Insider Selling: CleanSpark, Inc. (NASDAQ:CLSK) CTO Sells 1,350 Shares of Stock

CleanSpark, Inc. (NASDAQ:CLSK) CTO Taylor Monnig sold 1,350 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $14.35, for a total transaction of $19,372.50. Following the sale, the chief technology officer now owns 202,870 shares of the company’s stock, valued at approximately $2,911,184.50. This represents a 0.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Taylor Monnig also recently made the following trade(s):

• On Friday, October 25th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The stock was sold at an average price of $11.88, for a total transaction of $16,038.00.
• On Friday, September 27th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The stock was sold at an average price of $10.44, for a total transaction of $14,094.00.

CleanSpark Price Performance

CLSK stock traded up $0.49 during mid-day trading on Friday, hitting $14.35. The stock had a trading volume of 28,952,510 shares, compared to its average volume of 31,002,104. CleanSpark, Inc. has a 52 week low of $5.73 and a 52 week high of $24.72. The firm has a fifty day simple moving average of $11.86 and a 200 day simple moving average of $13.58.

Institutional Investors Weigh In On CleanSpark

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quest Partners LLC bought a new stake in shares of CleanSpark during the 3rd quarter valued at approximately $374,000. Clarity Capital Partners LLC grew its holdings in shares of CleanSpark by 100.8% during the 3rd quarter. Clarity Capital Partners LLC now owns 175,056 shares of the company’s stock valued at $1,635,000 after purchasing an additional 87,891 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of CleanSpark during the 3rd quarter valued at approximately $1,960,000. SRN Advisors LLC grew its holdings in shares of CleanSpark by 65.3% during the 3rd quarter. SRN Advisors LLC now owns 261,427 shares of the company’s stock valued at $2,442,000 after purchasing an additional 103,283 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in CleanSpark by 74.6% during the 2nd quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock worth $19,958,000 after acquiring an additional 534,825 shares during the last quarter. 43.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on CLSK shares. Macquarie started coverage on shares of CleanSpark in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $20.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a research note on Thursday, October 3rd. JPMorgan Chase & Co. dropped their price objective on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a research note on Friday, August 23rd. Finally, HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.42.

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.