CleanSpark, Inc. (NASDAQ:CLSK) CEO Sells $112,071.12 in Stock

CleanSpark, Inc. (NASDAQ:CLSK) CEO Zachary Bradford sold 10,533 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.64, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

CleanSpark Stock Performance

NASDAQ CLSK opened at $10.50 on Monday. CleanSpark, Inc. has a twelve month low of $8.04 and a twelve month high of $24.72. The stock has a market capitalization of $2.95 billion, a PE ratio of 95.46 and a beta of 4.24. The stock has a 50-day simple moving average of $10.89 and a 200 day simple moving average of $11.31.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.81% and a net margin of 16.07%. As a group, equities research analysts forecast that CleanSpark, Inc. will post 0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On CleanSpark

Several large investors have recently made changes to their positions in CLSK. Compagnie Lombard Odier SCmA acquired a new position in shares of CleanSpark during the 4th quarter worth about $31,000. GAMMA Investing LLC raised its holdings 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. Hollencrest Capital Management raised its holdings in CleanSpark by 33.3% in the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $37,000 after acquiring an additional 1,000 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in CleanSpark by 60.0% in the 4th quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company’s stock valued at $54,000 after acquiring an additional 2,196 shares in the last quarter. Finally, KBC Group NV raised its holdings in CleanSpark by 42.0% in the 3rd quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $69,000 after acquiring an additional 2,190 shares in the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

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.