CleanSpark, Inc. (NASDAQ:CLSK) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers grew its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 10.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 334,094 shares of the company's stock after acquiring an additional 32,236 shares during the quarter. Rhumbline Advisers owned about 0.11% of CleanSpark worth $3,077,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CLSK. Quest Partners LLC purchased a new stake in CleanSpark in the third quarter valued at approximately $374,000. Kovitz Investment Group Partners LLC boosted its position in CleanSpark by 85.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 184,950 shares of the company's stock valued at $1,727,000 after buying an additional 85,388 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in CleanSpark by 10.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company's stock valued at $20,500,000 after buying an additional 208,862 shares during the last quarter. Quantbot Technologies LP purchased a new stake in CleanSpark in the third quarter valued at approximately $1,960,000. Finally, Clarity Capital Partners LLC boosted its position in CleanSpark by 100.8% in the third quarter. Clarity Capital Partners LLC now owns 175,056 shares of the company's stock valued at $1,635,000 after buying an additional 87,891 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company's stock.

Insider Activity

In other news, CEO Zachary Bradford sold 10,533 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 3,059,326 shares in the company, valued at $32,551,228.64. This trade represents a 0.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman S. Matthew Schultz sold 9,010 shares of the 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 transaction, the chairman now owns 2,450,010 shares in the company, valued at $26,068,106.40. This trade represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,186 shares of company stock worth $246,375 in the last quarter. Corporate insiders own 2.65% of the company's stock.

CleanSpark Trading Down 2.5 %

CleanSpark stock traded down $0.20 during mid-day trading on Monday, hitting $7.79. The company had a trading volume of 35,119,445 shares, compared to its average volume of 29,827,006. CleanSpark, Inc. has a 12-month low of $7.36 and a 12-month high of $24.72. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 70.82 and a beta of 4.24. The company's fifty day moving average is $10.26 and its 200-day moving average is $11.10.

CleanSpark (NASDAQ:CLSK - Get Free Report) last announced its earnings results 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%. As a group, sell-side analysts expect that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CLSK has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded CleanSpark from a "neutral" rating to an "overweight" rating and upped their target price for the company from $10.50 to $17.00 in a research report on Tuesday, December 10th. Needham & Company LLC initiated coverage on CleanSpark in a research report on Wednesday, February 12th. They issued a "buy" rating and a $20.00 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $27.00 target price on shares of CleanSpark in a research report on Friday, February 7th. Keefe, Bruyette & Woods initiated coverage on CleanSpark in a research report on Monday, January 27th. They issued an "outperform" rating and a $19.00 target price on the stock. Finally, Macquarie upped their price objective on CleanSpark from $20.00 to $24.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $22.25.

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.