Quantbot Technologies LP Sells 76,333 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Quantbot Technologies LP reduced its position in CleanSpark, Inc. (NASDAQ:CLSK) by 36.4% in the 4th quarter, Holdings Channel reports. The firm owned 133,501 shares of the company’s stock after selling 76,333 shares during the quarter. Quantbot Technologies LP’s holdings in CleanSpark were worth $1,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

CleanSpark Trading Down 0.7 %

Shares of NASDAQ CLSK opened at $8.73 on Wednesday. CleanSpark, Inc. has a 1 year low of $7.22 and a 1 year high of $24.72. The firm’s 50-day moving average is $9.55 and its 200-day moving average is $10.77. The firm has a market capitalization of $2.45 billion, a PE ratio of 79.37 and a beta of 4.20.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share for the quarter, beating 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, equities research analysts anticipate that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Amanda Cavaleri sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $7.97, for a total value of $103,610.00. Following the completion of the transaction, the director now directly owns 140,289 shares in the company, valued at approximately $1,118,103.33. The trade was a 8.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Zachary Bradford sold 10,533 shares of CleanSpark stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $10.64, for a total transaction 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 approximately $32,551,228.64. The trade was a 0.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,186 shares of company stock valued at $349,985 in the last 90 days. 2.65% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CLSK. Needham & Company LLC initiated coverage on CleanSpark in a report on Wednesday, February 12th. They set a “buy” rating and a $20.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a report on Friday, February 7th. Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a report on Monday, January 27th. They set an “outperform” rating and a $19.00 price objective on the stock. Macquarie raised their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. reduced their target price on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CleanSpark currently has a consensus rating of “Buy” and an average target price of $21.57.

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.