Barclays PLC Acquires 374,600 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Barclays PLC boosted its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 96.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 763,801 shares of the company's stock after purchasing an additional 374,600 shares during the quarter. Barclays PLC owned about 0.27% of CleanSpark worth $7,034,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Compagnie Lombard Odier SCmA bought a new stake in shares of CleanSpark during the 4th quarter worth about $31,000. GAMMA Investing LLC grew its position in shares of CleanSpark by 962.1% in the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock valued at $36,000 after purchasing an additional 3,579 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of CleanSpark by 60.0% during the fourth quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company's stock worth $54,000 after purchasing an additional 2,196 shares during the period. KBC Group NV lifted its holdings in CleanSpark by 36.5% during the 4th quarter. KBC Group NV now owns 10,103 shares of the company's stock worth $93,000 after purchasing an additional 2,700 shares during the last quarter. Finally, R Squared Ltd bought a new stake in CleanSpark in the 4th quarter valued at $101,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CleanSpark

In related news, Chairman S. Matthew Schultz sold 9,010 shares of the company's stock in a transaction that occurred 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 sale, the chairman now directly owns 2,450,010 shares in the company, valued at $26,068,106.40. This represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Amanda Cavaleri sold 13,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 140,289 shares of the company's stock, valued at approximately $1,118,103.33. The trade was a 8.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,836 shares of company stock worth $335,945 over the last three months. Company insiders own 2.65% of the company's stock.

CleanSpark Price Performance

NASDAQ:CLSK traded up $0.02 during mid-day trading on Tuesday, reaching $8.59. The stock had a trading volume of 14,582,127 shares, compared to its average volume of 28,285,005. CleanSpark, Inc. has a 12 month low of $6.45 and a 12 month high of $20.64. The stock has a 50-day simple moving average of $7.94 and a two-hundred day simple moving average of $10.48. The stock has a market capitalization of $2.41 billion, a PE ratio of 77.96 and a beta of 4.12.

CleanSpark (NASDAQ:CLSK - Get Free Report) last announced 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%. Equities analysts expect that CleanSpark, Inc. will post 0.58 EPS for the current year.

Analysts Set New Price Targets

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