CleanSpark, Inc. (NASDAQ:CLSK) CEO Zachary Bradford Sells 10,533 Shares of Stock

CleanSpark, Inc. (NASDAQ:CLSK) CEO Zachary Bradford sold 10,533 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $112,071.12. Following the completion of the transaction, the chief executive officer now owns 3,059,326 shares in the company, valued at approximately $32,551,228.64. This trade represents a 0.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

CleanSpark Price Performance

Shares of NASDAQ:CLSK opened at $10.50 on Friday. CleanSpark, Inc. has a 1 year low of $8.04 and a 1 year high of $24.72. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 95.46 and a beta of 4.24. The business’s 50 day moving average price is $10.89 and its 200-day moving average price is $11.38.

CleanSpark (NASDAQ:CLSK) last announced its earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.81% and a net margin of 16.07%. On average, sell-side analysts expect that CleanSpark, Inc. will post 0.29 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of CleanSpark from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $10.50 to $17.00 in a report on Tuesday, December 10th. Macquarie raised their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Needham & Company LLC began coverage on shares of CleanSpark in a research note on Wednesday. They set a “buy” rating and a $20.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods began coverage on shares of CleanSpark in a research note on Monday, January 27th. They set an “outperform” rating and a $19.00 price objective on the stock. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $22.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Arbitrage LLC purchased a new position in CleanSpark in the 4th quarter valued at $2,334,000. Schonfeld Strategic Advisors LLC lifted its holdings in CleanSpark by 178.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 105,287 shares of the company’s stock valued at $970,000 after purchasing an additional 67,477 shares in the last quarter. Northern Trust Corp lifted its holdings in CleanSpark by 7.2% in the 4th quarter. Northern Trust Corp now owns 2,419,057 shares of the company’s stock valued at $22,280,000 after purchasing an additional 163,282 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in CleanSpark by 7.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 149,645 shares of the company’s stock valued at $1,378,000 after purchasing an additional 10,451 shares in the last quarter. Finally, Beacon Pointe Advisors LLC lifted its holdings in CleanSpark by 81.8% in the 4th quarter. Beacon Pointe Advisors LLC now owns 100,000 shares of the company’s stock valued at $921,000 after purchasing an additional 45,000 shares in the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

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.