Virtu Financial LLC Makes New Investment in CleanSpark, Inc. (NASDAQ:CLSK)

Virtu Financial LLC acquired a new position in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,738 shares of the company's stock, valued at approximately $338,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Compagnie Lombard Odier SCmA bought a new stake in shares of CleanSpark in the 4th quarter valued at $31,000. GAMMA Investing LLC raised its holdings in CleanSpark by 962.1% during the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock worth $36,000 after acquiring an additional 3,579 shares in the last quarter. KBC Group NV boosted its holdings in shares of CleanSpark by 36.5% in the 4th quarter. KBC Group NV now owns 10,103 shares of the company's stock valued at $93,000 after buying an additional 2,700 shares during the last quarter. R Squared Ltd acquired a new stake in CleanSpark in the 4th quarter valued at about $101,000. Finally, Haven Private LLC bought a new position in CleanSpark during the fourth quarter worth $108,000. Institutional investors and hedge funds own 43.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CLSK shares. Macquarie boosted their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Chardan Capital raised CleanSpark to a "strong-buy" rating in a report on Monday, March 24th. Needham & Company LLC assumed coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They issued a "buy" rating and a $20.00 price objective on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $27.00 price objective on shares of CleanSpark in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a research note on Monday, January 27th. They issued an "outperform" rating and a $19.00 price objective for the company. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $21.57.

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CleanSpark Stock Performance

Shares of CLSK traded up $0.84 during mid-day trading on Tuesday, reaching $7.56. The stock had a trading volume of 32,136,360 shares, compared to its average volume of 28,748,970. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 68.73 and a beta of 4.20. The business has a fifty day moving average of $9.16 and a 200 day moving average of $10.70. CleanSpark, Inc. has a 12 month low of $6.59 and a 12 month high of $21.39.

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 the consensus estimate of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. On average, research analysts forecast that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other CleanSpark news, Director Amanda Cavaleri sold 13,000 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $7.97, for a total transaction of $103,610.00. Following the transaction, the director now directly owns 140,289 shares of the company's stock, valued at $1,118,103.33. This trade represents a 8.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Zachary Bradford sold 10,533 shares of the firm'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 completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,836 shares of company stock valued at $335,945. 2.65% of the stock is owned by company 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.