Jump Financial LLC Purchases New Stake in CleanSpark, Inc. (NASDAQ:CLSK)

Jump Financial LLC purchased a new stake in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,459,598 shares of the company's stock, valued at approximately $13,443,000. Jump Financial LLC owned 0.52% of CleanSpark as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in CleanSpark by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 19,655,746 shares of the company's stock valued at $181,029,000 after acquiring an additional 495,367 shares during the period. Geode Capital Management LLC raised its stake in shares of CleanSpark by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 6,517,268 shares of the company's stock valued at $60,037,000 after purchasing an additional 353,807 shares during the period. State Street Corp lifted its holdings in CleanSpark by 4.5% during the 3rd quarter. State Street Corp now owns 6,073,912 shares of the company's stock worth $56,730,000 after purchasing an additional 261,195 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in CleanSpark during the 4th quarter worth about $39,940,000. Finally, Invesco Ltd. boosted its stake in CleanSpark by 44.2% in the 4th quarter. Invesco Ltd. now owns 2,984,362 shares of the company's stock worth $27,486,000 after purchasing an additional 914,279 shares during the period. Hedge funds and other institutional investors own 43.12% of the company's stock.

Insider Activity at CleanSpark

In related news, Director Amanda Cavaleri sold 13,000 shares of the stock in a transaction 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 transaction, the director now owns 140,289 shares of the company's stock, valued at approximately $1,118,103.33. This trade represents a 8.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Zachary Bradford sold 10,533 shares of CleanSpark stock in a transaction on Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $112,071.12. Following the completion of the transaction, the chief executive officer now owns 3,059,326 shares in the company, valued at approximately $32,551,228.64. The trade was a 0.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,836 shares of company stock valued at $335,945. Corporate insiders own 2.65% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CLSK. Needham & Company LLC started coverage on CleanSpark in a research report on Wednesday, February 12th. They set a "buy" rating and a $20.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and set a $27.00 target price on shares of CleanSpark in a report on Friday, February 7th. Keefe, Bruyette & Woods initiated coverage on shares of CleanSpark in a research note on Monday, January 27th. They issued an "outperform" rating and a $19.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of CleanSpark from $17.00 to $12.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Chardan Capital upgraded CleanSpark to a "strong-buy" rating in a research report on Monday, March 24th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $21.57.

CleanSpark Trading Up 3.2 %

Shares of CleanSpark stock traded up $0.23 on Friday, hitting $7.51. 21,198,441 shares of the company traded hands, compared to its average volume of 28,426,747. CleanSpark, Inc. has a 12-month low of $6.45 and a 12-month high of $21.39. The company has a market cap of $2.11 billion, a P/E ratio of 68.28 and a beta of 4.12. The firm's 50-day simple moving average is $8.15 and its 200 day simple moving average is $10.49.

CleanSpark (NASDAQ:CLSK - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share 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%. Analysts predict that CleanSpark, Inc. will post 0.58 earnings per share 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.