CleanSpark, Inc. (NASDAQ:CLSK) Shares Sold by Intrepid Financial Planning Group LLC

Intrepid Financial Planning Group LLC lowered its position in CleanSpark, Inc. (NASDAQ:CLSK) by 27.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,803 shares of the company’s stock after selling 5,220 shares during the quarter. Intrepid Financial Planning Group LLC’s holdings in CleanSpark were worth $127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in CleanSpark by 9.8% in the third quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock valued at $57,577,000 after acquiring an additional 549,187 shares during the last quarter. State Street Corp boosted its holdings in CleanSpark by 4.5% in the third quarter. State Street Corp now owns 6,073,912 shares of the company’s stock valued at $56,730,000 after acquiring an additional 261,195 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in CleanSpark in the fourth quarter valued at $39,940,000. Charles Schwab Investment Management Inc. raised its position in CleanSpark by 12.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,464,861 shares of the company’s stock valued at $22,701,000 after purchasing an additional 270,026 shares during the period. Finally, Van ECK Associates Corp raised its position in CleanSpark by 40.0% in the fourth quarter. Van ECK Associates Corp now owns 2,227,199 shares of the company’s stock valued at $20,513,000 after purchasing an additional 636,511 shares during the period. Institutional investors and hedge funds own 43.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CLSK. Needham & Company LLC began coverage on CleanSpark in a research report on Wednesday, February 12th. They issued a “buy” rating and a $20.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a research report on Friday, February 7th. JPMorgan Chase & Co. cut their price objective on CleanSpark from $17.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods started coverage on CleanSpark in a research report on Monday, January 27th. They issued an “outperform” rating and a $19.00 price objective on the stock. Finally, Macquarie lifted their target price on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, CleanSpark currently has a consensus rating of “Buy” and a consensus price target of $21.63.

CleanSpark Stock Up 3.6 %

Shares of CleanSpark stock opened at $7.97 on Friday. The firm has a market cap of $2.24 billion, a P/E ratio of 72.46 and a beta of 4.20. CleanSpark, Inc. has a fifty-two week low of $7.22 and a fifty-two week high of $24.72. The business has a 50-day moving average price of $9.88 and a 200 day moving average price of $10.84.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. As a group, equities research analysts anticipate that CleanSpark, Inc. will post 0.58 earnings per share for the current year.

Insider Buying and Selling at CleanSpark

In other news, Chairman S. Matthew Schultz sold 9,010 shares of the business’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 completion of the transaction, the chairman now directly owns 2,450,010 shares in the company, valued at approximately $26,068,106.40. The trade was a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Zachary Bradford sold 10,533 shares of the business’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 transaction, the chief executive officer now owns 3,059,326 shares of the company’s stock, valued at approximately $32,551,228.64. This represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,186 shares of company stock worth $246,375 over the last ninety days. Company insiders own 2.65% of the company’s stock.

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.