Insider Selling: CleanSpark, Inc. (NASDAQ:CLSK) CTO Sells $14,040.00 in Stock

CleanSpark, Inc. (NASDAQ:CLSK) CTO Taylor Monnig sold 1,350 shares of CleanSpark stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $10.40, for a total transaction of $14,040.00. Following the sale, the chief technology officer now directly owns 201,520 shares in the company, valued at $2,095,808. The trade was a 0.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Friday, November 29th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The stock was sold at an average price of $14.35, for a total transaction of $19,372.50.
• 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 value of $16,038.00.

CleanSpark Trading Down 5.6 %

NASDAQ CLSK opened at $9.78 on Monday. CleanSpark, Inc. has a 12 month low of $6.41 and a 12 month high of $24.72. The stock’s fifty day moving average price is $12.84 and its 200-day moving average price is $12.91. The stock has a market cap of $2.86 billion, a P/E ratio of -16.86 and a beta of 4.16.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CLSK. JPMorgan Chase & Co. upgraded CleanSpark from a “neutral” rating to an “overweight” rating and raised their target price for the company from $10.50 to $17.00 in a research note on Tuesday, December 10th. Macquarie boosted their target price on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research report on Tuesday, December 3rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a research report on Thursday, October 3rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $23.17.

Institutional Trading of CleanSpark

Several institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of CleanSpark by 32.8% in the second quarter. Bank of New York Mellon Corp now owns 871,793 shares of the company’s stock worth $13,905,000 after buying an additional 215,124 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in CleanSpark by 13.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,617 shares of the company’s stock worth $712,000 after acquiring an additional 5,347 shares during the last quarter. Principal Financial Group Inc. lifted its position in CleanSpark by 33.0% in the 2nd quarter. Principal Financial Group Inc. now owns 29,937 shares of the company’s stock valued at $477,000 after acquiring an additional 7,426 shares in the last quarter. United Capital Management of KS Inc. boosted its stake in CleanSpark by 48.7% during the 2nd quarter. United Capital Management of KS Inc. now owns 22,949 shares of the company’s stock valued at $366,000 after purchasing an additional 7,511 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in CleanSpark by 21.5% during the 2nd quarter. Van ECK Associates Corp now owns 969,896 shares of the company’s stock valued at $15,470,000 after purchasing an additional 171,627 shares during the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

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.