KLP Kapitalforvaltning AS Makes New Investment in CleanSpark, Inc. (NASDAQ:CLSK)

KLP Kapitalforvaltning AS bought a new position in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 53,900 shares of the company's stock, valued at approximately $496,000.

Several other large investors have also recently bought and sold shares of the company. FMR LLC raised its position 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 buying an additional 1,170 shares in the last quarter. Sigma Planning Corp increased its stake in CleanSpark by 11.9% in the 4th quarter. Sigma Planning Corp now owns 17,518 shares of the company's stock worth $161,000 after acquiring an additional 1,865 shares during the last quarter. KBC Group NV raised its holdings in shares of CleanSpark by 36.5% in the 4th quarter. KBC Group NV now owns 10,103 shares of the company's stock valued at $93,000 after acquiring an additional 2,700 shares in the last quarter. Xponance Inc. boosted its position in shares of CleanSpark by 19.2% during the 4th quarter. Xponance Inc. now owns 17,901 shares of the company's stock valued at $165,000 after acquiring an additional 2,886 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of CleanSpark in the fourth quarter worth approximately $31,000. 43.12% of the stock is owned by institutional investors.

Insider Activity at CleanSpark

In other CleanSpark news, CEO Zachary Bradford sold 10,533 shares of the firm's 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 of the company's stock, valued at approximately $32,551,228.64. This trade represents a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 transaction of $103,610.00. Following the completion of the sale, the director now directly owns 140,289 shares in the company, valued at $1,118,103.33. This represents a 8.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,836 shares of company stock worth $335,945 over the last 90 days. 2.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

CLSK has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their target price 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. HC Wainwright reaffirmed a "buy" rating and set a $27.00 price objective on shares of CleanSpark in a report on Friday, February 7th. Keefe, Bruyette & Woods started coverage on CleanSpark in a research note on Monday, January 27th. They issued an "outperform" rating and a $19.00 target price on the stock. Chardan Capital raised CleanSpark to a "strong-buy" rating in a research note on Monday, March 24th. Finally, Needham & Company LLC assumed coverage on CleanSpark in a research report on Wednesday, February 12th. They set a "buy" rating and a $20.00 price objective on the stock. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $21.57.

CleanSpark Trading Down 9.3 %

Shares of NASDAQ:CLSK traded down $0.69 on Tuesday, reaching $6.74. 23,197,527 shares of the company traded hands, compared to its average volume of 28,663,933. The stock has a market capitalization of $1.89 billion, a P/E ratio of 61.28 and a beta of 4.12. CleanSpark, Inc. has a 52 week low of $6.45 and a 52 week high of $21.39. The business's 50-day simple moving average is $8.74 and its 200 day simple moving average is $10.62.

CleanSpark (NASDAQ:CLSK - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) 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 2.61%. Sell-side analysts expect that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

CleanSpark Company Profile

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.