CleanSpark, Inc. (NASDAQ:CLSK) Director Thomas Leigh Wood Sells 22,222 Shares

CleanSpark, Inc. (NASDAQ:CLSK) Director Thomas Leigh Wood sold 22,222 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total transaction of $205,331.28. Following the completion of the sale, the director now directly owns 137,050 shares in the company, valued at $1,266,342. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

CleanSpark Stock Down 0.4 %

Shares of CleanSpark stock traded down $0.04 during trading on Thursday, hitting $9.25. 15,650,650 shares of the stock were exchanged, compared to its average volume of 30,930,049. The company has a fifty day moving average price of $13.35 and a 200-day moving average price of $15.98. CleanSpark, Inc. has a 1-year low of $3.38 and a 1-year high of $24.72.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings data on Friday, August 9th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). The firm had revenue of $104.11 million for the quarter, compared to analyst estimates of $114.04 million. CleanSpark had a negative return on equity of 3.64% and a negative net margin of 46.31%. Sell-side analysts anticipate that CleanSpark, Inc. will post -0.06 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in CleanSpark by 58.5% in the 1st quarter. Vanguard Group Inc. now owns 12,755,249 shares of the company’s stock valued at $270,539,000 after buying an additional 4,706,738 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in CleanSpark by 62.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,433,586 shares of the company’s stock valued at $93,032,000 after buying an additional 3,235,171 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in CleanSpark by 11.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,379,611 shares of the company’s stock valued at $15,217,000 after buying an additional 142,078 shares during the last quarter. Millennium Management LLC grew its stake in CleanSpark by 74.6% in the 2nd quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock valued at $19,958,000 after buying an additional 534,825 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in CleanSpark in the 2nd quarter valued at about $18,074,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on CLSK. Cantor Fitzgerald reissued an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a research report on Tuesday, September 3rd. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of CleanSpark in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut their price target on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.97.

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.