Barclays PLC Increases Stake in CleanSpark, Inc. (NASDAQ:CLSK)

Barclays PLC boosted its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 96.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 763,801 shares of the company's stock after buying an additional 374,600 shares during the quarter. Barclays PLC owned 0.27% of CleanSpark worth $7,034,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Compagnie Lombard Odier SCmA purchased a new position in CleanSpark during the fourth quarter worth about $31,000. GAMMA Investing LLC lifted its position in shares of CleanSpark by 962.1% during the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock worth $36,000 after purchasing an additional 3,579 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of CleanSpark by 60.0% during the fourth quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company's stock worth $54,000 after purchasing an additional 2,196 shares in the last quarter. KBC Group NV lifted its position in shares of CleanSpark by 36.5% during the fourth quarter. KBC Group NV now owns 10,103 shares of the company's stock worth $93,000 after purchasing an additional 2,700 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of CleanSpark during the fourth quarter worth about $101,000. Hedge funds and other institutional investors own 43.12% of the company's stock.

CleanSpark Stock Performance

CLSK stock traded down $0.27 during midday trading on Wednesday, reaching $8.17. 16,645,354 shares of the company were exchanged, compared to its average volume of 28,295,518. CleanSpark, Inc. has a 1-year low of $6.45 and a 1-year high of $20.64. The stock's 50-day simple moving average is $7.91 and its 200 day simple moving average is $10.47. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 74.28 and a beta of 4.12.

CleanSpark (NASDAQ:CLSK - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) earnings per share 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 2.61%. On average, research analysts anticipate that CleanSpark, Inc. will post 0.58 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on CLSK shares. Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a research report on Monday, January 27th. They set an "outperform" rating and a $19.00 price target on the stock. Needham & Company LLC started coverage on shares of CleanSpark in a research report on Wednesday, February 12th. They set a "buy" rating and a $20.00 price target on the stock. Chardan Capital raised shares of CleanSpark to a "strong-buy" rating in a research report on Monday, March 24th. JPMorgan Chase & Co. reduced their target price on shares of CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $27.00 target price on shares of CleanSpark in a report on Friday, February 7th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $21.57.

Insiders Place Their Bets

In other news, Director Amanda Cavaleri sold 13,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $7.97, for a total transaction of $103,610.00. Following the transaction, the director now directly owns 140,289 shares in the company, valued at approximately $1,118,103.33. This trade 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 link. Also, Chairman S. Matthew Schultz sold 9,010 shares of the firm's 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 $95,866.40. Following the transaction, the chairman now owns 2,450,010 shares in the company, valued at approximately $26,068,106.40. This trade represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,836 shares of company stock valued at $335,945. 2.65% of the stock is owned by corporate insiders.

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.