CleanSpark, Inc. (NASDAQ:CLSK) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 58.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 119,679 shares of the company's stock after acquiring an additional 44,251 shares during the period. Franklin Resources Inc.'s holdings in CleanSpark were worth $1,102,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of CleanSpark by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 19,655,746 shares of the company's stock valued at $181,029,000 after buying an additional 495,367 shares during the last quarter. Geode Capital Management LLC raised its holdings in CleanSpark by 9.8% in the third quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company's stock worth $57,577,000 after purchasing an additional 549,187 shares in the last quarter. State Street Corp lifted its position in CleanSpark by 4.5% during the 3rd quarter. State Street Corp now owns 6,073,912 shares of the company's stock valued at $56,730,000 after acquiring an additional 261,195 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of CleanSpark in the 4th quarter worth approximately $39,940,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of CleanSpark by 12.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,464,861 shares of the company's stock worth $22,701,000 after acquiring an additional 270,026 shares during the last quarter. Hedge funds and other institutional investors own 43.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CLSK. Chardan Capital raised CleanSpark to a "strong-buy" rating in a research report on Monday, March 24th. 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 note on Thursday, March 13th. Keefe, Bruyette & Woods assumed coverage on shares of CleanSpark in a report on Monday, January 27th. They issued an "outperform" rating and a $19.00 target price on the stock. Needham & Company LLC began coverage on CleanSpark in a report on Wednesday, February 12th. They set a "buy" rating and a $20.00 price objective on the stock. Finally, HC Wainwright reissued a "buy" rating and set a $27.00 price objective on shares of CleanSpark in a research note on Friday, February 7th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $21.57.

CleanSpark Price Performance

CLSK stock traded up $0.23 during midday trading on Friday, hitting $7.51. 21,198,441 shares of the stock traded hands, compared to its average volume of 28,492,470. The stock's fifty day simple moving average is $8.15 and its 200-day simple moving average is $10.48. CleanSpark, Inc. has a 1-year low of $6.45 and a 1-year high of $21.39. The firm has a market cap of $2.11 billion, a P/E ratio of 68.28 and a beta of 4.12.

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

Insider Activity

In other CleanSpark news, CEO Zachary Bradford sold 10,533 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $10.64, for a total value of $112,071.12. Following the sale, the chief executive officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman S. Matthew Schultz sold 9,010 shares of the firm's stock in a transaction 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 completion of 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 34,836 shares of company stock valued at $335,945. 2.65% of the stock is currently owned by insiders.

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.