Hel Ved Capital Management Ltd Buys Shares of 430,950 CleanSpark, Inc. (NASDAQ:CLSK)

Hel Ved Capital Management Ltd purchased a new position in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 430,950 shares of the company's stock, valued at approximately $3,969,000. CleanSpark comprises approximately 1.2% of Hel Ved Capital Management Ltd's investment portfolio, making the stock its 25th largest holding. Hel Ved Capital Management Ltd owned about 0.15% of CleanSpark as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Compagnie Lombard Odier SCmA bought a new stake in shares of CleanSpark during the fourth quarter valued at about $31,000. GAMMA Investing LLC boosted its position 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 acquiring an additional 3,579 shares during the period. KBC Group NV increased its stake in shares of CleanSpark by 36.5% in the fourth quarter. KBC Group NV now owns 10,103 shares of the company's stock worth $93,000 after acquiring an additional 2,700 shares during the last quarter. R Squared Ltd acquired a new stake in shares of CleanSpark during the 4th quarter valued at about $101,000. Finally, Haven Private LLC acquired a new position in shares of CleanSpark during the 4th quarter worth $108,000. Institutional investors and hedge funds own 43.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CLSK. Needham & Company LLC began coverage on CleanSpark in a research report on Wednesday, February 12th. They issued a "buy" rating and a $20.00 price target on the stock. HC Wainwright reiterated a "buy" rating and issued a $27.00 price objective on shares of CleanSpark in a research report on Friday, February 7th. Chardan Capital upgraded CleanSpark to a "strong-buy" rating in a research report on Monday, March 24th. Keefe, Bruyette & Woods assumed coverage on CleanSpark in a research note on Monday, January 27th. They issued an "outperform" rating and a $19.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price target on shares of CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CleanSpark has a consensus rating of "Buy" and an average target price of $21.57.

Insiders Place Their Bets

In other news, Director Amanda Cavaleri sold 13,000 shares of CleanSpark 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 sale, the director now directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Zachary Bradford sold 10,533 shares of CleanSpark stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 3,059,326 shares of the company's stock, valued at $32,551,228.64. The trade was a 0.34 % 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 worth $335,945. Company insiders own 2.65% of the company's stock.

CleanSpark Stock Down 7.0 %

CLSK stock traded down $0.53 during midday trading on Thursday, hitting $7.10. The company's stock had a trading volume of 13,375,753 shares, compared to its average volume of 28,621,151. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 64.63 and a beta of 4.12. The stock's 50-day moving average price is $8.61 and its 200 day moving average price is $10.59. CleanSpark, Inc. has a 1 year low of $6.45 and a 1 year high of $21.39.

CleanSpark (NASDAQ:CLSK - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities analysts forecast that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal 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.