CleanSpark, Inc. (NASDAQ:CLSK) Director Amanda Cavaleri Sells 13,000 Shares of Stock

CleanSpark, Inc. (NASDAQ:CLSK) 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 of the company’s stock, valued at $1,118,103.33. This trade represents a 8.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

CleanSpark Price Performance

NASDAQ CLSK opened at $8.79 on Tuesday. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 79.92 and a beta of 4.20. The company has a 50 day simple moving average of $9.58 and a 200-day simple moving average of $10.76. CleanSpark, Inc. has a 52-week low of $7.22 and a 52-week high of $24.72.

CleanSpark (NASDAQ:CLSK) last released its earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. On average, analysts predict that CleanSpark, Inc. will post 0.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CLSK. Macquarie boosted their target price on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods assumed coverage on CleanSpark in a report on Monday, January 27th. They set an “outperform” rating and a $19.00 price objective on the stock. 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 report on Thursday, March 13th. HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of CleanSpark in a report on Friday, February 7th. Finally, Needham & Company LLC began coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They issued a “buy” rating and a $20.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $21.57.

Institutional Trading of CleanSpark

A number of institutional investors have recently bought and sold shares of the company. Compagnie Lombard Odier SCmA acquired a new position in CleanSpark in the 4th quarter worth about $31,000. GAMMA Investing LLC grew its stake in shares of CleanSpark by 962.1% in the 4th 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 in the last quarter. Russell Investments Group Ltd. grew its stake in shares of CleanSpark by 60.0% in the 4th 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 in the last quarter. KBC Group NV increased its holdings in CleanSpark by 42.0% in the third quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $69,000 after buying an additional 2,190 shares during the last quarter. Finally, R Squared Ltd bought a new position in CleanSpark during the fourth quarter valued at approximately $101,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

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.