Hel Ved Capital Management Ltd Purchases Shares of 430,950 CleanSpark, Inc. (NASDAQ:CLSK)

Hel Ved Capital Management Ltd acquired a new position in CleanSpark, Inc. (NASDAQ:CLSK) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 430,950 shares of the company’s stock, valued at approximately $3,969,000. CleanSpark comprises approximately 1.2% of Hel Ved Capital Management Ltd’s holdings, making the stock its 25th largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CLSK. Thoroughbred Financial Services LLC lifted its position in shares of CleanSpark by 57.7% during the 4th quarter. Thoroughbred Financial Services LLC now owns 17,705 shares of the company’s stock valued at $163,000 after acquiring an additional 6,480 shares during the period. ExodusPoint Capital Management LP bought a new stake in CleanSpark in the fourth quarter valued at $4,543,000. Geode Capital Management LLC raised its holdings in shares of CleanSpark by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 6,517,268 shares of the company’s stock valued at $60,037,000 after purchasing an additional 353,807 shares during the period. OLD Mission Capital LLC bought a new position in shares of CleanSpark during the 4th quarter worth about $230,000. Finally, Franklin Resources Inc. increased its position in CleanSpark by 58.7% in the 4th quarter. Franklin Resources Inc. now owns 119,679 shares of the company’s stock valued at $1,102,000 after buying an additional 44,251 shares in the last quarter. 43.12% of the stock is owned by institutional investors and hedge funds.

CleanSpark Stock Down 1.2 %

Shares of NASDAQ CLSK opened at $7.32 on Friday. The company has a market capitalization of $2.06 billion, a PE ratio of 66.55 and a beta of 4.12. The stock’s 50 day moving average price is $8.93 and its 200-day moving average price is $10.65. CleanSpark, Inc. has a twelve month low of $6.50 and a twelve month high of $21.39.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) earnings per share for the quarter, topping 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%. As a group, research analysts expect that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CLSK. Needham & Company LLC initiated coverage on CleanSpark in a research note on Wednesday, February 12th. They issued a “buy” rating and a $20.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a report on Friday, February 7th. JPMorgan Chase & Co. decreased their target price on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Keefe, Bruyette & Woods initiated 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. Finally, Chardan Capital upgraded CleanSpark to a “strong-buy” rating in a research note on Monday, March 24th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $21.57.

Insider Buying and Selling

In other CleanSpark news, CEO Zachary Bradford sold 10,533 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $112,071.12. Following the transaction, the chief executive officer now directly owns 3,059,326 shares in the company, valued at $32,551,228.64. The trade was a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amanda Cavaleri sold 13,000 shares of the firm’s stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,836 shares of company stock valued at $335,945. 2.65% of the stock is owned by insiders.

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.