Centiva Capital LP Has $272,000 Holdings in CleanSpark, Inc. (NASDAQ:CLSK)

Centiva Capital LP cut its holdings in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 85.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,513 shares of the company's stock after selling 178,212 shares during the period. Centiva Capital LP's holdings in CleanSpark were worth $272,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CLSK. Prudential Financial Inc. increased its holdings 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 buying an additional 1,405 shares during the last quarter. Corebridge Financial Inc. increased its holdings in CleanSpark by 1.2% during the fourth 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 increased its holdings in CleanSpark by 11.9% during the fourth quarter. Sigma Planning Corp now owns 17,518 shares of the company's stock worth $161,000 after buying an additional 1,865 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in 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 buying an additional 2,196 shares during the last quarter. Finally, KBC Group NV increased its holdings in 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 buying an additional 2,700 shares during the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CLSK. Keefe, Bruyette & Woods began coverage on shares of CleanSpark in a report on Monday, January 27th. They set an "outperform" rating and a $19.00 target price on the stock. HC Wainwright restated a "buy" rating and set a $27.00 target price on shares of CleanSpark in a report on Friday, February 7th. Needham & Company LLC initiated coverage on shares of CleanSpark in a report on Wednesday, February 12th. They issued a "buy" rating and a $20.00 price objective on the stock. Chardan Capital upgraded shares of CleanSpark to a "strong-buy" rating in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. decreased their price objective 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. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, CleanSpark currently has an average rating of "Buy" and an average price target of $21.57.

CleanSpark Stock Performance

Shares of CleanSpark stock opened at $9.62 on Tuesday. The firm has a 50-day moving average of $7.98 and a 200-day moving average of $10.25. The stock has a market cap of $2.70 billion, a PE ratio of 87.46 and a beta of 4.36. CleanSpark, Inc. has a 52-week low of $6.45 and a 52-week high of $20.64.

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

Insider Buying and Selling

In related news, CEO Zachary Bradford sold 10,533 shares of the company's stock in a transaction dated Friday, February 14th. The shares were 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 owns 3,059,326 shares of the company's stock, valued at $32,551,228.64. This represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Amanda Cavaleri sold 13,000 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $7.97, for a total transaction of $103,610.00. Following the sale, the director now directly owns 140,289 shares of the company's stock, valued at $1,118,103.33. This represents a 8.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,836 shares of company stock valued at $335,945 over the last quarter. 2.65% of the stock is owned by company insiders.

CleanSpark 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.

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