CleanSpark, Inc. (NASDAQ:CLSK) Shares Purchased by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 68.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,783 shares of the company's stock after acquiring an additional 114,674 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned approximately 0.10% of CleanSpark worth $2,595,000 at the end of the most recent quarter.

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

CleanSpark Stock Performance

Shares of CleanSpark stock traded up $0.60 during midday trading on Friday, hitting $9.96. The company had a trading volume of 21,194,330 shares, compared to its average volume of 28,246,003. The company has a 50 day moving average of $8.06 and a 200 day moving average of $10.23. CleanSpark, Inc. has a 52-week low of $6.45 and a 52-week high of $20.64. The stock has a market capitalization of $2.80 billion, a P/E ratio of 90.24 and a beta of 4.36.

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

Wall Street Analyst Weigh In

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

Insider Transactions at CleanSpark

In other news, Director Amanda Cavaleri sold 13,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $7.97, for a total transaction of $103,610.00. Following the transaction, the director now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.65% of the company's stock.

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.