Quantbot Technologies LP Cuts Position in CleanSpark, Inc. (NASDAQ:CLSK)

Quantbot Technologies LP lowered its position in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 36.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm 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 SEC filing.

Several other large investors have also recently bought and sold shares of the company. Compagnie Lombard Odier SCmA bought a new stake in CleanSpark in the fourth quarter valued at approximately $31,000. GAMMA Investing LLC boosted its position in CleanSpark by 962.1% in the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock valued at $36,000 after buying an additional 3,579 shares in the last quarter. KBC Group NV grew its holdings in shares of CleanSpark by 36.5% during the fourth quarter. KBC Group NV now owns 10,103 shares of the company's stock worth $93,000 after purchasing an additional 2,700 shares during the last quarter. R Squared Ltd acquired a new stake in CleanSpark in the fourth quarter valued at $101,000. Finally, Haven Private LLC acquired a new position in shares of CleanSpark in the fourth quarter worth approximately $108,000. Institutional investors own 43.12% of the company's stock.

CleanSpark Price Performance

Shares of CLSK traded down $0.77 during mid-day trading on Friday, hitting $7.09. The stock had a trading volume of 17,138,267 shares, compared to its average volume of 28,833,885. CleanSpark, Inc. has a 52 week low of $7.03 and a 52 week high of $24.10. The business has a fifty day moving average price of $9.42 and a 200-day moving average price of $10.73. The firm has a market cap of $1.99 billion, a P/E ratio of 64.14 and a beta of 4.20.

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

Insider Activity at CleanSpark

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

Analyst Upgrades and Downgrades

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