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

CleanSpark, Inc. (NASDAQ:CLSK) CEO Zachary Bradford sold 10,533 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 3,059,326 shares of the company’s stock, valued at approximately $32,551,228.64. The trade was a 0.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

CleanSpark Stock Performance

Shares of CleanSpark stock opened at $10.50 on Friday. The business’s 50 day moving average price is $10.89 and its 200 day moving average price is $11.35. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 95.46 and a beta of 4.24. CleanSpark, Inc. has a one year low of $8.04 and a one year high of $24.72.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CLSK. Compagnie Lombard Odier SCmA purchased a new stake in CleanSpark in the fourth quarter valued at $31,000. GAMMA Investing LLC increased its position in shares of CleanSpark by 962.1% during the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock worth $36,000 after purchasing an additional 3,579 shares during the last quarter. Hollencrest Capital Management increased its position in shares of CleanSpark by 33.3% during the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $37,000 after purchasing an additional 1,000 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in 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 during the period. Finally, KBC Group NV lifted its position in CleanSpark by 42.0% in the third quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $69,000 after buying an additional 2,190 shares during the last quarter. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

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.