Jump Financial LLC Acquires Shares of 1,459,598 CleanSpark, Inc. (NASDAQ:CLSK)

Jump Financial LLC bought a new position in CleanSpark, Inc. (NASDAQ:CLSK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,459,598 shares of the company’s stock, valued at approximately $13,443,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its stake in shares of CleanSpark by 364.0% in the third quarter. Barclays PLC now owns 389,201 shares of the company’s stock worth $3,634,000 after buying an additional 305,316 shares in the last quarter. Virtu Financial LLC bought a new position in CleanSpark in the 4th quarter valued at approximately $338,000. Assenagon Asset Management S.A. purchased a new stake in CleanSpark during the 4th quarter valued at $39,940,000. Quadrant Capital Group LLC purchased a new stake in shares of CleanSpark during the fourth quarter valued at $734,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in CleanSpark by 121.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 46,323 shares of the company’s stock worth $427,000 after buying an additional 25,444 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CLSK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Needham & Company LLC assumed coverage on CleanSpark in a report on Wednesday, February 12th. They issued a “buy” rating and a $20.00 price objective for the company. Keefe, Bruyette & Woods began coverage on CleanSpark in a research note on Monday, January 27th. They set an “outperform” rating and a $19.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a research note on Friday, February 7th. Finally, Chardan Capital raised shares of CleanSpark to a “strong-buy” rating in a report on Monday, March 24th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $21.57.

Insider Activity at CleanSpark

In other news, CEO Zachary Bradford sold 10,533 shares of CleanSpark stock in a transaction that occurred on Friday, February 14th. The stock was 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 in the company, valued at approximately $32,551,228.64. The trade was a 0.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 owns 140,289 shares in the company, valued at $1,118,103.33. The trade was a 8.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,836 shares of company stock valued at $335,945. 2.65% of the stock is owned by corporate insiders.

CleanSpark Stock Up 3.7 %

NASDAQ:CLSK opened at $7.78 on Tuesday. The business’s 50-day simple moving average is $8.43 and its two-hundred day simple moving average is $10.54. CleanSpark, Inc. has a 52 week low of $6.45 and a 52 week high of $21.39. The stock has a market cap of $2.18 billion, a PE ratio of 70.73 and a beta of 4.12.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) EPS for the quarter, topping 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%. Sell-side analysts anticipate that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal year.

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.