SRN Advisors LLC Sells 135,000 Shares of CleanSpark, Inc. (NASDAQ:CLSK)
SRN Advisors LLC has reduced its stake in CleanSpark, Inc. (NASDAQ:CLSK) by 51.6%, selling 135,000 shares during the fourth quarter, leaving them with 126,427 shares valued at $1,164,000. Other institutional investors have also adjusted their positions, with Shariaportfolio Inc. increasing its stake by 18.1%. Analysts have given CleanSpark a consensus rating of "Buy" with an average price target of $22.25. CEO Zachary Bradford and Chairman S. Matthew Schultz sold shares recently, reducing their ownership slightly. CleanSpark's stock opened at $7.88, with a market cap of $2.21 billion.
SRN Advisors LLC reduced its position in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 51.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,427 shares of the company's stock after selling 135,000 shares during the period. SRN Advisors LLC's holdings in CleanSpark were worth $1,164,000 at the end of the most recent quarter.
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Other hedge funds have also bought and sold shares of the company. Shariaportfolio Inc. lifted its stake in shares of CleanSpark by 18.1% in the fourth quarter. Shariaportfolio Inc. now owns 771,810 shares of the company's stock valued at $7,108,000 after buying an additional 118,317 shares in the last quarter. Sigma Planning Corp raised its holdings in shares of CleanSpark by 11.9% in the 4th quarter. Sigma Planning Corp now owns 17,518 shares of the company's stock worth $161,000 after acquiring an additional 1,865 shares during the last quarter. Matauro LLC bought a new position in CleanSpark in the 4th quarter valued at about $731,000. Ieq Capital LLC acquired a new position in CleanSpark during the 4th quarter valued at about $430,000. Finally, Global Retirement Partners LLC increased its holdings in CleanSpark by 5,920.0% during the 4th quarter. Global Retirement Partners LLC now owns 15,050 shares of the company's stock worth $139,000 after purchasing an additional 14,800 shares in the last quarter. Institutional investors and hedge funds own 43.12% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on CLSK. JPMorgan Chase & Co. raised CleanSpark from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $10.50 to $17.00 in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods began coverage on CleanSpark in a research report on Monday, January 27th. They issued an "outperform" rating and a $19.00 price target for the company. Macquarie lifted their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Needham & Company LLC initiated coverage on shares of CleanSpark in a report on Wednesday, February 12th. They issued a "buy" rating and a $20.00 target price for the company. Finally, HC Wainwright reissued a "buy" rating and set a $27.00 price target on shares of CleanSpark in a research report on Friday, February 7th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $22.25.
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Check Out Our Latest Research Report on CLSK
Insider Activity at CleanSpark
In other news, CEO Zachary Bradford sold 10,533 shares of CleanSpark 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman S. Matthew Schultz sold 9,010 shares of the company'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 transaction of $95,866.40. Following the sale, the chairman now owns 2,450,010 shares in the company, valued at $26,068,106.40. The trade was a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,536 shares of company stock worth $265,748. Insiders own 2.65% of the company's stock.
CleanSpark Stock Performance
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Shares of NASDAQ:CLSK opened at $7.88 on Thursday. The company has a market capitalization of $2.21 billion, a P/E ratio of 71.64 and a beta of 4.25. The company's 50-day moving average is $10.46 and its 200 day moving average is $11.17. CleanSpark, Inc. has a fifty-two week low of $7.70 and a fifty-two week high of $24.72.
CleanSpark (NASDAQ:CLSK - Get Free Report) last announced its quarterly earnings data 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 net margin of 16.07% and a negative return on equity of 2.61%. As a group, research analysts predict that CleanSpark, Inc. will post 0.58 earnings per share for the current year.
About CleanSpark
(Free Report)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.
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