Central Asset Investments & Management Holdings HK Ltd Acquires Shares of 25,434 CleanSpark, Inc. (NASDAQ:CLSK)

Central Asset Investments & Management Holdings HK Ltd purchased a new position in CleanSpark, Inc. (NASDAQ:CLSK) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 25,434 shares of the company’s stock, valued at approximately $234,000.

A number of other institutional investors have also made changes to their positions in the stock. Hollencrest Capital Management grew its position in shares of CleanSpark by 33.3% during the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $37,000 after buying an additional 1,000 shares during the period. FMR LLC grew its holdings in CleanSpark by 5.0% during the third quarter. FMR LLC now owns 24,729 shares of the company’s stock valued at $231,000 after purchasing an additional 1,170 shares during the period. DekaBank Deutsche Girozentrale increased its stake in CleanSpark by 21.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock valued at $75,000 after purchasing an additional 1,345 shares in the last quarter. Victory Capital Management Inc. raised its holdings in CleanSpark by 2.6% in the third quarter. Victory Capital Management Inc. now owns 67,981 shares of the company’s stock worth $635,000 after purchasing an additional 1,709 shares during the period. Finally, Sigma Planning Corp raised its holdings in CleanSpark by 11.9% in the fourth quarter. Sigma Planning Corp now owns 17,518 shares of the company’s stock worth $161,000 after purchasing an additional 1,865 shares during the period. 43.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CLSK has been the subject of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a report on Friday, February 7th. Keefe, Bruyette & Woods initiated coverage on CleanSpark in a research note on Monday, January 27th. They issued an “outperform” rating and a $19.00 target price for the company. Macquarie raised their price target on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Needham & Company LLC began coverage on shares of CleanSpark in a report on Wednesday, February 12th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $10.50 to $17.00 in a research note on Tuesday, December 10th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, CleanSpark presently has an average rating of “Buy” and an average target price of $22.25.

CleanSpark Stock Down 3.3 %

Shares of CLSK stock opened at $7.88 on Thursday. CleanSpark, Inc. has a 12 month low of $7.70 and a 12 month high of $24.72. The company’s fifty day simple moving average is $10.46 and its 200-day simple moving average is $11.17. The firm has a market cap of $2.21 billion, a PE ratio of 71.64 and a beta of 4.25.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. On average, equities analysts predict that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Zachary Bradford sold 10,533 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.64, for a total transaction of $112,071.12. Following the transaction, the chief executive officer now directly owns 3,059,326 shares in the company, valued at $32,551,228.64. The trade was a 0.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman S. Matthew Schultz sold 9,010 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $95,866.40. Following the completion of the sale, the chairman now directly owns 2,450,010 shares of the company’s stock, valued at approximately $26,068,106.40. The trade was a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,536 shares of company stock worth $265,748. Corporate insiders own 2.65% 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.