CleanSpark, Inc. (NASDAQ:CLSK) CTO Sells $14,094.00 in Stock

CleanSpark, Inc. (NASDAQ:CLSK) CTO Taylor Monnig sold 1,350 shares of CleanSpark stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $10.44, for a total value of $14,094.00. Following the completion of the transaction, the chief technology officer now owns 209,652 shares in the company, valued at approximately $2,188,766.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Taylor Monnig also recently made the following trade(s):

• On Friday, August 30th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The shares were sold at an average price of $10.77, for a total transaction of $14,539.50.
• On Friday, July 26th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The stock was sold at an average price of $16.97, for a total transaction of $22,909.50.

CleanSpark Stock Performance

Shares of NASDAQ:CLSK opened at $10.13 on Monday. CleanSpark, Inc. has a 52-week low of $3.38 and a 52-week high of $24.72. The business has a 50-day moving average price of $11.57 and a 200-day moving average price of $15.27.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). CleanSpark had a negative return on equity of 3.64% and a negative net margin of 46.31%. The business had revenue of $104.11 million for the quarter, compared to analysts’ expectations of $114.04 million. Analysts forecast that CleanSpark, Inc. will post -0.06 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLSK. Russell Investments Group Ltd. lifted its holdings in shares of CleanSpark by 36.8% in the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock valued at $62,000 after buying an additional 787 shares during the period. SteelPeak Wealth LLC lifted its holdings in CleanSpark by 3.0% in the second quarter. SteelPeak Wealth LLC now owns 36,907 shares of the company’s stock valued at $589,000 after acquiring an additional 1,066 shares during the period. Amalgamated Bank boosted its position in CleanSpark by 18.4% in the 2nd quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock worth $122,000 after purchasing an additional 1,194 shares in the last quarter. Tobam grew its stake in shares of CleanSpark by 6.4% during the 1st quarter. Tobam now owns 23,142 shares of the company’s stock worth $491,000 after purchasing an additional 1,394 shares during the period. Finally, Scotia Capital Inc. increased its holdings in shares of CleanSpark by 14.5% during the 4th quarter. Scotia Capital Inc. now owns 11,810 shares of the company’s stock valued at $130,000 after purchasing an additional 1,500 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $23.00 price target on shares of CleanSpark in a report on Tuesday, September 3rd. JPMorgan Chase & Co. lowered their price objective on CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a research report on Friday, August 23rd. HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research report on Wednesday, September 25th. Finally, Macquarie initiated coverage on CleanSpark in a report on Wednesday, September 25th. They issued an “outperform” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $19.11.

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.