By otakuyassine3@gmail.com 
Geode Capital Management LLC boosted its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK – Free Report) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,517,268 shares of the company’s stock after purchasing an additional 353,807 shares during the quarter. Geode Capital Management LLC owned about 2.32% of CleanSpark worth $60,037,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC lifted its stake in shares of CleanSpark by 5.0% during the 3rd quarter. FMR LLC now owns 24,729 shares of the company’s stock worth $231,000 after buying an additional 1,170 shares during the last quarter. State Street Corp lifted its position in CleanSpark by 4.5% during the third quarter. State Street Corp now owns 6,073,912 shares of the company’s stock worth $56,730,000 after acquiring an additional 261,195 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of CleanSpark by 48.9% during the third quarter. Wellington Management Group LLP now owns 29,176 shares of the company’s stock worth $273,000 after acquiring an additional 9,579 shares during the period. Barclays PLC grew its position in shares of CleanSpark by 364.0% in the third quarter. Barclays PLC now owns 389,201 shares of the company’s stock valued at $3,634,000 after purchasing an additional 305,316 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its stake in shares of CleanSpark by 167.2% during the third quarter. Sanctuary Advisors LLC now owns 47,882 shares of the company’s stock worth $447,000 after purchasing an additional 29,964 shares during the period. 43.12% of the stock is currently owned by institutional investors and hedge funds.
CleanSpark Trading Up 5.2 %
NASDAQ CLSK opened at $7.50 on Friday. The firm’s 50 day simple moving average is $8.48 and its 200 day simple moving average is $10.56. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 68.19 and a beta of 4.12. CleanSpark, Inc. has a 1 year low of $6.45 and a 1 year high of $21.39.
CleanSpark (NASDAQ:CLSK – Get Free Report) last issued its earnings results 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, equities research analysts forecast that CleanSpark, Inc. will post 0.58 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. JPMorgan Chase & Co. decreased their price objective on CleanSpark from $17.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. 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. Chardan Capital upgraded shares of CleanSpark to a “strong-buy” rating in a research note on Monday, March 24th. Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a research report on Monday, January 27th. They set an “outperform” rating and a $19.00 target price on the stock. Finally, Needham & Company LLC assumed coverage on shares of CleanSpark in a research report on Wednesday, February 12th. They issued a “buy” rating and a $20.00 price target for the company. Six research 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.com, the stock has an average rating of “Buy” and an average target price of $21.57.
Read Our Latest Analysis on CLSK
Insider Transactions at CleanSpark
In related news, CEO Zachary Bradford sold 10,533 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $112,071.12. Following the completion of the transaction, the chief executive officer now owns 3,059,326 shares of the company’s stock, valued at $32,551,228.64. This represents a 0.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amanda Cavaleri sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $7.97, for a total transaction of $103,610.00. Following the completion of the sale, the director now owns 140,289 shares in the company, valued at $1,118,103.33. This represents a 8.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,836 shares of company stock valued at $335,945. 2.65% of the stock is currently 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.
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