Amanda Cavaleri Sells 13,000 Shares of CleanSpark, Inc. (NASDAQ:CLSK) Stock

CleanSpark, Inc. (NASDAQ:CLSK) Director Amanda Cavaleri sold 13,000 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $7.97, for a total value of $103,610.00. Following the sale, the director now directly owns 140,289 shares in the company, valued at $1,118,103.33. This trade represents a 8.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

CleanSpark Stock Performance

NASDAQ CLSK opened at $8.73 on Wednesday. The business’s fifty day moving average is $9.55 and its 200 day moving average is $10.77. CleanSpark, Inc. has a fifty-two week low of $7.22 and a fifty-two week high of $24.72. The company has a market capitalization of $2.45 billion, a PE ratio of 79.37 and a beta of 4.20.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Macquarie raised their target price on shares of CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Needham & Company LLC initiated coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They set a “buy” rating and a $20.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods assumed coverage on CleanSpark in a research report on Monday, January 27th. They set an “outperform” rating and a $19.00 price objective for the company. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $21.57.

Hedge Funds Weigh In On CleanSpark

Hedge funds have recently modified their holdings of the company. Compagnie Lombard Odier SCmA purchased a new position in shares of CleanSpark during the 4th quarter valued at $31,000. GAMMA Investing LLC increased its stake in CleanSpark by 962.1% in the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock worth $36,000 after buying an additional 3,579 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in CleanSpark by 60.0% during the fourth quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company’s stock valued at $54,000 after acquiring an additional 2,196 shares during the period. KBC Group NV lifted its position in shares of CleanSpark by 42.0% in the third quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $69,000 after acquiring an additional 2,190 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of CleanSpark in the fourth quarter worth about $101,000. 43.12% of the stock is currently owned by institutional investors.

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.