CleanSpark, Inc. (NASDAQ:CLSK) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp raised its holdings in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 40.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,227,199 shares of the company's stock after buying an additional 636,511 shares during the quarter. Van ECK Associates Corp owned about 0.76% of CleanSpark worth $20,513,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CLSK. Assenagon Asset Management S.A. acquired a new position in shares of CleanSpark during the fourth quarter valued at about $39,940,000. Geode Capital Management LLC increased its stake in 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 purchasing an additional 549,187 shares in the last quarter. Barclays PLC raised its holdings in shares of CleanSpark by 364.0% in the third quarter. Barclays PLC now owns 389,201 shares of the company's stock worth $3,634,000 after buying an additional 305,316 shares during the last quarter. State Street Corp lifted its stake in shares of CleanSpark by 4.5% during the third quarter. State Street Corp now owns 6,073,912 shares of the company's stock worth $56,730,000 after buying an additional 261,195 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of CleanSpark during the third quarter valued at $1,960,000. Institutional investors and hedge funds own 43.12% of the company's stock.

Insider Activity

In other news, Chairman S. Matthew Schultz sold 9,010 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 $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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Zachary Bradford sold 10,533 shares of CleanSpark stock in a transaction on 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 $32,551,228.64. This represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,536 shares of company stock worth $265,748 in the last ninety days. Company insiders own 2.65% of the company's stock.

Wall Street Analyst Weigh In

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

CleanSpark Stock Down 4.1 %

Shares of NASDAQ CLSK traded down $0.44 during midday trading on Tuesday, reaching $10.07. 12,445,526 shares of the stock were exchanged, compared to its average volume of 23,420,875. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 91.69 and a beta of 4.24. The firm has a 50-day simple moving average of $10.83 and a two-hundred day simple moving average of $11.28. CleanSpark, Inc. has a twelve month low of $8.04 and a twelve month high of $24.72.

CleanSpark (NASDAQ:CLSK - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.81%. Research analysts expect that CleanSpark, Inc. will post 0.29 EPS for the current fiscal year.

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.