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

CleanSpark, Inc. (NASDAQ:CLSK) Director Amanda Cavaleri sold 13,000 shares of the business’s stock in a transaction 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 sale, the director now owns 140,289 shares in the company, valued at approximately $1,118,103.33. The trade was a 8.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

CleanSpark Stock Up 18.1 %

CLSK stock traded up $1.35 during trading on Monday, hitting $8.79. The company had a trading volume of 37,668,460 shares, compared to its average volume of 28,968,343. The firm has a market capitalization of $2.47 billion, a P/E ratio of 79.92 and a beta of 4.20. CleanSpark, Inc. has a 52-week low of $7.22 and a 52-week high of $24.72. The company has a 50 day simple moving average of $9.61 and a 200-day simple moving average of $10.76.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings results 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 negative return on equity of 2.61% and a net margin of 16.07%. Sell-side analysts forecast that CleanSpark, Inc. will post 0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CLSK shares. Macquarie raised their price target on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Needham & Company LLC initiated coverage on shares of CleanSpark in a report on Wednesday, February 12th. They issued a “buy” rating and a $20.00 target price for the company. JPMorgan Chase & Co. reduced their price target on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. 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. Finally, Keefe, Bruyette & Woods began coverage on shares of CleanSpark in a report on Monday, January 27th. They issued an “outperform” rating and a $19.00 target price on the stock. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, CleanSpark presently has an average rating of “Buy” and an average target price of $21.57.

Institutional Investors Weigh In On CleanSpark

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

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.