CleanSpark, Inc. (NASDAQ:CLSK) Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lifted its holdings in CleanSpark, Inc. (NASDAQ:CLSK) by 16.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 53,860 shares of the company’s stock after buying an additional 7,537 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in CleanSpark were worth $362,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Compagnie Lombard Odier SCmA acquired a new stake in shares of CleanSpark in the fourth quarter worth $31,000. Russell Investments Group Ltd. increased its position in shares of CleanSpark by 60.0% in the fourth quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company’s stock worth $54,000 after acquiring an additional 2,196 shares in the last quarter. KBC Group NV increased its position in shares of CleanSpark by 36.5% in the fourth quarter. KBC Group NV now owns 10,103 shares of the company’s stock worth $93,000 after acquiring an additional 2,700 shares in the last quarter. Farringdon Capital Ltd. acquired a new stake in shares of CleanSpark in the fourth quarter worth $105,000. Finally, Haven Private LLC acquired a new stake in shares of CleanSpark in the fourth quarter worth $108,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

Insider Buying and Selling at CleanSpark

In other CleanSpark news, Director Roger Paul Beynon sold 50,000 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $10.51, for a total transaction of $525,500.00. Following the transaction, the director now directly owns 125,511 shares in the company, valued at $1,319,120.61. This represents a 28.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 owns 140,289 shares in the company, valued at $1,118,103.33. This trade represents a 8.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.65% of the stock is currently owned by insiders.

CleanSpark Trading Up 8.5%

CLSK opened at $9.79 on Monday. The company has a fifty day simple moving average of $8.56 and a 200 day simple moving average of $9.75. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 89.01 and a beta of 4.23. CleanSpark, Inc. has a twelve month low of $6.45 and a twelve month high of $20.64.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. The firm had revenue of $181.71 million for the quarter, compared to analyst estimates of $196.43 million. During the same period in the previous year, the business posted $0.59 earnings per share. CleanSpark’s revenue for the quarter was up 62.5% on a year-over-year basis. On average, analysts forecast that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC assumed coverage on shares of CleanSpark in a research report on Wednesday, February 12th. They issued a “buy” rating and a $20.00 price objective for the company. 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 report on Thursday, March 13th. Finally, Chardan Capital assumed coverage on shares of CleanSpark in a report on Wednesday, May 21st. They set a “buy” rating and a $20.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $20.71.

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.