Ieq Capital LLC acquired a new position in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 46,636 shares of the company's stock, valued at approximately $430,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Compagnie Lombard Odier SCmA bought a new stake in CleanSpark in the fourth quarter worth $31,000. GAMMA Investing LLC grew its position in CleanSpark by 962.1% in 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 period. Hollencrest Capital Management grew its stake in shares of CleanSpark by 33.3% during the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock valued at $37,000 after purchasing an additional 1,000 shares during the period. KBC Group NV boosted its holdings in shares of CleanSpark by 42.0% in the third quarter. KBC Group NV now owns 7,403 shares of the company's stock worth $69,000 after buying an additional 2,190 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of CleanSpark by 21.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company's stock valued at $75,000 after acquiring an additional 1,345 shares during the period. 43.12% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. HC Wainwright reaffirmed a "buy" rating and issued a $27.00 target price on shares of CleanSpark in a report on Friday, February 7th. JPMorgan Chase & Co. raised CleanSpark from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $10.50 to $17.00 in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods began coverage on CleanSpark in a research note on Monday, January 27th. They set an "outperform" rating and a $19.00 price objective for the company. Needham & Company LLC initiated coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They set a "buy" rating and a $20.00 target price on the stock. Finally, Macquarie upped 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. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $22.25.
Check Out Our Latest Stock Analysis on CLSK
CleanSpark Price Performance
Shares of CLSK stock traded up $0.48 during mid-day trading on Friday, hitting $7.99. The company had a trading volume of 26,289,738 shares, compared to its average volume of 23,462,604. The stock's 50 day moving average price is $10.26 and its 200-day moving average price is $11.10. CleanSpark, Inc. has a 52-week low of $7.36 and a 52-week high of $24.72. The company has a market capitalization of $2.24 billion, a P/E ratio of 72.64 and a beta of 4.24.
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 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%. On average, equities research analysts expect that CleanSpark, Inc. will post 0.58 earnings per share for the current year.
Insider Activity at CleanSpark
In other CleanSpark news, Chairman S. Matthew Schultz sold 9,010 shares of the company'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 transaction, the chairman now owns 2,450,010 shares in the company, valued at approximately $26,068,106.40. This represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Zachary Bradford sold 10,533 shares of the firm'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 $112,071.12. Following the sale, the chief executive officer now owns 3,059,326 shares in the company, valued at $32,551,228.64. This trade represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,186 shares of company stock valued at $246,375 in the last ninety days. Company insiders own 2.65% of the company's stock.
About CleanSpark
(
Free Report)
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.
See Also
Before you consider CleanSpark, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CleanSpark wasn't on the list.
While CleanSpark currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
