Clarity Capital Partners LLC Buys 35,586 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Clarity Capital Partners LLC raised its stake in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 20.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 210,642 shares of the company's stock after purchasing an additional 35,586 shares during the period. CleanSpark accounts for approximately 1.0% of Clarity Capital Partners LLC's holdings, making the stock its 24th biggest holding. Clarity Capital Partners LLC owned 0.07% of CleanSpark worth $1,940,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Van ECK Associates Corp increased its position in shares of CleanSpark by 40.0% in the 4th quarter. Van ECK Associates Corp now owns 2,227,199 shares of the company's stock worth $20,513,000 after purchasing an additional 636,511 shares during the last quarter. Money Concepts Capital Corp grew its position in shares of CleanSpark by 19.7% during the 4th quarter. Money Concepts Capital Corp now owns 51,571 shares of the company's stock valued at $475,000 after buying an additional 8,487 shares during the last quarter. Archer Investment Management LLC bought a new stake in shares of CleanSpark during the 4th quarter valued at about $122,000. R Squared Ltd bought a new stake in shares of CleanSpark during the 4th quarter valued at about $101,000. Finally, KBC Group NV grew its position in shares of CleanSpark by 36.5% during the 4th quarter. KBC Group NV now owns 10,103 shares of the company's stock valued at $93,000 after buying an additional 2,700 shares during the last quarter. Institutional investors own 43.12% of the company's stock.

Insider Activity at CleanSpark

In other news, Chairman S. Matthew Schultz sold 9,010 shares of the business's 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 $95,866.40. Following the sale, the chairman now owns 2,450,010 shares in the company, valued at $26,068,106.40. The trade was a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Zachary Bradford sold 10,533 shares of the business's 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 sale, the chief executive officer now owns 3,059,326 shares in the company, valued at $32,551,228.64. This represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,536 shares of company stock valued at $265,748 over the last ninety days. Insiders own 2.65% of the company's stock.

CleanSpark Stock Performance

Shares of NASDAQ:CLSK traded down $0.17 during trading on Friday, reaching $10.50. The company had a trading volume of 18,971,406 shares, compared to its average volume of 21,496,218. The firm's fifty day moving average is $10.89 and its 200 day moving average is $11.35. The firm has a market capitalization of $2.95 billion, a PE ratio of 95.46 and a beta of 4.24. CleanSpark, Inc. has a twelve month low of $8.04 and a twelve month high of $24.72.

CleanSpark (NASDAQ:CLSK - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported ($0.07) 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 2.81%. Equities analysts predict that CleanSpark, Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CLSK has been the subject of a number of recent research reports. Keefe, Bruyette & Woods initiated coverage on shares of CleanSpark in a research report on Monday, January 27th. They set an "outperform" rating and a $19.00 price objective for the company. JPMorgan Chase & Co. raised shares of CleanSpark from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $10.50 to $17.00 in a research note on Tuesday, December 10th. HC Wainwright reissued a "buy" rating and set a $27.00 target price on shares of CleanSpark in a research note on Friday, February 7th. Macquarie boosted their target price on shares of CleanSpark from $20.00 to $24.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Finally, Needham & Company LLC started coverage on shares of CleanSpark in a research note on Wednesday. They set a "buy" rating and a $20.00 target price for the company. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $22.25.

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.