CleanSpark, Inc. (NASDAQ:CLSK) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP decreased its position in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 36.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 133,501 shares of the company's stock after selling 76,333 shares during the quarter. Quantbot Technologies LP's holdings in CleanSpark were worth $1,230,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new stake in shares of CleanSpark in the fourth quarter valued at about $39,940,000. Van ECK Associates Corp raised its stake in CleanSpark by 40.0% during the 4th 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 during the last quarter. Geode Capital Management LLC lifted its position in CleanSpark by 9.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company's stock worth $57,577,000 after acquiring an additional 549,187 shares during the period. Barclays PLC grew its stake in shares of CleanSpark by 364.0% in the 3rd quarter. Barclays PLC now owns 389,201 shares of the company's stock valued at $3,634,000 after purchasing an additional 305,316 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 valued at $22,701,000 after purchasing an additional 270,026 shares during the period. Institutional investors and hedge funds own 43.12% of the company's stock.

Analyst Ratings Changes

CLSK has been the subject of a number of analyst reports. Needham & Company LLC assumed coverage on shares of CleanSpark in a research report on Wednesday, February 12th. They set a "buy" rating and a $20.00 price objective for the company. Chardan Capital raised CleanSpark to a "strong-buy" rating in a report on Monday, March 24th. Keefe, Bruyette & Woods started coverage on CleanSpark in a research note on Monday, January 27th. They issued an "outperform" rating and a $19.00 price target on the stock. 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. Finally, Macquarie boosted their target price on shares of CleanSpark from $20.00 to $24.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $21.57.

Insider Activity at CleanSpark

In other news, Director Amanda Cavaleri sold 13,000 shares of the company's stock in a transaction on 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Zachary Bradford sold 10,533 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $10.64, for a total value of $112,071.12. Following the completion of the transaction, the chief executive officer now directly owns 3,059,326 shares in the company, valued at $32,551,228.64. This trade represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,836 shares of company stock valued at $335,945. Company insiders own 2.65% of the company's stock.

CleanSpark Price Performance

CLSK traded down $0.65 during midday trading on Friday, reaching $7.19. 26,094,180 shares of the company's stock were exchanged, compared to its average volume of 28,800,754. The business's 50-day moving average price is $9.33 and its 200 day moving average price is $10.72. The stock has a market capitalization of $2.02 billion, a PE ratio of 65.37 and a beta of 4.20. CleanSpark, Inc. has a 1-year low of $7.02 and a 1-year high of $21.39.

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

CleanSpark 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.