CleanSpark, Inc. (NASDAQ:CLSK) CTO Sells $14,040.00 in Stock

CleanSpark, Inc. (NASDAQ:CLSK) CTO Taylor Monnig sold 1,350 shares of the stock in a transaction on Friday, December 27th. The stock was sold at an average price of $10.40, for a total value of $14,040.00. Following the transaction, the chief technology officer now directly owns 201,520 shares in the company, valued at approximately $2,095,808. This represents a 0.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Taylor Monnig also recently made the following trade(s):

• On Friday, November 29th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The shares were sold at an average price of $14.35, for a total value of $19,372.50.
• On Friday, October 25th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The stock was sold at an average price of $11.88, for a total value of $16,038.00.

CleanSpark Stock Performance

CleanSpark stock traded down $0.58 during trading on Friday, reaching $9.78. 23,962,164 shares of the company’s stock were exchanged, compared to its average volume of 31,576,566. The company’s 50-day moving average is $12.90 and its two-hundred day moving average is $13.00. CleanSpark, Inc. has a 52-week low of $6.41 and a 52-week high of $24.72. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of -16.86 and a beta of 4.16.

Institutional Investors Weigh In On CleanSpark

A number of large investors have recently modified their holdings of the stock. Sanctuary Advisors LLC boosted its holdings in CleanSpark by 167.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 47,882 shares of the company’s stock worth $447,000 after acquiring an additional 29,964 shares during the period. Arete Wealth Advisors LLC purchased a new position in shares of CleanSpark in the third quarter valued at $903,000. Geode Capital Management LLC grew its holdings in CleanSpark by 9.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock valued at $57,577,000 after purchasing an additional 549,187 shares in the last quarter. Barclays PLC increased its stake in CleanSpark by 364.0% during the 3rd quarter. Barclays PLC now owns 389,201 shares of the company’s stock worth $3,634,000 after buying an additional 305,316 shares during the period. Finally, Main Management ETF Advisors LLC acquired a new position in CleanSpark in the 3rd quarter worth $486,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CLSK shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $23.00 price objective on shares of CleanSpark in a report on Thursday, October 3rd. JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $10.50 to $17.00 in a research note on Tuesday, December 10th. HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a research note on Tuesday, December 3rd. Finally, Macquarie increased 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. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, CleanSpark presently has a consensus rating of “Buy” and an average target price of $23.17.

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.