CleanSpark, Inc. (NASDAQ:CLSK) Director Sells $103,610.00 in Stock

CleanSpark, Inc. (NASDAQ:CLSK) Director Amanda Cavaleri sold 13,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $7.97, for a total value of $103,610.00. Following the transaction, the director now owns 140,289 shares in the company, valued at approximately $1,118,103.33. This trade represents a 8.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

CleanSpark Price Performance

Shares of CleanSpark stock opened at $8.79 on Tuesday. The firm has a fifty day moving average price of $9.58 and a two-hundred day moving average price of $10.76. CleanSpark, Inc. has a fifty-two week low of $7.22 and a fifty-two week high of $24.72. The company has a market cap of $2.47 billion, a PE ratio of 79.92 and a beta of 4.20.

CleanSpark (NASDAQ:CLSK) last released its 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 negative return on equity of 2.61% and a net margin of 16.07%. Analysts expect that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CLSK. Keefe, Bruyette & Woods initiated coverage on CleanSpark in a report on Monday, January 27th. They issued an “outperform” rating and a $19.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a research note on Friday, February 7th. Needham & Company LLC initiated coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They issued a “buy” rating and a $20.00 target price on the stock. Macquarie boosted their target price on shares of CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. decreased 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. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, CleanSpark currently has an average rating of “Buy” and a consensus price target of $21.57.

Institutional Trading of CleanSpark

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of CleanSpark by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 19,655,746 shares of the company’s stock valued at $181,029,000 after purchasing an additional 495,367 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of CleanSpark by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 6,517,268 shares of the company’s stock valued at $60,037,000 after buying an additional 353,807 shares in the last quarter. State Street Corp raised its stake in shares of CleanSpark by 4.5% in the 3rd quarter. State Street Corp now owns 6,073,912 shares of the company’s stock valued at $56,730,000 after buying an additional 261,195 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of CleanSpark during the 4th quarter worth about $39,940,000. Finally, Invesco Ltd. boosted its position in shares of CleanSpark by 44.2% during the 4th quarter. Invesco Ltd. now owns 2,984,362 shares of the company’s stock valued at $27,486,000 after acquiring an additional 914,279 shares in the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

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.