CleanSpark, Inc. (NASDAQ:CLSK) Chairman S. Matthew Schultz Sells 9,010 Shares

CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) Chairman S. Matthew Schultz sold 9,010 shares of CleanSpark stock in a transaction on Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $95,866.40. Following the sale, the chairman now directly owns 2,450,010 shares of the company's stock, valued at approximately $26,068,106.40. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

CleanSpark Stock Performance

Shares of CleanSpark stock traded down $0.42 on Tuesday, reaching $10.08. The stock had a trading volume of 19,241,667 shares, compared to its average volume of 23,667,131. The business's 50-day moving average price is $10.83 and its two-hundred day moving average price is $11.28. The stock has a market cap of $2.83 billion, a P/E ratio of 91.64 and a beta of 4.24. CleanSpark, Inc. has a fifty-two week low of $8.04 and a fifty-two week high of $24.72.

CleanSpark (NASDAQ:CLSK - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.81%. As a group, equities analysts forecast that CleanSpark, Inc. will post 0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CLSK. Macquarie raised their price target on CleanSpark from $20.00 to $24.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods initiated coverage on shares of CleanSpark in a research report on Monday, January 27th. They set an "outperform" rating and a $19.00 price objective on the stock. HC Wainwright reissued a "buy" rating and issued a $27.00 target price on shares of CleanSpark in a research report on Friday, February 7th. Needham & Company LLC initiated coverage on shares of CleanSpark in a report on Wednesday, February 12th. They set a "buy" rating and a $20.00 price target on the stock. Finally, JPMorgan Chase & Co. upgraded shares of CleanSpark from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $10.50 to $17.00 in a report on Tuesday, December 10th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $22.25.

Institutional Trading of CleanSpark

Several hedge funds have recently added to or reduced their stakes in CLSK. Hollencrest Capital Management increased its position in CleanSpark by 33.3% in the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock worth $37,000 after buying an additional 1,000 shares during the period. FMR LLC grew its stake in shares of CleanSpark by 5.0% in the third 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 last quarter. DekaBank Deutsche Girozentrale increased its position in CleanSpark by 21.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company's stock worth $75,000 after acquiring an additional 1,345 shares during the period. Prudential Financial Inc. raised its stake in 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. Finally, Corebridge Financial Inc. boosted its holdings in CleanSpark by 1.2% in the 4th 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. Institutional investors own 43.12% 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.