CleanSpark, Inc. (NASDAQ:CLSK) COO Scott Eugene Garrison Sells 1,337 Shares

CleanSpark, Inc. (NASDAQ:CLSK) COO Scott Eugene Garrison sold 1,337 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $10.64, for a total transaction of $14,225.68. Following the completion of the sale, the chief operating officer now directly owns 196,059 shares of the company’s stock, valued at approximately $2,086,067.76. This trade represents a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

CleanSpark Stock Performance

Shares of CLSK opened at $10.50 on Friday. The stock has a market capitalization of $2.95 billion, a P/E ratio of 95.46 and a beta of 4.24. CleanSpark, Inc. has a 1 year low of $8.04 and a 1 year high of $24.72. The company’s fifty day moving average is $10.89 and its two-hundred day moving average is $11.35.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.81%. Sell-side analysts predict that CleanSpark, Inc. will post 0.29 EPS for the current year.

Hedge Funds Weigh In On CleanSpark

A number of large investors have recently modified their holdings of the business. Hollencrest Capital Management boosted its stake in shares of CleanSpark by 33.3% in the third quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $37,000 after buying an additional 1,000 shares in the last quarter. FMR LLC lifted its holdings in CleanSpark by 5.0% in the third quarter. FMR LLC now owns 24,729 shares of the company’s stock valued at $231,000 after acquiring an additional 1,170 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of CleanSpark by 21.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after purchasing an additional 1,345 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of CleanSpark by 9.1% during the 4th quarter. Prudential Financial Inc. now owns 16,835 shares of the company’s stock worth $155,000 after purchasing an additional 1,405 shares during the period. Finally, Corebridge Financial Inc. increased its holdings in shares of CleanSpark by 1.2% in the 4th quarter. Corebridge Financial Inc. now owns 123,723 shares of the company’s stock valued at $1,139,000 after purchasing an additional 1,507 shares in the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on CLSK. Needham & Company LLC assumed coverage on CleanSpark in a research report on Wednesday. They issued a “buy” rating and a $20.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a report on Friday, February 7th. JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $10.50 to $17.00 in a report on Tuesday, December 10th. Macquarie increased their price target on shares of CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods began coverage on shares of CleanSpark in a research note on Monday, January 27th. They issued an “outperform” rating and a $19.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $22.25.

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.