Taylor Monnig Sells 1,350 Shares of CleanSpark, Inc. (NASDAQ:CLSK) Stock

CleanSpark, Inc. (NASDAQ:CLSK) CTO Taylor Monnig sold 1,350 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $11.88, for a total value of $16,038.00. Following the transaction, the chief technology officer now directly owns 204,220 shares of the company’s stock, valued at $2,426,133.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Taylor Monnig also recently made the following trade(s):

• On Friday, September 27th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The shares were sold at an average price of $10.44, for a total value of $14,094.00.
• On Friday, August 30th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The shares were sold at an average price of $10.77, for a total value of $14,539.50.

CleanSpark Stock Down 4.8 %

Shares of NASDAQ CLSK opened at $11.39 on Friday. The stock’s fifty day moving average price is $10.19 and its two-hundred day moving average price is $14.13. CleanSpark, Inc. has a one year low of $3.46 and a one year high of $24.72.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings results on Friday, August 9th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.03). CleanSpark had a negative net margin of 46.31% and a negative return on equity of 3.64%. The business had revenue of $104.11 million during the quarter, compared to analyst estimates of $114.04 million. Equities research analysts expect that CleanSpark, Inc. will post -0.06 EPS for the current year.

Wall Street Analysts Forecast Growth

CLSK has been the subject of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a research report on Thursday, October 3rd. JPMorgan Chase & Co. cut their price objective on CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a research report on Friday, August 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a research report on Wednesday, September 25th. Finally, Macquarie initiated coverage on CleanSpark in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.11.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in CleanSpark by 58.5% during the first quarter. Vanguard Group Inc. now owns 12,755,249 shares of the company’s stock worth $270,539,000 after buying an additional 4,706,738 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of CleanSpark during the 2nd quarter worth $18,074,000. Millennium Management LLC increased its position in shares of CleanSpark by 74.6% in the second quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock worth $19,958,000 after purchasing an additional 534,825 shares during the period. Bank of New York Mellon Corp raised its stake in CleanSpark by 32.8% in the second quarter. Bank of New York Mellon Corp now owns 871,793 shares of the company’s stock valued at $13,905,000 after purchasing an additional 215,124 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in CleanSpark by 45.7% during the third quarter. Exchange Traded Concepts LLC now owns 568,086 shares of the company’s stock worth $5,306,000 after purchasing an additional 178,117 shares during the period. 43.12% of the stock is owned by institutional investors.

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.