Alliancebernstein L.P. Buys 2,955 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Alliancebernstein L.P. boosted its position in CleanSpark, Inc. (NASDAQ:CLSK) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 285,305 shares of the company’s stock after buying an additional 2,955 shares during the quarter. Alliancebernstein L.P.’s holdings in CleanSpark were worth $2,628,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Highbridge Capital Management LLC bought a new position in CleanSpark in the 4th quarter valued at approximately $481,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in CleanSpark by 89.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 19,342 shares of the company’s stock valued at $178,000 after purchasing an additional 9,117 shares during the last quarter. Prudential Financial Inc. lifted its stake in CleanSpark by 9.1% during the 4th quarter. Prudential Financial Inc. now owns 16,835 shares of the company’s stock valued at $155,000 after acquiring an additional 1,405 shares in the last quarter. Corebridge Financial Inc. increased its stake in CleanSpark by 1.2% in the 4th quarter. Corebridge Financial Inc. now owns 123,723 shares of the company’s stock valued at $1,139,000 after buying an additional 1,507 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP purchased a new stake in shares of CleanSpark during the 4th quarter valued at $426,000. 43.12% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CleanSpark

In related news, Director Amanda Cavaleri sold 13,000 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $7.97, for a total transaction of $103,610.00. Following the completion of the sale, the director now directly owns 140,289 shares in the company, valued at $1,118,103.33. This represents a 8.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Zachary Bradford sold 10,533 shares of the business’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 trade represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,836 shares of company stock valued at $335,945. 2.65% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods assumed coverage on CleanSpark in a research note on Monday, January 27th. They set an “outperform” rating and a $19.00 price target for the company. JPMorgan Chase & Co. dropped their target price on CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. 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 target for the company. Chardan Capital upgraded CleanSpark to a “strong-buy” rating in a report on Monday, March 24th. Finally, 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. 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.com, the company presently has a consensus rating of “Buy” and an average price target of $21.57.

CleanSpark Trading Down 6.4 %

NASDAQ CLSK opened at $7.28 on Wednesday. The stock’s 50 day moving average is $8.36 and its 200 day moving average is $10.52. CleanSpark, Inc. has a 12 month low of $6.45 and a 12 month high of $21.39. The stock has a market cap of $2.04 billion, a PE ratio of 66.19 and a beta of 4.12.

CleanSpark (NASDAQ:CLSK) last released its earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping 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, analysts forecast that CleanSpark, Inc. will post 0.58 EPS 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.