Shariaportfolio Inc. Purchases 118,317 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Shariaportfolio Inc. grew its holdings in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 18.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 771,810 shares of the company's stock after purchasing an additional 118,317 shares during the quarter. CleanSpark comprises about 3.4% of Shariaportfolio Inc.'s investment portfolio, making the stock its 9th largest position. Shariaportfolio Inc. owned 0.27% of CleanSpark worth $7,108,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CLSK. Compagnie Lombard Odier SCmA bought a new stake in shares of CleanSpark during the fourth quarter worth $31,000. GAMMA Investing LLC raised its holdings in CleanSpark by 962.1% during the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock worth $36,000 after purchasing an additional 3,579 shares during the last quarter. Hollencrest Capital Management raised its holdings in CleanSpark by 33.3% during the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock worth $37,000 after purchasing an additional 1,000 shares during the last quarter. KBC Group NV lifted its position in CleanSpark by 42.0% during the 3rd quarter. KBC Group NV now owns 7,403 shares of the company's stock valued at $69,000 after purchasing an additional 2,190 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of CleanSpark by 21.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company's stock valued at $75,000 after purchasing an additional 1,345 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other CleanSpark news, Chairman S. Matthew Schultz sold 9,010 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $95,866.40. Following the completion of the sale, 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 document filed with the SEC, which is available at the SEC website. Also, CEO Zachary Bradford sold 10,533 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $112,071.12. Following the transaction, the chief executive officer now owns 3,059,326 shares in the company, valued at approximately $32,551,228.64. The trade was a 0.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,536 shares of company stock valued at $265,748. Insiders own 2.65% of the company's stock.

CleanSpark Stock Performance

NASDAQ:CLSK traded down $0.36 during mid-day trading on Thursday, hitting $7.53. The stock had a trading volume of 24,024,309 shares, compared to its average volume of 23,385,992. The company's 50 day simple moving average is $10.39 and its 200 day simple moving average is $11.14. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 68.42 and a beta of 4.25. CleanSpark, Inc. has a twelve month low of $7.50 and a twelve month high of $24.72.

CleanSpark (NASDAQ:CLSK - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share 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%. As a group, equities analysts forecast that CleanSpark, Inc. will post 0.58 earnings per share for the current year.

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.