was a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,836 shares of company stock valued at $335,945. Company insiders own 2.65% of the company’s stock.

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.