CleanSpark, Inc. (NASDAQ:CLSK) Shares Bought by Advisory Services Network LLC

Advisory Services Network LLC lifted its position in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 253.2% in the 4th quarter, Holdings Channel reports. The fund owned 36,121 shares of the company’s stock after buying an additional 25,893 shares during the period. Advisory Services Network LLC’s holdings in CleanSpark were worth $333,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of CLSK. Assenagon Asset Management S.A. bought a new position in CleanSpark in the 4th quarter worth about $39,940,000. Invesco Ltd. grew its holdings in CleanSpark by 44.2% in the 4th quarter. Invesco Ltd. now owns 2,984,362 shares of the company’s stock worth $27,486,000 after buying an additional 914,279 shares in the last quarter. Van ECK Associates Corp increased its position in CleanSpark by 40.0% in the 4th quarter. Van ECK Associates Corp now owns 2,227,199 shares of the company’s stock valued at $20,513,000 after acquiring an additional 636,511 shares during the period. Geode Capital Management LLC raised its stake in CleanSpark by 9.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock valued at $57,577,000 after acquiring an additional 549,187 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in CleanSpark by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 19,655,746 shares of the company’s stock worth $181,029,000 after acquiring an additional 495,367 shares during the period. Institutional investors and hedge funds own 43.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CLSK shares. Chardan Capital raised CleanSpark to a “strong-buy” rating in a report on Monday, March 24th. Keefe, Bruyette & Woods assumed coverage on shares of CleanSpark in a research note on Monday, January 27th. They set an “outperform” rating and a $19.00 target price on the stock. Needham & Company LLC assumed 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. JPMorgan Chase & Co. dropped their target price on CleanSpark from $17.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of CleanSpark in a research report on Friday, February 7th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $21.57.

Insider Buying and Selling

In other news, Director Amanda Cavaleri sold 13,000 shares of CleanSpark stock in a transaction on Monday, March 24th. The stock was sold at an average price of $7.97, for a total transaction of $103,610.00. Following the transaction, the director now owns 140,289 shares in the company, valued at approximately $1,118,103.33. The trade was a 8.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Zachary Bradford sold 10,533 shares of the stock in a transaction dated Friday, February 14th. The stock was 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. This represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,836 shares of company stock valued at $335,945. Company insiders own 2.65% of the company’s stock.

CleanSpark Stock Up 3.2 %

CLSK opened at $7.51 on Friday. The firm has a market cap of $2.11 billion, a PE ratio of 68.28 and a beta of 4.12. The business has a fifty day simple moving average of $8.21 and a 200-day simple moving average of $10.49. CleanSpark, Inc. has a fifty-two week low of $6.45 and a fifty-two week high of $21.39.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings data 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 negative return on equity of 2.61% and a net margin of 16.07%. On average, equities research analysts anticipate that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

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.