Centiva Capital LP Trims Holdings in CleanSpark, Inc. (NASDAQ:CLSK)

Centiva Capital LP lowered its stake in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 85.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,513 shares of the company's stock after selling 178,212 shares during the quarter. Centiva Capital LP's holdings in CleanSpark were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new position in CleanSpark during the 4th quarter valued at approximately $39,940,000. Price T Rowe Associates Inc. MD boosted its stake in shares of CleanSpark by 1,018.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,687,022 shares of the company's stock worth $15,538,000 after buying an additional 1,536,145 shares during the last quarter. Jump Financial LLC purchased a new position in CleanSpark during the fourth quarter worth approximately $13,443,000. Shaolin Capital Management LLC acquired a new position in shares of CleanSpark during the fourth quarter valued at approximately $8,559,000. Finally, Invesco Ltd. increased its holdings in shares of CleanSpark by 44.2% in the fourth quarter. Invesco Ltd. now owns 2,984,362 shares of the company's stock valued at $27,486,000 after purchasing an additional 914,279 shares during the last quarter. Institutional investors own 43.12% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CLSK shares. Needham & Company LLC initiated coverage on CleanSpark in a report on Wednesday, February 12th. They issued a "buy" rating and a $20.00 target price for the company. 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. Chardan Capital raised CleanSpark to a "strong-buy" rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. dropped their target price on CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods started coverage on CleanSpark in a research note on Monday, January 27th. They issued an "outperform" rating and a $19.00 target price for the company. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CleanSpark currently has an average rating of "Buy" and an average target price of $20.83.

Insider Transactions at CleanSpark

In related news, Director Amanda Cavaleri sold 13,000 shares of the firm'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 transaction, the director now directly owns 140,289 shares of the company's stock, valued at $1,118,103.33. This trade represents a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.65% of the stock is currently owned by corporate insiders.

CleanSpark Price Performance

CLSK stock traded up $0.42 during midday trading on Friday, hitting $9.78. The company's stock had a trading volume of 29,937,279 shares, compared to its average volume of 28,287,781. CleanSpark, Inc. has a twelve month low of $6.45 and a twelve month high of $20.64. The company's fifty day moving average price is $8.09 and its 200 day moving average price is $10.19. The stock has a market capitalization of $2.75 billion, a P/E ratio of 88.92 and a beta of 4.36.

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

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.