Intech Investment Management LLC Acquires 66,419 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Intech Investment Management LLC lifted its stake in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 92.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 138,586 shares of the company's stock after buying an additional 66,419 shares during the period. Intech Investment Management LLC's holdings in CleanSpark were worth $1,276,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Compagnie Lombard Odier SCmA acquired a new stake in shares of CleanSpark during the 4th quarter valued at about $31,000. GAMMA Investing LLC increased its holdings in shares of CleanSpark by 962.1% in the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock valued at $36,000 after purchasing an additional 3,579 shares in the last quarter. KBC Group NV increased its stake in shares of CleanSpark by 42.0% in the 3rd quarter. KBC Group NV now owns 7,403 shares of the company's stock valued at $69,000 after buying an additional 2,190 shares during the period. R Squared Ltd acquired a new stake in CleanSpark in the fourth quarter worth about $101,000. Finally, Haven Private LLC acquired a new position in CleanSpark during the 4th quarter valued at about $108,000. Institutional investors own 43.12% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CLSK. Macquarie lifted 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. Chardan Capital upgraded shares of CleanSpark to a "strong-buy" rating in a research report on Monday. Keefe, Bruyette & Woods assumed coverage on CleanSpark in a research report on Monday, January 27th. They issued an "outperform" rating and a $19.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and set a $27.00 price objective on shares of CleanSpark in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. cut their target price on CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $21.57.

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Insider Buying and Selling at CleanSpark

In other CleanSpark news, CEO Zachary Bradford sold 10,533 shares of CleanSpark stock in a transaction dated Friday, February 14th. The stock was 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 of the company's stock, valued at $32,551,228.64. This trade represents a 0.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Amanda Cavaleri sold 13,000 shares of the business's stock in a transaction dated Monday, March 24th. The shares were 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 in the company, valued at approximately $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. Over the last quarter, insiders have sold 36,186 shares of company stock valued at $349,985. 2.65% of the stock is currently owned by corporate insiders.

CleanSpark Stock Down 7.0 %

CleanSpark stock traded down $0.61 during mid-day trading on Wednesday, hitting $8.12. 16,431,575 shares of the company's stock were exchanged, compared to its average volume of 28,820,454. The company's 50 day simple moving average is $9.55 and its 200-day simple moving average is $10.77. The firm has a market capitalization of $2.28 billion, a P/E ratio of 73.82 and a beta of 4.20. CleanSpark, Inc. has a fifty-two week low of $7.22 and a fifty-two week high of $24.72.

CleanSpark (NASDAQ:CLSK - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) earnings per share 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%. Research analysts expect 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.