CleanSpark, Inc. (NASDAQ:CLSK) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 12.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,464,861 shares of the company's stock after purchasing an additional 270,026 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.88% of CleanSpark worth $22,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CLSK. State of New Jersey Common Pension Fund D raised its holdings in CleanSpark by 49.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 163,123 shares of the company's stock worth $1,524,000 after purchasing an additional 54,169 shares in the last quarter. Apollon Wealth Management LLC purchased a new position in shares of CleanSpark during the third quarter worth approximately $183,000. Victory Capital Management Inc. grew its position in shares of CleanSpark by 2.6% during the third quarter. Victory Capital Management Inc. now owns 67,981 shares of the company's stock worth $635,000 after acquiring an additional 1,709 shares during the last quarter. KBC Group NV grew its position in shares of CleanSpark by 42.0% during the third quarter. KBC Group NV now owns 7,403 shares of the company's stock worth $69,000 after acquiring an additional 2,190 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of CleanSpark during the third quarter worth approximately $374,000. Institutional investors and hedge funds own 43.12% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CLSK. 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 target price on the stock. HC Wainwright restated a "buy" rating and set a $27.00 target price on shares of CleanSpark in a research report on Friday, February 7th. JPMorgan Chase & Co. lowered their target price on shares of CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Keefe, Bruyette & Woods assumed coverage on shares of CleanSpark in a research report on Monday, January 27th. They issued an "outperform" rating and a $19.00 price objective on the stock. Finally, Macquarie lifted their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $21.57.

CleanSpark Price Performance

Shares of NASDAQ CLSK traded down $0.31 during trading on Friday, hitting $7.44. 87,713,930 shares of the company were exchanged, compared to its average volume of 28,944,588. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 67.64 and a beta of 4.20. CleanSpark, Inc. has a 1 year low of $7.22 and a 1 year high of $24.72. The firm's fifty day moving average price is $9.61 and its 200 day moving average price is $10.73.

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

Insiders Place Their Bets

In other news, Chairman S. Matthew Schultz sold 9,010 shares of CleanSpark stock in a transaction on Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $95,866.40. Following the completion of the transaction, the chairman now owns 2,450,010 shares of the company's stock, valued at $26,068,106.40. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Zachary Bradford sold 10,533 shares of CleanSpark stock in a transaction on Friday, February 14th. The stock was sold at an average price of $10.64, for a total value of $112,071.12. Following the transaction, the chief executive officer now directly owns 3,059,326 shares of the company's stock, valued at $32,551,228.64. This trade represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,186 shares of company stock worth $246,375. Corporate insiders own 2.65% of the company's stock.

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.