CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) COO Scott Eugene Garrison sold 1,337 shares of the company'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 value of $14,225.68. Following the completion of the sale, the chief operating officer now owns 196,059 shares in the company, valued at approximately $2,086,067.76. This represents a 0.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
CleanSpark Stock Performance
Shares of CleanSpark stock traded down $0.42 on Tuesday, hitting $10.08. The company's stock had a trading volume of 19,241,667 shares, compared to its average volume of 23,667,131. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 91.64 and a beta of 4.24. CleanSpark, Inc. has a 1 year low of $8.04 and a 1 year high of $24.72. The firm has a fifty day moving average price of $10.83 and a 200-day moving average price of $11.28.
CleanSpark (NASDAQ:CLSK - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.81% and a net margin of 16.07%. As a group, analysts forecast that CleanSpark, Inc. will post 0.29 EPS for the current year.
Hedge Funds Weigh In On CleanSpark
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Compagnie Lombard Odier SCmA purchased a new stake in shares of CleanSpark during the fourth quarter worth about $31,000. GAMMA Investing LLC lifted its stake in CleanSpark by 962.1% in the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock valued at $36,000 after buying an additional 3,579 shares in the last quarter. Hollencrest Capital Management boosted its holdings in CleanSpark by 33.3% in the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock worth $37,000 after buying an additional 1,000 shares during the last quarter. Russell Investments Group Ltd. increased its stake in CleanSpark by 60.0% during the 4th quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company's stock worth $54,000 after buying an additional 2,196 shares in the last quarter. Finally, KBC Group NV increased its stake in CleanSpark by 42.0% during the 3rd quarter. KBC Group NV now owns 7,403 shares of the company's stock worth $69,000 after buying an additional 2,190 shares in the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts recently issued reports on CLSK shares. 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 report on Wednesday, December 4th. JPMorgan Chase & Co. upgraded CleanSpark from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $10.50 to $17.00 in a research note on Tuesday, December 10th. Needham & Company LLC assumed coverage on CleanSpark in a research note on Wednesday, February 12th. They issued a "buy" rating and a $20.00 target price on the stock. Keefe, Bruyette & Woods assumed coverage on CleanSpark in a report on Monday, January 27th. They set an "outperform" rating and a $19.00 target price on the stock. Finally, HC Wainwright reissued a "buy" rating and issued a $27.00 price target on shares of CleanSpark in a report on Friday, February 7th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, CleanSpark has an average rating of "Buy" and an average price target of $22.25.
Check Out Our Latest Report on CLSK
CleanSpark Company Profile
(
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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.
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