Vanguard Group Inc. Purchases 495,367 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Vanguard Group Inc. lifted its holdings in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,655,746 shares of the company's stock after buying an additional 495,367 shares during the quarter. Vanguard Group Inc. owned about 7.00% of CleanSpark worth $181,029,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its stake in shares of CleanSpark by 5.0% in the third quarter. FMR LLC now owns 24,729 shares of the company's stock worth $231,000 after acquiring an additional 1,170 shares during the last quarter. Sigma Planning Corp lifted its holdings in CleanSpark by 11.9% during the 4th quarter. Sigma Planning Corp now owns 17,518 shares of the company's stock worth $161,000 after buying an additional 1,865 shares in the last quarter. KBC Group NV lifted its holdings in CleanSpark by 36.5% during the 4th quarter. KBC Group NV now owns 10,103 shares of the company's stock worth $93,000 after buying an additional 2,700 shares in the last quarter. Xponance Inc. boosted its position in CleanSpark by 19.2% in the 4th quarter. Xponance Inc. now owns 17,901 shares of the company's stock valued at $165,000 after buying an additional 2,886 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA acquired a new stake in shares of CleanSpark in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 43.12% of the company's stock.

Insiders Place Their Bets

In other news, CEO Zachary Bradford sold 10,533 shares of CleanSpark stock in a transaction dated 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. The trade was a 0.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman S. Matthew Schultz sold 9,010 shares of the business'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 completion of the transaction, the chairman now owns 2,450,010 shares of the company's stock, valued at $26,068,106.40. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,836 shares of company stock worth $335,945. Corporate insiders own 2.65% of the company's stock.

CleanSpark Stock Up 5.2 %

CleanSpark stock traded up $0.37 during midday trading on Friday, hitting $7.50. 19,651,092 shares of the stock were exchanged, compared to its average volume of 28,644,423. The stock has a market capitalization of $2.11 billion, a PE ratio of 68.19 and a beta of 4.12. The company has a fifty day simple moving average of $8.48 and a two-hundred day simple moving average of $10.56. CleanSpark, Inc. has a 52 week low of $6.45 and a 52 week high of $21.39.

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, 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 2.61%. As a group, equities research analysts anticipate that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CLSK. Keefe, Bruyette & Woods initiated coverage on CleanSpark in a research note on Monday, January 27th. They set an "outperform" rating and a $19.00 price target on the stock. Needham & Company LLC initiated coverage on shares of CleanSpark in a research report on Wednesday, February 12th. They set a "buy" rating and a $20.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on shares of CleanSpark from $17.00 to $12.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. HC Wainwright reissued a "buy" rating and set a $27.00 price target on shares of CleanSpark in a research note on Friday, February 7th. Finally, Chardan Capital raised shares of CleanSpark to a "strong-buy" rating in a research note on Monday, March 24th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $21.57.

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.