CleanSpark, Inc. (NASDAQ:CLSK) Holdings Raised by Magnetar Financial LLC

Magnetar Financial LLC raised its position in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 16.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 412,292 shares of the company's stock after buying an additional 57,116 shares during the period. Magnetar Financial LLC owned approximately 0.15% of CleanSpark worth $3,797,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in CleanSpark by 9.8% in the third quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company's stock valued at $57,577,000 after purchasing an additional 549,187 shares during the last quarter. State Street Corp boosted its stake in shares of CleanSpark by 4.5% during the 3rd quarter. State Street Corp now owns 6,073,912 shares of the company's stock valued at $56,730,000 after buying an additional 261,195 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of CleanSpark during the fourth quarter worth approximately $39,940,000. Charles Schwab Investment Management Inc. increased its stake in shares of CleanSpark by 12.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,464,861 shares of the company's stock worth $22,701,000 after buying an additional 270,026 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in CleanSpark by 40.0% in the fourth quarter. Van ECK Associates Corp now owns 2,227,199 shares of the company's stock valued at $20,513,000 after acquiring an additional 636,511 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other CleanSpark news, Director Amanda Cavaleri sold 13,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $7.97, for a total value of $103,610.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Zachary Bradford sold 10,533 shares of CleanSpark stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $112,071.12. Following the sale, the chief executive officer now directly owns 3,059,326 shares in the company, valued at approximately $32,551,228.64. This trade represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,186 shares of company stock valued at $349,985. 2.65% of the stock is currently owned by company insiders.

CleanSpark Stock Down 0.7 %

CLSK stock traded down $0.06 during midday trading on Tuesday, reaching $8.73. The company had a trading volume of 25,786,474 shares, compared to its average volume of 28,968,063. The firm has a market capitalization of $2.45 billion, a PE ratio of 79.37 and a beta of 4.20. The stock has a 50 day moving average price of $9.58 and a 200 day moving average price of $10.76. 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 (EPS) 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%. Research analysts predict that CleanSpark, Inc. will post 0.58 EPS for the current year.

Wall Street Analysts Forecast Growth

CLSK has been the subject of several recent analyst reports. HC Wainwright reissued a "buy" rating and set a $27.00 price objective on shares of CleanSpark in a report on Friday, February 7th. Needham & Company LLC initiated coverage on CleanSpark in a research note on Wednesday, February 12th. They issued a "buy" rating and a $20.00 price target for the company. JPMorgan Chase & Co. cut their price objective on CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Macquarie increased their target price on CleanSpark from $20.00 to $24.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods assumed coverage on CleanSpark in a report on Monday, January 27th. They issued an "outperform" rating and a $19.00 price target for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $21.57.

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.