SBI Securities Co. Ltd. Acquires Shares of 146,460 CleanSpark, Inc. (NASDAQ:CLSK)

SBI Securities Co. Ltd. bought a new stake in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 146,460 shares of the company's stock, valued at approximately $1,349,000. SBI Securities Co. Ltd. owned about 0.05% of CleanSpark at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CLSK. Geode Capital Management LLC grew its position in shares of CleanSpark by 9.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company's stock valued at $57,577,000 after acquiring an additional 549,187 shares during the period. State Street Corp lifted its position in CleanSpark by 4.5% during the third quarter. State Street Corp now owns 6,073,912 shares of the company's stock valued at $56,730,000 after purchasing an additional 261,195 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in CleanSpark during the fourth quarter valued at about $39,940,000. Van ECK Associates Corp grew its holdings in CleanSpark by 40.0% during the fourth quarter. Van ECK Associates Corp now owns 2,227,199 shares of the company's stock valued at $20,513,000 after purchasing an additional 636,511 shares during the period. Finally, Charles Schwab Investment Management Inc. increased 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 worth $20,500,000 after buying an additional 208,862 shares in the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

CleanSpark Price Performance

Shares of NASDAQ CLSK traded down $0.20 during midday trading on Monday, reaching $7.79. 35,119,445 shares of the stock traded hands, compared to its average volume of 29,826,963. The company's 50 day moving average is $10.26 and its 200 day moving average is $11.10. CleanSpark, Inc. has a one year low of $7.36 and a one year high of $24.72. The stock has a market capitalization of $2.19 billion, a PE ratio of 70.82 and a beta of 4.24.

CleanSpark (NASDAQ:CLSK - Get Free Report) last released its quarterly 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 net margin of 16.07% and a negative return on equity of 2.61%. As a group, equities analysts forecast that CleanSpark, Inc. will post 0.58 EPS for the current year.

Analysts Set New Price Targets

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

Insider Activity

In other CleanSpark news, Chairman S. Matthew Schultz sold 9,010 shares of the business's 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 $95,866.40. Following the sale, the chairman now directly owns 2,450,010 shares of the company's stock, valued at $26,068,106.40. The trade was a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Zachary Bradford sold 10,533 shares of the company'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 $112,071.12. Following the sale, the chief executive officer now owns 3,059,326 shares in the company, valued at approximately $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. In the last three months, insiders have sold 23,186 shares of company stock worth $246,375. 2.65% of the stock is currently owned by corporate insiders.

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.