Advantage Alpha Capital Partners LP Invests $426,000 in CleanSpark, Inc. (NASDAQ:CLSK)

Advantage Alpha Capital Partners LP acquired a new position in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 46,214 shares of the company's stock, valued at approximately $426,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CLSK. Assenagon Asset Management S.A. bought a new position in shares of CleanSpark during the fourth quarter worth about $39,940,000. Van ECK Associates Corp raised 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 acquiring an additional 636,511 shares during the period. Geode Capital Management LLC increased its position in CleanSpark by 9.8% during the 3rd 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 during the period. Vanguard Group Inc. grew its stake in shares of CleanSpark by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 19,655,746 shares of the company's stock valued at $181,029,000 after acquiring an additional 495,367 shares in the last quarter. Finally, Barclays PLC grew 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 in the last quarter. 43.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CLSK. JPMorgan Chase & Co. decreased their price target on shares of CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Keefe, Bruyette & Woods initiated coverage on CleanSpark in a research note on Monday, January 27th. They issued an "outperform" rating and a $19.00 price objective for the company. Chardan Capital upgraded shares of CleanSpark to a "strong-buy" rating in a report on Monday. HC Wainwright reissued a "buy" rating and issued a $27.00 price target on shares of CleanSpark in a report on Friday, February 7th. Finally, Needham & Company LLC initiated 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. Six research 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, the company has a consensus rating of "Buy" and an average price target of $21.57.

Remove Ads

CleanSpark Stock Down 8.3 %

NASDAQ CLSK traded down $0.65 during trading hours on Friday, reaching $7.19. The company's stock had a trading volume of 26,094,180 shares, compared to its average volume of 28,800,737. CleanSpark, Inc. has a 1 year low of $7.03 and a 1 year high of $21.39. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 65.37 and a beta of 4.20. The firm's 50-day moving average price is $9.33 and its 200-day moving average price is $10.72.

CleanSpark (NASDAQ:CLSK - Get Free Report) last released its quarterly 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%. Equities research analysts anticipate that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

Insider Transactions at CleanSpark

In related news, Chairman S. Matthew Schultz sold 9,010 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 value of $95,866.40. Following the completion of the transaction, the chairman now owns 2,450,010 shares in the company, valued at $26,068,106.40. This trade represents a 0.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amanda Cavaleri sold 13,000 shares of CleanSpark stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $7.97, for a total value of $103,610.00. Following the sale, 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. In the last quarter, insiders sold 34,836 shares of company stock valued at $335,945. Company insiders own 2.65% of the company's stock.

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.