16,407 Shares in CleanSpark, Inc. (NASDAQ:CLSK) Bought by Crestline Management LP

Crestline Management LP acquired a new stake in CleanSpark, Inc. (NASDAQ:CLSK) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 16,407 shares of the company’s stock, valued at approximately $151,000.

Other hedge funds have also recently made changes to their positions in the company. Compagnie Lombard Odier SCmA acquired a new position in shares of CleanSpark during the fourth quarter valued at about $31,000. GAMMA Investing LLC grew its holdings in shares of CleanSpark by 962.1% during the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock valued at $36,000 after buying an additional 3,579 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of 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 buying an additional 2,196 shares during the last quarter. KBC Group NV grew its holdings in shares of CleanSpark by 36.5% during the fourth quarter. KBC Group NV now owns 10,103 shares of the company’s stock valued at $93,000 after buying an additional 2,700 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of CleanSpark during the fourth quarter valued at about $101,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CLSK. JPMorgan Chase & Co. reduced their price objective on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Keefe, Bruyette & Woods assumed coverage on shares of CleanSpark in a research report on Monday, January 27th. They set an “outperform” rating and a $19.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of CleanSpark in a research report on Friday, February 7th. Chardan Capital raised shares of CleanSpark to a “strong-buy” rating in a research report on Tuesday, April 29th. Finally, Needham & Company LLC assumed coverage on shares of CleanSpark in a research report on Wednesday, February 12th. They set a “buy” rating and a $20.00 price target on the stock. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $21.57.

CleanSpark Stock Performance

Shares of CLSK stock opened at $9.19 on Monday. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 83.55 and a beta of 4.36. CleanSpark, Inc. has a 52 week low of $6.45 and a 52 week high of $20.64. The firm’s 50-day simple moving average is $7.96 and its two-hundred day simple moving average is $10.27.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. Analysts forecast that CleanSpark, Inc. will post 0.58 earnings per share for the current year.

Insiders Place Their Bets

In other CleanSpark news, Director Amanda Cavaleri sold 13,000 shares of CleanSpark stock in a transaction dated 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 of the company’s stock, valued at approximately $1,118,103.33. The trade was a 8.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman S. Matthew Schultz sold 9,010 shares of CleanSpark stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $95,866.40. Following the completion of the sale, the chairman now directly owns 2,450,010 shares in the company, valued at approximately $26,068,106.40. This represents a 0.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,836 shares of company stock valued at $335,945. Company insiders own 2.65% of the company’s stock.

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.