CleanSpark, Inc. (NASDAQ:CLSK) Chairman S. Matthew Schultz Sells 9,010 Shares of Stock

CleanSpark, Inc. (NASDAQ:CLSK) Chairman S. Matthew Schultz sold 9,010 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $10.64, for a total transaction of $95,866.40. Following the completion of the transaction, the chairman now owns 2,450,010 shares of the company’s stock, valued at $26,068,106.40. This trade represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

CleanSpark Stock Performance

CleanSpark stock opened at $10.50 on Friday. The firm’s 50-day moving average is $10.89 and its 200-day moving average is $11.38. CleanSpark, Inc. has a 1 year low of $8.04 and a 1 year high of $24.72. The company has a market cap of $2.95 billion, a P/E ratio of 95.46 and a beta of 4.24.

CleanSpark (NASDAQ:CLSK) last posted its quarterly 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 2.81%. As a group, sell-side analysts predict that CleanSpark, Inc. will post 0.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CLSK. Sanctuary Advisors LLC bought a new position in shares of CleanSpark in the 2nd quarter worth about $286,000. Vontobel Holding Ltd. lifted its position in shares of CleanSpark by 4.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 63,237 shares of the company’s stock worth $591,000 after buying an additional 2,927 shares during the last quarter. Avaii Wealth Management LLC lifted its position in shares of CleanSpark by 58.3% in the 3rd quarter. Avaii Wealth Management LLC now owns 46,565 shares of the company’s stock worth $435,000 after buying an additional 17,155 shares during the last quarter. Bellecapital International Ltd. acquired a new stake in shares of CleanSpark in the 3rd quarter worth about $125,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of CleanSpark by 50.0% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 300,000 shares of the company’s stock worth $2,802,000 after acquiring an additional 100,000 shares during the period. 43.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CLSK has been the subject of several analyst reports. Needham & Company LLC initiated coverage on shares of CleanSpark in a research note on Wednesday. They issued a “buy” rating and a $20.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research note on Friday, February 7th. JPMorgan Chase & Co. upgraded shares of CleanSpark from a “neutral” rating to an “overweight” rating and upped their target price for the company from $10.50 to $17.00 in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods started 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. Finally, Macquarie increased their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $22.25.

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.