Vanguard Group Inc. Boosts Position in CleanSpark, Inc. (NASDAQ:CLSK)

Vanguard Group Inc. grew its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,655,746 shares of the company’s stock after buying an additional 495,367 shares during the quarter. Vanguard Group Inc. owned 0.07% of CleanSpark worth $181,029,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Kovitz Investment Group Partners LLC boosted its position in CleanSpark by 85.8% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 184,950 shares of the company’s stock worth $1,727,000 after purchasing an additional 85,388 shares during the period. Barclays PLC boosted its position 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 period. Virtu Financial LLC acquired a new stake in shares of CleanSpark in the fourth quarter valued at about $338,000. Arete Wealth Advisors LLC purchased a new stake in shares of CleanSpark during the 3rd quarter valued at about $903,000. Finally, Assenagon Asset Management S.A. purchased a new position in CleanSpark in the 4th quarter worth approximately $39,940,000. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

CleanSpark Stock Performance

Shares of CLSK stock opened at $7.32 on Monday. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 66.55 and a beta of 4.12. CleanSpark, Inc. has a one year low of $6.50 and a one year high of $21.39. The company’s 50-day simple moving average is $8.93 and its 200-day simple moving average is $10.67.

CleanSpark (NASDAQ:CLSK) last released its earnings results on Thursday, February 6th. The company reported ($0.07) EPS for the quarter, topping 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%. As a group, research analysts forecast that CleanSpark, Inc. will post 0.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CLSK shares. Chardan Capital upgraded shares of CleanSpark to a “strong-buy” rating in a research note on Monday, March 24th. JPMorgan Chase & Co. cut their price objective on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Needham & Company LLC initiated coverage on CleanSpark in a research note on Wednesday, February 12th. They set a “buy” rating and a $20.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods began coverage on CleanSpark in a research note on Monday, January 27th. They set an “outperform” rating and a $19.00 price objective for the company. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, CleanSpark has a consensus rating of “Buy” and an average price target of $21.57.

Insider Buying and Selling

In other CleanSpark news, CEO Zachary Bradford sold 10,533 shares of CleanSpark stock in a transaction that occurred on Friday, February 14th. The stock was 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 directly owns 3,059,326 shares in the company, valued at $32,551,228.64. The trade was a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 of the company’s stock, valued at $26,068,106.40. This trade represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,836 shares of company stock worth $335,945 over the last ninety days. 2.65% of the stock is owned by insiders.

CleanSpark Company 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.