Quadrant Capital Group LLC Takes $734,000 Position in CleanSpark, Inc. (NASDAQ:CLSK)

Quadrant Capital Group LLC bought a new position in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 79,705 shares of the company's stock, valued at approximately $734,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of CleanSpark by 2.6% in 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 in the last quarter. Geode Capital Management LLC grew its position in CleanSpark by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 6,517,268 shares of the company's stock worth $60,037,000 after purchasing an additional 353,807 shares in the last quarter. State Street Corp increased its stake in CleanSpark by 4.5% in the 3rd quarter. State Street Corp now owns 6,073,912 shares of the company's stock valued at $56,730,000 after buying an additional 261,195 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of CleanSpark in the 4th quarter worth approximately $39,940,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of CleanSpark by 12.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,464,861 shares of the company's stock valued at $22,701,000 after acquiring an additional 270,026 shares in the last quarter. Institutional investors and hedge funds own 43.12% of the company's stock.

CleanSpark Trading Up 5.2 %

Shares of NASDAQ CLSK traded up $0.37 during midday trading on Friday, hitting $7.50. The company's stock had a trading volume of 19,651,092 shares, compared to its average volume of 28,644,532. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 68.19 and a beta of 4.12. The stock has a fifty day moving average price of $8.48 and a 200 day moving average price of $10.56. CleanSpark, Inc. has a one year low of $6.45 and a one year high of $21.39.

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

Insider Buying and Selling at CleanSpark

In other CleanSpark news, 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 completion of the sale, the chief executive officer now directly owns 3,059,326 shares in the company, valued at $32,551,228.64. The trade was 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 the company's 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 owns 140,289 shares of the company's stock, valued at $1,118,103.33. This trade represents a 8.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,836 shares of company stock valued at $335,945 in the last quarter. 2.65% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CLSK shares. JPMorgan Chase & Co. dropped their price target on CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Chardan Capital upgraded CleanSpark to a "strong-buy" rating in a research note on Monday, March 24th. Needham & Company LLC began coverage on shares of CleanSpark in a research report on Wednesday, February 12th. They set a "buy" rating and a $20.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and issued a $27.00 price objective on shares of CleanSpark in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a research report on Monday, January 27th. They set an "outperform" rating and a $19.00 target price for the company. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target 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.