Marshall Wace LLP Acquires 377,400 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Marshall Wace LLP grew its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 265.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 519,401 shares of the company's stock after buying an additional 377,400 shares during the period. Marshall Wace LLP owned 0.18% of CleanSpark worth $4,784,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prudential Financial Inc. increased its holdings in shares of CleanSpark by 9.1% during the fourth quarter. Prudential Financial Inc. now owns 16,835 shares of the company's stock valued at $155,000 after purchasing an additional 1,405 shares during the period. Corebridge Financial Inc. increased its stake in CleanSpark by 1.2% during the 4th quarter. Corebridge Financial Inc. now owns 123,723 shares of the company's stock valued at $1,139,000 after buying an additional 1,507 shares during the period. Sigma Planning Corp raised its position in shares of CleanSpark by 11.9% during the 4th quarter. Sigma Planning Corp now owns 17,518 shares of the company's stock worth $161,000 after buying an additional 1,865 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of CleanSpark by 60.0% in the 4th quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company's stock worth $54,000 after acquiring an additional 2,196 shares during the period. Finally, KBC Group NV boosted its holdings in shares of CleanSpark by 36.5% in the fourth 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. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Chardan Capital upgraded CleanSpark to a "strong-buy" rating in a research report on Monday, March 24th. Needham & Company LLC assumed coverage on CleanSpark in a report on Wednesday, February 12th. They set a "buy" rating and a $20.00 target price on the stock. HC Wainwright restated a "buy" rating and set a $27.00 price objective on shares of CleanSpark in a research report on Friday, February 7th. Keefe, Bruyette & Woods assumed coverage on shares of CleanSpark in a research note on Monday, January 27th. They set an "outperform" rating and a $19.00 target price for the company. Finally, JPMorgan Chase & Co. cut their price objective on CleanSpark from $17.00 to $12.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $21.57.

Insider Activity at CleanSpark

In other CleanSpark news, Director Amanda Cavaleri sold 13,000 shares of the business'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 of the company's stock, valued at $1,118,103.33. The trade was a 8.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman S. Matthew Schultz sold 9,010 shares of the firm's 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 $95,866.40. Following the completion of the transaction, the chairman now directly owns 2,450,010 shares in the company, valued at $26,068,106.40. The trade was a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,836 shares of company stock valued at $335,945. Insiders own 2.65% of the company's stock.

CleanSpark Stock Performance

Shares of CLSK stock traded up $0.02 during trading on Tuesday, hitting $8.59. 14,784,516 shares of the company were exchanged, compared to its average volume of 24,733,918. The business's 50-day simple moving average is $7.94 and its 200 day simple moving average is $10.48. CleanSpark, Inc. has a twelve month low of $6.45 and a twelve month high of $20.64. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 78.13 and a beta of 4.12.

CleanSpark (NASDAQ:CLSK - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. On average, equities analysts forecast that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal 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.