Vontobel Holding Ltd. Raises Holdings in CleanSpark, Inc. (NASDAQ:CLSK)

Vontobel Holding Ltd. grew its position in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 72.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,744 shares of the company’s stock after buying an additional 18,011 shares during the period. Vontobel Holding Ltd.’s holdings in CleanSpark were worth $471,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale purchased a new position in shares of CleanSpark during the 3rd quarter valued at $30,000. VitalStone Financial LLC lifted its position in shares of CleanSpark by 952.7% during the 3rd quarter. VitalStone Financial LLC now owns 8,895 shares of the company’s stock valued at $33,000 after buying an additional 8,050 shares during the last quarter. Tucker Asset Management LLC purchased a new position in shares of CleanSpark during the 3rd quarter valued at $38,000. Scotia Capital Inc. purchased a new position in shares of CleanSpark during the 3rd quarter valued at $39,000. Finally, Founders Financial Securities LLC purchased a new position in shares of CleanSpark during the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

CleanSpark Stock Performance

Shares of NASDAQ CLSK opened at $19.09 on Tuesday. The stock’s 50-day simple moving average is $17.58 and its two-hundred day simple moving average is $10.97. CleanSpark, Inc. has a twelve month low of $3.33 and a twelve month high of $24.72.

CleanSpark (NASDAQ:CLSK) last announced its earnings results on Thursday, February 8th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.26. The business had revenue of $73.79 million for the quarter, compared to analyst estimates of $66.06 million. CleanSpark had a negative return on equity of 16.25% and a negative net margin of 38.09%. On average, equities analysts anticipate that CleanSpark, Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity

In other news, CEO Zachary Bradford sold 443,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.31, for a total transaction of $8,997,330.00. Following the transaction, the chief executive officer now directly owns 2,795,863 shares in the company, valued at approximately $56,783,977.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Zachary Bradford sold 443,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.31, for a total transaction of $8,997,330.00. Following the transaction, the chief executive officer now directly owns 2,795,863 shares in the company, valued at approximately $56,783,977.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roger Paul Beynon sold 10,976 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total value of $195,921.60. Following the transaction, the director now owns 141,381 shares in the company, valued at $2,523,650.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,169,620 shares of company stock worth $24,963,509. 3.46% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CLSK has been the topic of a number of recent research reports. TheStreet raised CleanSpark from a “d” rating to a “c-” rating in a report on Friday, February 9th. Chardan Capital increased their price objective on CleanSpark from $13.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, March 4th. JPMorgan Chase & Co. increased their price objective on CleanSpark from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. BTIG Research increased their price objective on CleanSpark from $12.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a report on Monday, April 15th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, CleanSpark currently has an average rating of “Moderate Buy” and a consensus price target of $19.22.

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.