ExodusPoint Capital Management LP Buys New Position in CleanSpark, Inc. (NASDAQ:CLSK)

ExodusPoint Capital Management LP purchased a new stake in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 493,313 shares of the company's stock, valued at approximately $4,543,000. ExodusPoint Capital Management LP owned approximately 0.18% of CleanSpark as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new stake in CleanSpark in the 4th quarter valued at about $39,940,000. Van ECK Associates Corp grew its position in shares of CleanSpark by 40.0% in the fourth 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 during the last quarter. Geode Capital Management LLC grew its position in shares of CleanSpark by 9.8% in the third quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company's stock valued at $57,577,000 after purchasing an additional 549,187 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 495,367 shares in the last quarter. Finally, Barclays PLC raised its position in shares of CleanSpark by 364.0% during the 3rd quarter. Barclays PLC now owns 389,201 shares of the company's stock worth $3,634,000 after purchasing an additional 305,316 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company's stock.

Insider Transactions at CleanSpark

In related news, Director Amanda Cavaleri sold 13,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 140,289 shares in the company, valued at approximately $1,118,103.33. This trade represents a 8.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $112,071.12. Following the transaction, the chief executive officer now directly owns 3,059,326 shares in the company, valued at approximately $32,551,228.64. This trade represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,836 shares of company stock worth $335,945 in the last ninety days. Insiders own 2.65% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CLSK shares. Chardan Capital upgraded CleanSpark to a "strong-buy" rating in a report on Monday, March 24th. JPMorgan Chase & Co. decreased their price objective on CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. HC Wainwright reissued a "buy" rating and issued a $27.00 target price on shares of CleanSpark in a research note on Friday, February 7th. Needham & Company LLC assumed coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They set a "buy" rating and a $20.00 price target on the stock. Finally, Keefe, Bruyette & Woods initiated coverage on shares of CleanSpark in a research report on Monday, January 27th. They issued an "outperform" rating and a $19.00 price objective for the company. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $21.57.

CleanSpark Stock Up 5.2 %

Shares of CLSK stock traded up $0.37 during trading hours on Friday, hitting $7.50. 19,651,092 shares of the company were exchanged, compared to its average volume of 28,644,532. The firm has a fifty day moving average of $8.48 and a 200 day moving average of $10.56. CleanSpark, Inc. has a 1 year low of $6.45 and a 1 year high of $21.39. The firm has a market cap of $2.11 billion, a PE ratio of 68.19 and a beta of 4.12.

CleanSpark (NASDAQ:CLSK - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. Analysts expect that CleanSpark, Inc. will post 0.58 earnings per share for the current 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.