Algert Global LLC Raises Stock Position in CleanSpark, Inc. (NASDAQ:CLSK)

Algert Global LLC increased its stake in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 284.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 198,862 shares of the company's stock after purchasing an additional 147,086 shares during the period. Algert Global LLC owned approximately 0.07% of CleanSpark worth $1,832,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Barclays PLC grew its stake in CleanSpark by 364.0% in the 3rd quarter. Barclays PLC now owns 389,201 shares of the company's stock worth $3,634,000 after buying an additional 305,316 shares in the last quarter. GAMMA Investing LLC lifted its holdings 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 acquiring an additional 3,579 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in CleanSpark in the fourth quarter worth $39,940,000. Hennion & Walsh Asset Management Inc. increased its stake in CleanSpark by 121.9% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 46,323 shares of the company's stock valued at $427,000 after acquiring an additional 25,444 shares during the last quarter. Finally, Royal Fund Management LLC purchased a new stake in CleanSpark during the fourth quarter valued at about $147,000. 43.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CLSK has been the subject of a number of research reports. Chardan Capital upgraded CleanSpark to a "strong-buy" rating in a report on Tuesday, April 29th. Needham & Company LLC began coverage on CleanSpark in a research report on Wednesday, February 12th. They issued a "buy" rating and a $20.00 target price for the company. JPMorgan Chase & Co. cut their target price on CleanSpark from $17.00 to $12.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. HC Wainwright reissued a "buy" rating and set a $27.00 price target on shares of CleanSpark in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a report on Monday, January 27th. They issued an "outperform" rating and a $19.00 price objective for the company. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $20.83.

Insider Buying and Selling at CleanSpark

In other news, Director Amanda Cavaleri sold 13,000 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $7.97, for a total transaction of $103,610.00. Following the completion of the transaction, the director now directly owns 140,289 shares of the company's stock, valued at approximately $1,118,103.33. This represents a 8.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Zachary Bradford sold 10,533 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $112,071.12. Following the sale, the chief executive officer now owns 3,059,326 shares of the company's stock, valued at approximately $32,551,228.64. This represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,836 shares of company stock valued at $335,945 in the last quarter. Company insiders own 2.65% of the company's stock.

CleanSpark Stock Performance

CLSK traded down $0.19 on Wednesday, hitting $9.81. 15,267,604 shares of the company were exchanged, compared to its average volume of 28,303,150. The firm has a fifty day simple moving average of $7.98 and a two-hundred day simple moving average of $10.25. The stock has a market capitalization of $2.76 billion, a PE ratio of 89.19 and a beta of 4.36. CleanSpark, Inc. has a 12 month low of $6.45 and a 12 month high of $20.64.

CleanSpark (NASDAQ:CLSK - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. The firm had revenue of $181.71 million during the quarter, compared to the consensus estimate of $196.43 million. During the same quarter in the prior year, the business posted $0.59 EPS. The firm's revenue for the quarter was up 62.5% on a year-over-year basis. On average, equities analysts expect that CleanSpark, Inc. will post 0.58 earnings per share for the current year.

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.