46,214 Shares in CleanSpark, Inc. (NASDAQ:CLSK) Bought by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP acquired a new stake in CleanSpark, Inc. (NASDAQ:CLSK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 46,214 shares of the company’s stock, valued at approximately $426,000.

Other large investors also recently bought and sold shares of the company. Compagnie Lombard Odier SCmA acquired a new position in shares of CleanSpark during the fourth quarter worth about $31,000. GAMMA Investing LLC boosted 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 purchasing an additional 3,579 shares in the last quarter. KBC Group NV increased its position in CleanSpark by 36.5% during the 4th quarter. KBC Group NV now owns 10,103 shares of the company’s stock worth $93,000 after purchasing an additional 2,700 shares during the period. R Squared Ltd purchased a new position in shares of CleanSpark during the 4th quarter worth approximately $101,000. Finally, Haven Private LLC acquired a new stake in shares of CleanSpark in the 4th quarter valued at approximately $108,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in 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. Needham & Company LLC initiated coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They issued a “buy” rating and a $20.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Keefe, Bruyette & Woods began coverage on shares of CleanSpark in a report on Monday, January 27th. They issued an “outperform” rating and a $19.00 target price for the company. Finally, Macquarie boosted their price target on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $21.57.

Insider Buying and Selling

In other CleanSpark news, CEO Zachary Bradford sold 10,533 shares of CleanSpark stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 3,059,326 shares of the company’s stock, valued at approximately $32,551,228.64. The trade was a 0.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amanda Cavaleri sold 13,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $1,118,103.33. This trade represents a 8.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,186 shares of company stock worth $349,985. 2.65% of the stock is owned by corporate insiders.

CleanSpark Price Performance

Shares of NASDAQ CLSK opened at $8.79 on Tuesday. The firm’s 50-day moving average is $9.58 and its two-hundred day moving average is $10.76. The company has a market capitalization of $2.47 billion, a PE ratio of 79.92 and a beta of 4.20. CleanSpark, Inc. has a 12-month low of $7.22 and a 12-month high of $24.72.

CleanSpark (NASDAQ:CLSK) last posted its earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. On average, analysts forecast that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

CleanSpark 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.