Bayesian Capital Management LP Purchases Shares of 161,800 CleanSpark, Inc. (NASDAQ:CLSK)

Bayesian Capital Management LP acquired a new stake in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 161,800 shares of the company's stock, valued at approximately $1,490,000. Bayesian Capital Management LP owned about 0.06% of CleanSpark as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Prudential Financial Inc. raised its position in CleanSpark by 9.1% during the fourth quarter. Prudential Financial Inc. now owns 16,835 shares of the company's stock worth $155,000 after acquiring an additional 1,405 shares in the last quarter. Corebridge Financial Inc. lifted its position in shares of CleanSpark by 1.2% during the 4th quarter. Corebridge Financial Inc. now owns 123,723 shares of the company's stock worth $1,139,000 after buying an additional 1,507 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of CleanSpark by 11.9% in the 4th quarter. Sigma Planning Corp now owns 17,518 shares of the company's stock valued at $161,000 after purchasing an additional 1,865 shares in the last quarter. Russell Investments Group Ltd. boosted its position in CleanSpark by 60.0% in the fourth 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 in the last quarter. Finally, KBC Group NV grew its position in CleanSpark by 36.5% during the 4th quarter. KBC Group NV now owns 10,103 shares of the company's stock worth $93,000 after acquiring an additional 2,700 shares during the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CleanSpark

In other news, CEO Zachary Bradford sold 10,533 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $112,071.12. Following the completion of the transaction, the chief executive officer now directly owns 3,059,326 shares in the company, valued at approximately $32,551,228.64. This trade represents a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman S. Matthew Schultz sold 9,010 shares of the company'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 $95,866.40. Following the completion of the transaction, the chairman now directly owns 2,450,010 shares in the company, valued at approximately $26,068,106.40. The trade was a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,836 shares of company stock worth $335,945 over the last quarter. Corporate insiders own 2.65% of the company's stock.

CleanSpark Stock Up 7.9 %

CLSK traded up $0.64 during trading on Thursday, hitting $8.67. 32,418,077 shares of the company traded hands, compared to its average volume of 28,216,493. The firm has a market cap of $2.43 billion, a P/E ratio of 78.78 and a beta of 4.36. CleanSpark, Inc. has a one year low of $6.45 and a one year high of $20.64. The stock's fifty day moving average is $7.91 and its 200 day moving average is $10.34.

CleanSpark (NASDAQ:CLSK - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. On average, equities research analysts forecast that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CLSK shares. HC Wainwright reissued a "buy" rating and set a $27.00 target price on shares of CleanSpark in a report on Friday, February 7th. Chardan Capital raised CleanSpark to a "strong-buy" rating in a research note on Tuesday, April 29th. JPMorgan Chase & Co. cut their price objective on shares of CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Keefe, Bruyette & Woods initiated coverage on shares of CleanSpark in a research report on Monday, January 27th. They issued an "outperform" rating and a $19.00 price target for the company. Finally, Needham & Company LLC assumed coverage on CleanSpark in a research note on Wednesday, February 12th. They set a "buy" rating and a $20.00 price target for the company. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $21.57.

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.