Headlands Technologies LLC Acquires Shares of 117,515 CleanSpark, Inc. (NASDAQ:CLSK)

Headlands Technologies LLC acquired a new stake in shares of CleanSpark, Inc. (NASDAQ:CLSK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 117,515 shares of the company’s stock, valued at approximately $1,296,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. New York State Common Retirement Fund lifted its holdings in CleanSpark by 54.8% during the fourth quarter. New York State Common Retirement Fund now owns 63,141 shares of the company’s stock valued at $696,000 after purchasing an additional 22,340 shares in the last quarter. Signaturefd LLC lifted its holdings in CleanSpark by 100.0% during the fourth quarter. Signaturefd LLC now owns 9,000 shares of the company’s stock valued at $99,000 after purchasing an additional 4,500 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of CleanSpark in the fourth quarter valued at about $702,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of CleanSpark by 73.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,884 shares of the company’s stock valued at $396,000 after buying an additional 15,162 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its position in shares of CleanSpark by 72.8% in the fourth quarter. Vontobel Holding Ltd. now owns 42,744 shares of the company’s stock valued at $471,000 after buying an additional 18,011 shares during the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CleanSpark news, CEO Zachary Bradford sold 443,000 shares of CleanSpark stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $20.31, for a total transaction of $8,997,330.00. Following the completion of the sale, the chief executive officer now directly owns 2,795,863 shares in the company, valued at $56,783,977.53. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other CleanSpark news, Director Roger Paul Beynon sold 10,976 shares of CleanSpark stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total transaction of $195,921.60. Following the completion of the sale, the director now directly owns 141,381 shares in the company, valued at $2,523,650.85. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Zachary Bradford sold 443,000 shares of CleanSpark stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $20.31, for a total transaction of $8,997,330.00. Following the sale, the chief executive officer now owns 2,795,863 shares of the company’s stock, valued at $56,783,977.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,169,620 shares of company stock worth $24,963,509. Insiders own 3.46% of the company’s stock.

Analysts Set New Price Targets

CLSK has been the subject of a number of recent research reports. Chardan Capital increased their target price on shares of CleanSpark from $13.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, March 4th. TheStreet upgraded shares of CleanSpark from a “d” rating to a “c-” rating in a research report on Friday, February 9th. BTIG Research increased their target price on shares of CleanSpark from $12.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Cantor Fitzgerald increased their target price on shares of CleanSpark from $10.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research report on Monday, April 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, CleanSpark has a consensus rating of “Moderate Buy” and a consensus price target of $19.22.

CleanSpark Stock Performance

CleanSpark stock opened at $19.23 on Friday. CleanSpark, Inc. has a 12-month low of $3.33 and a 12-month high of $24.72. The company has a 50-day moving average price of $17.79 and a 200 day moving average price of $11.37.

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

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.