Invesco Ltd. grew its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 44.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,984,362 shares of the company's stock after buying an additional 914,279 shares during the period. Invesco Ltd. owned 1.06% of CleanSpark worth $27,486,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Compagnie Lombard Odier SCmA purchased a new stake in CleanSpark during the 4th quarter valued at $31,000. GAMMA Investing LLC raised its holdings 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. Russell Investments Group Ltd. grew its holdings in CleanSpark by 60.0% during the fourth quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company's stock valued at $54,000 after purchasing an additional 2,196 shares during the period. KBC Group NV increased its position in 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 buying an additional 2,700 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in CleanSpark in the 4th quarter worth $101,000. Hedge funds and other institutional investors own 43.12% of the company's stock.
CleanSpark Stock Down 0.5 %
CLSK stock traded down $0.04 during trading on Monday, hitting $7.47. The company had a trading volume of 23,933,797 shares, compared to its average volume of 28,408,873. CleanSpark, Inc. has a 52-week low of $6.45 and a 52-week high of $21.39. The company has a 50 day simple moving average of $8.15 and a 200-day simple moving average of $10.50. The firm has a market capitalization of $2.10 billion, a P/E ratio of 67.92 and a beta of 4.12.
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%. Sell-side analysts forecast that CleanSpark, Inc. will post 0.58 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research firms have recently commented on CLSK. Needham & Company LLC assumed coverage on CleanSpark in a research report on Wednesday, February 12th. They set a "buy" rating and a $20.00 target price for the company. Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a report on Monday, January 27th. They issued an "outperform" rating and a $19.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $27.00 price target on shares of CleanSpark in a report on Friday, February 7th. Chardan Capital raised CleanSpark to a "strong-buy" rating in a research note on Monday, March 24th. 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 report on Thursday, March 13th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $21.57.
Get Our Latest Stock Report on CleanSpark
Insider Activity
In other CleanSpark news, Chairman S. Matthew Schultz sold 9,010 shares of the company's 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. This represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amanda Cavaleri sold 13,000 shares of the company's 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 completion of the sale, the director now owns 140,289 shares in the company, valued at $1,118,103.33. The trade was a 8.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,836 shares of company stock worth $335,945 over the last 90 days. 2.65% of the stock is currently owned by corporate insiders.
About CleanSpark
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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.
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