Highbridge Capital Management LLC Invests $481,000 in CleanSpark, Inc. (NASDAQ:CLSK)

Highbridge Capital Management LLC acquired a new stake in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 52,195 shares of the company's stock, valued at approximately $481,000.

Other institutional investors also recently modified their holdings of the company. FMR LLC boosted its stake in shares of CleanSpark by 5.0% during the 3rd quarter. FMR LLC now owns 24,729 shares of the company's stock worth $231,000 after acquiring an additional 1,170 shares during the period. Prudential Financial Inc. increased its holdings in shares of CleanSpark by 9.1% in the fourth 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. raised its position in shares of CleanSpark by 1.2% in the fourth quarter. Corebridge Financial Inc. now owns 123,723 shares of the company's stock valued at $1,139,000 after purchasing an additional 1,507 shares during the period. Victory Capital Management Inc. raised its position in shares of CleanSpark by 2.6% in the third quarter. Victory Capital Management Inc. now owns 67,981 shares of the company's stock valued at $635,000 after purchasing an additional 1,709 shares during the period. Finally, Sigma Planning Corp boosted its holdings in shares of CleanSpark by 11.9% during the 4th quarter. Sigma Planning Corp now owns 17,518 shares of the company's stock worth $161,000 after buying an additional 1,865 shares during the period. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CLSK has been the topic of several research analyst reports. Chardan Capital raised shares of CleanSpark to a "strong-buy" rating in a report on Monday, March 24th. HC Wainwright reiterated a "buy" rating and set a $27.00 target price on shares of CleanSpark in a research note on Friday, February 7th. JPMorgan Chase & Co. reduced their price target on CleanSpark from $17.00 to $12.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Needham & Company LLC began coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They issued a "buy" rating and a $20.00 price target on the stock. Finally, Macquarie raised their price target on shares of CleanSpark from $20.00 to $24.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Six equities 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 MarketBeat, CleanSpark has an average rating of "Buy" and a consensus target price of $21.57.

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Insider Buying and Selling at CleanSpark

In other news, CEO Zachary Bradford sold 10,533 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $112,071.12. Following the completion of the transaction, the chief executive officer now owns 3,059,326 shares of the company's stock, valued at approximately $32,551,228.64. This represents a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amanda Cavaleri sold 13,000 shares of CleanSpark stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $7.97, for a total transaction of $103,610.00. Following the sale, the director now directly owns 140,289 shares in the company, valued at $1,118,103.33. This trade represents a 8.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,836 shares of company stock worth $335,945 over the last three months. Corporate insiders own 2.65% of the company's stock.

CleanSpark Stock Performance

Shares of NASDAQ CLSK traded up $0.53 during mid-day trading on Tuesday, reaching $7.25. The company had a trading volume of 13,952,941 shares, compared to its average volume of 28,707,715. CleanSpark, Inc. has a one year low of $6.59 and a one year high of $21.39. The business's 50-day simple moving average is $9.22 and its 200 day simple moving average is $10.72. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 65.46 and a beta of 4.20.

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 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%. On average, sell-side analysts anticipate that CleanSpark, Inc. will post 0.58 EPS for the current year.

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.