46,353 Shares in CleanSpark, Inc. (NASDAQ:CLSK) Acquired by Boston Partners

Boston Partners purchased a new stake in CleanSpark, Inc. (NASDAQ:CLSK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 46,353 shares of the company’s stock, valued at approximately $427,000.

Other hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new position in shares of CleanSpark in the fourth quarter valued at about $39,940,000. Van ECK Associates Corp grew its stake in CleanSpark by 40.0% in the 4th quarter. Van ECK Associates Corp now owns 2,227,199 shares of the company’s stock valued at $20,513,000 after buying an additional 636,511 shares during the last quarter. Geode Capital Management LLC raised its holdings in CleanSpark by 9.8% in the 3rd 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 period. Barclays PLC lifted its position in CleanSpark by 364.0% during the third quarter. Barclays PLC now owns 389,201 shares of the company’s stock worth $3,634,000 after acquiring an additional 305,316 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of CleanSpark by 12.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,464,861 shares of the company’s stock worth $22,701,000 after acquiring an additional 270,026 shares during the period. Institutional investors and hedge funds own 43.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CLSK shares. Needham & Company LLC assumed coverage on CleanSpark in a research note on Wednesday, February 12th. They set a “buy” rating and a $20.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a research report on Friday, February 7th. Macquarie boosted their target price on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods began coverage on shares of CleanSpark in a research report on Monday, January 27th. They set an “outperform” rating and a $19.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $21.57.

CleanSpark Trading Down 4.0 %

Shares of NASDAQ:CLSK opened at $7.44 on Monday. The firm has a 50 day moving average of $9.61 and a 200-day moving average of $10.76. CleanSpark, Inc. has a 12 month low of $7.22 and a 12 month high of $24.72. The stock has a market capitalization of $2.09 billion, a PE ratio of 67.64 and a beta of 4.20.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) EPS for the quarter, beating 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, research analysts predict that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Zachary Bradford sold 10,533 shares of CleanSpark stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $10.64, for a total transaction of $112,071.12. Following the sale, the chief executive officer now directly owns 3,059,326 shares of the company’s stock, valued at approximately $32,551,228.64. The trade was a 0.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman S. Matthew Schultz sold 9,010 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 transaction of $95,866.40. Following the transaction, the chairman now owns 2,450,010 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 23,186 shares of company stock worth $246,375 in the last ninety days. 2.65% of the stock is owned by insiders.

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.