79,705 Shares in CleanSpark, Inc. (NASDAQ:CLSK) Acquired by Quadrant Capital Group LLC

Quadrant Capital Group LLC acquired a new stake in CleanSpark, Inc. (NASDAQ:CLSK) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 79,705 shares of the company’s stock, valued at approximately $734,000.

Several other institutional investors have also added to or reduced their stakes in CLSK. Compagnie Lombard Odier SCmA bought a new position in shares of CleanSpark in the fourth quarter worth about $31,000. GAMMA Investing LLC increased its position in CleanSpark by 962.1% during the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock worth $36,000 after purchasing an additional 3,579 shares in the last quarter. Russell Investments Group Ltd. lifted its stake 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 purchasing an additional 2,196 shares during the last quarter. KBC Group NV boosted its position in CleanSpark by 36.5% in the fourth quarter. KBC Group NV now owns 10,103 shares of the company’s stock valued at $93,000 after buying an additional 2,700 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of CleanSpark during the fourth quarter worth $101,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CleanSpark

In related news, CEO Zachary Bradford sold 10,533 shares of the company’s 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 transaction, the chief executive officer now directly owns 3,059,326 shares of the company’s stock, valued at approximately $32,551,228.64. This represents a 0.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman S. Matthew Schultz sold 9,010 shares of the firm’s 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 $95,866.40. Following the completion of the sale, the chairman now directly owns 2,450,010 shares of the company’s stock, valued at $26,068,106.40. This trade represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,836 shares of company stock valued at $335,945 in the last quarter. 2.65% of the stock is currently owned by company insiders.

CleanSpark Trading Down 1.2 %

Shares of CLSK opened at $7.32 on Monday. The firm’s fifty day simple moving average is $8.93 and its two-hundred day simple moving average is $10.67. CleanSpark, Inc. has a 12 month low of $6.50 and a 12 month high of $21.39. The stock has a market capitalization of $2.06 billion, a P/E ratio of 66.55 and a beta of 4.12.

CleanSpark (NASDAQ:CLSK) last released its earnings results on Thursday, February 6th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. As a group, research analysts predict that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CLSK shares. Chardan Capital raised CleanSpark to a “strong-buy” rating in a report on Monday, March 24th. Keefe, Bruyette & Woods started coverage on CleanSpark in a report on Monday, January 27th. They set an “outperform” rating and a $19.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Needham & Company LLC initiated coverage on shares of CleanSpark in a report on Wednesday, February 12th. They set a “buy” rating and a $20.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a research report on Friday, February 7th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $21.57.

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.