Geode Capital Management LLC Boosts Stock Holdings in CleanSpark, Inc. (NASDAQ:CLSK)

Geode Capital Management LLC lifted its position in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,517,268 shares of the company's stock after purchasing an additional 353,807 shares during the quarter. Geode Capital Management LLC owned 2.32% of CleanSpark worth $60,037,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CLSK. FMR LLC lifted its stake in CleanSpark by 5.0% during the 3rd quarter. FMR LLC now owns 24,729 shares of the company's stock valued at $231,000 after acquiring an additional 1,170 shares in the last quarter. Prudential Financial Inc. increased its position in shares of CleanSpark by 9.1% during the 4th quarter. Prudential Financial Inc. now owns 16,835 shares of the company's stock valued at $155,000 after purchasing an additional 1,405 shares during the last quarter. Corebridge Financial Inc. boosted its holdings in shares of CleanSpark by 1.2% in the 4th quarter. Corebridge Financial Inc. now owns 123,723 shares of the company's stock worth $1,139,000 after buying an additional 1,507 shares during the last quarter. Sigma Planning Corp boosted its stake in CleanSpark by 11.9% in the fourth quarter. Sigma Planning Corp now owns 17,518 shares of the company's stock valued at $161,000 after acquiring an additional 1,865 shares during the last quarter. Finally, KBC Group NV boosted its position in CleanSpark by 36.5% during the fourth quarter. KBC Group NV now owns 10,103 shares of the company's stock worth $93,000 after purchasing an additional 2,700 shares during the period. Institutional investors own 43.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. HC Wainwright reissued a "buy" rating and set a $27.00 target price on shares of CleanSpark in a report on Friday, February 7th. Chardan Capital raised CleanSpark to a "strong-buy" rating in a research note on Monday, March 24th. JPMorgan Chase & Co. lowered their price objective on shares of CleanSpark from $17.00 to $12.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Needham & Company LLC assumed coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They issued a "buy" rating and a $20.00 price target for the company. Finally, Keefe, Bruyette & Woods initiated coverage on CleanSpark in a research note on Monday, January 27th. They issued an "outperform" rating and a $19.00 target price for the company. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $21.57.

CleanSpark Stock Up 3.2 %

Shares of NASDAQ:CLSK traded up $0.23 on Friday, hitting $7.51. 21,198,441 shares of the company traded hands, compared to its average volume of 28,540,538. CleanSpark, Inc. has a 52 week low of $6.45 and a 52 week high of $21.39. The stock has a 50 day simple moving average of $8.21 and a 200-day simple moving average of $10.49. The company has a market cap of $2.11 billion, a PE ratio of 68.28 and a beta of 4.12.

CleanSpark (NASDAQ:CLSK - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. As a group, sell-side analysts anticipate that CleanSpark, Inc. will post 0.58 earnings per share for the current year.

Insider Buying and Selling at CleanSpark

In other news, Chairman S. Matthew Schultz sold 9,010 shares of the business'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 of the company's stock, valued at $26,068,106.40. The trade was a 0.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amanda Cavaleri sold 13,000 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $7.97, for a total value of $103,610.00. Following the completion of the sale, the director now owns 140,289 shares of the company's stock, valued at approximately $1,118,103.33. The trade was a 8.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,836 shares of company stock worth $335,945. Insiders own 2.65% of the company's stock.

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.