CleanSpark, Inc. (NASDAQ:CLSK) Director Sells $103,610.00 in Stock

CleanSpark, Inc. (NASDAQ:CLSK) Director Amanda Cavaleri sold 13,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $7.97, for a total transaction of $103,610.00. Following the completion of the transaction, the director now owns 140,289 shares in the company, valued at approximately $1,118,103.33. This trade represents a 8.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

CleanSpark Price Performance

CleanSpark stock opened at $8.12 on Thursday. The stock has a market capitalization of $2.28 billion, a PE ratio of 73.82 and a beta of 4.20. The business has a 50 day simple moving average of $9.49 and a 200-day simple moving average of $10.75. CleanSpark, Inc. has a 12 month low of $7.22 and a 12 month high of $24.72.

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

Institutional Trading of CleanSpark

Institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. acquired a new position in shares of CleanSpark during the 4th quarter worth about $39,940,000. Price T Rowe Associates Inc. MD raised its holdings in shares of CleanSpark by 1,018.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,687,022 shares of the company’s stock valued at $15,538,000 after acquiring an additional 1,536,145 shares during the last quarter. Jump Financial LLC acquired a new position in shares of CleanSpark during the fourth quarter valued at approximately $13,443,000. Shaolin Capital Management LLC purchased a new position in shares of CleanSpark in the fourth quarter valued at approximately $8,559,000. Finally, Invesco Ltd. boosted its stake in shares of CleanSpark by 44.2% in the fourth quarter. Invesco Ltd. now owns 2,984,362 shares of the company’s stock worth $27,486,000 after acquiring an additional 914,279 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

Analysts Set New Price Targets

CLSK has been the subject of a number of research reports. 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 started coverage on CleanSpark in a research note on Monday, January 27th. They issued an “outperform” rating and a $19.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Chardan Capital raised shares of CleanSpark to a “strong-buy” rating in a research note on Monday. Finally, HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research note on Friday, February 7th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, CleanSpark has an average rating of “Buy” and an average target price of $21.57.

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.