SRN Advisors LLC Trims Position in CleanSpark, Inc. (NASDAQ:CLSK)

SRN Advisors LLC cut its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 51.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 126,427 shares of the company’s stock after selling 135,000 shares during the period. SRN Advisors LLC’s holdings in CleanSpark were worth $1,164,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hollencrest Capital Management grew its position in shares of CleanSpark by 33.3% during the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares in the last quarter. FMR LLC boosted its stake in CleanSpark by 5.0% during the third quarter. FMR LLC now owns 24,729 shares of the company’s stock valued at $231,000 after buying an additional 1,170 shares during the period. DekaBank Deutsche Girozentrale grew its position in CleanSpark by 21.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after buying an additional 1,345 shares in the last quarter. Victory Capital Management Inc. increased its stake in CleanSpark by 2.6% in the 3rd quarter. Victory Capital Management Inc. now owns 67,981 shares of the company’s stock worth $635,000 after acquiring an additional 1,709 shares during the last quarter. Finally, Sigma Planning Corp increased its stake in CleanSpark by 11.9% in the 4th quarter. Sigma Planning Corp now owns 17,518 shares of the company’s stock worth $161,000 after acquiring an additional 1,865 shares during the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CleanSpark

In other CleanSpark news, Chairman S. Matthew Schultz sold 9,010 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $95,866.40. Following the completion of the sale, the chairman now directly owns 2,450,010 shares in the company, valued at $26,068,106.40. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Zachary Bradford sold 10,533 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Insiders have sold a total of 24,536 shares of company stock worth $265,748 in the last ninety days. Insiders own 2.65% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on CLSK shares. Macquarie boosted their price objective on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Needham & Company LLC began coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They issued a “buy” rating and a $20.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a report on Friday, February 7th. JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $10.50 to $17.00 in a report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods assumed coverage on CleanSpark in a research note on Monday, January 27th. They issued an “outperform” rating and a $19.00 target price on the stock. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $22.25.

CleanSpark Stock Performance

Shares of NASDAQ:CLSK opened at $7.88 on Thursday. The business has a 50-day simple moving average of $10.46 and a two-hundred day simple moving average of $11.17. CleanSpark, Inc. has a fifty-two week low of $7.70 and a fifty-two week high of $24.72. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 71.64 and a beta of 4.25.

CleanSpark (NASDAQ:CLSK) last issued its earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping 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, research analysts predict 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.