SRN Advisors LLC Decreases Position in CleanSpark, Inc. (NASDAQ:CLSK)

SRN Advisors LLC reduced its stake in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 51.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 126,427 shares of the company's stock after selling 135,000 shares during the quarter. SRN Advisors LLC's holdings in CleanSpark were worth $1,164,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Quest Partners LLC bought a new stake in CleanSpark during the third quarter valued at about $374,000. Kovitz Investment Group Partners LLC lifted its position in shares of 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 acquiring an additional 85,388 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 acquiring an additional 208,862 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of CleanSpark in the third quarter valued at about $1,960,000. Finally, Clarity Capital Partners LLC lifted its position in shares of 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 acquiring an additional 87,891 shares in the last quarter. 43.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. HC Wainwright restated a "buy" rating and issued a $27.00 price objective on shares of CleanSpark in a research report on Friday, February 7th. Keefe, Bruyette & Woods assumed coverage on CleanSpark in a research report on Monday, January 27th. They issued an "outperform" rating and a $19.00 price objective on the stock. Macquarie boosted their price objective on CleanSpark from $20.00 to $24.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Needham & Company LLC began 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. Finally, JPMorgan Chase & Co. upgraded CleanSpark from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $10.50 to $17.00 in a research report on Tuesday, December 10th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, CleanSpark currently has a consensus rating of "Buy" and an average target price of $22.25.

Insider Buying and Selling at CleanSpark

In other news, CEO Zachary Bradford sold 10,533 shares of the company'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 $112,071.12. Following the transaction, the chief executive officer now owns 3,059,326 shares of the company's stock, 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 filing with the SEC, which can be accessed through this link. Also, Chairman S. Matthew Schultz sold 9,010 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 $95,866.40. Following the transaction, the chairman now directly owns 2,450,010 shares in the company, valued at approximately $26,068,106.40. This represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,186 shares of company stock worth $246,375 over the last ninety days. Company insiders own 2.65% of the company's stock.

CleanSpark Trading Up 6.4 %

Shares of NASDAQ:CLSK traded up $0.48 during mid-day trading on Friday, reaching $7.99. The stock had a trading volume of 26,289,738 shares, compared to its average volume of 23,462,604. CleanSpark, Inc. has a 1 year low of $7.36 and a 1 year high of $24.72. The business's 50 day moving average price is $10.26 and its 200 day moving average price is $11.10. The company has a market cap of $2.24 billion, a P/E ratio of 72.64 and a beta of 4.24.

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 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%. Analysts predict that CleanSpark, Inc. will post 0.58 earnings per share 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.