Boston Partners Buys Shares of 46,353 CleanSpark, Inc. (NASDAQ:CLSK)

Boston Partners acquired a new stake in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 46,353 shares of the company's stock, valued at approximately $427,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in CleanSpark by 9.8% during the third quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company's stock worth $57,577,000 after buying an additional 549,187 shares in the last quarter. State Street Corp boosted its stake in shares of CleanSpark by 4.5% during the third quarter. State Street Corp now owns 6,073,912 shares of the company's stock valued at $56,730,000 after acquiring an additional 261,195 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in CleanSpark during the 4th quarter worth about $39,940,000. Charles Schwab Investment Management Inc. raised its stake in CleanSpark by 12.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,464,861 shares of the company's stock valued at $22,701,000 after purchasing an additional 270,026 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings 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 purchasing an additional 636,511 shares in the last quarter. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

CleanSpark Price Performance

NASDAQ CLSK traded down $0.28 during trading hours on Thursday, hitting $7.84. The company had a trading volume of 17,110,002 shares, compared to its average volume of 28,773,364. The firm's 50 day moving average is $9.49 and its 200 day moving average is $10.75. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 71.28 and a beta of 4.20. CleanSpark, Inc. has a fifty-two week low of $7.22 and a fifty-two week high of $24.72.

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CleanSpark (NASDAQ:CLSK - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts anticipate that CleanSpark, Inc. will post 0.58 EPS for the current year.

Insider Buying and Selling

In related news, CEO Zachary Bradford sold 10,533 shares of the firm's stock in a transaction 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 in the company, valued at $32,551,228.64. This trade represents a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the director now directly owns 140,289 shares of the company's stock, valued at approximately $1,118,103.33. This represents a 8.48 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,186 shares of company stock worth $349,985. Corporate insiders own 2.65% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CLSK. HC Wainwright reiterated a "buy" rating and set a $27.00 price target on shares of CleanSpark in a report on Friday, February 7th. JPMorgan Chase & Co. cut their price target on CleanSpark from $17.00 to $12.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Chardan Capital raised CleanSpark to a "strong-buy" rating in a research note on Monday. Needham & Company LLC began coverage on CleanSpark in a research report on Wednesday, February 12th. They issued a "buy" rating and a $20.00 price objective for the company. Finally, Macquarie increased their target price on CleanSpark from $20.00 to $24.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $21.57.

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.