Haven Private LLC Takes $108,000 Position in CleanSpark, Inc. (NASDAQ:CLSK)

Haven Private LLC acquired a new position in CleanSpark, Inc. (NASDAQ:CLSK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,757 shares of the company’s stock, valued at approximately $108,000.

Several other institutional investors also recently bought and sold shares of CLSK. Compagnie Lombard Odier SCmA purchased a new stake in shares of CleanSpark in the 4th quarter worth approximately $31,000. GAMMA Investing LLC increased its holdings in CleanSpark by 962.1% during the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock valued at $36,000 after buying an additional 3,579 shares during the period. Hollencrest Capital Management raised its stake in CleanSpark by 33.3% in the third quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $37,000 after buying an additional 1,000 shares in the last quarter. KBC Group NV lifted its holdings in CleanSpark by 42.0% during the third quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $69,000 after buying an additional 2,190 shares during the period. Finally, R Squared Ltd bought a new stake in CleanSpark during the 4th quarter valued at $101,000. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Zachary Bradford sold 10,533 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $10.64, for a total value of $112,071.12. Following the sale, the chief executive officer now owns 3,059,326 shares in the company, valued at $32,551,228.64. This represents a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman S. Matthew Schultz sold 9,010 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $95,866.40. Following the transaction, the chairman now directly owns 2,450,010 shares of the company’s stock, valued at $26,068,106.40. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,186 shares of company stock valued at $246,375. Company insiders own 2.65% of the company’s stock.

CleanSpark Stock Up 8.3 %

CLSK stock opened at $8.83 on Friday. The stock has a market capitalization of $2.48 billion, a PE ratio of 80.28 and a beta of 4.20. CleanSpark, Inc. has a 52 week low of $7.22 and a 52 week high of $24.72. The firm has a 50 day moving average of $10.04 and a 200 day moving average of $10.98.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings data 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 research analysts expect that CleanSpark, Inc. will post 0.58 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on CLSK. Keefe, Bruyette & Woods initiated coverage on CleanSpark in a research report on Monday, January 27th. They issued an “outperform” rating and a $19.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a report on Friday, February 7th. Needham & Company LLC started coverage on shares of CleanSpark in a report on Wednesday, February 12th. They issued a “buy” rating and a $20.00 price target on the stock. Macquarie boosted their price objective 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, JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and increased their target price for the company from $10.50 to $17.00 in a research report on Tuesday, December 10th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $22.25.

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.