DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Boosts Stake in CleanSpark, Inc. (NASDAQ:CLSK)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 68.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 281,783 shares of the company's stock after buying an additional 114,674 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned 0.10% of CleanSpark worth $2,595,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Compagnie Lombard Odier SCmA bought a new stake in shares of CleanSpark during the 4th quarter valued at $31,000. GAMMA Investing LLC raised its stake in shares of CleanSpark by 962.1% during the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock valued at $36,000 after purchasing an additional 3,579 shares during the period. Russell Investments Group Ltd. raised its stake in shares of CleanSpark by 60.0% during the 4th quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company's stock valued at $54,000 after purchasing an additional 2,196 shares during the period. KBC Group NV increased its stake in CleanSpark by 36.5% in 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. Finally, R Squared Ltd bought a new position in CleanSpark in the 4th quarter worth about $101,000. Hedge funds and other institutional investors own 43.12% of the company's stock.

CleanSpark Stock Performance

CLSK traded down $0.39 on Wednesday, hitting $9.61. 23,935,230 shares of the company were exchanged, compared to its average volume of 28,357,680. The firm has a fifty day simple moving average of $8.04 and a two-hundred day simple moving average of $10.25. CleanSpark, Inc. has a 12 month low of $6.45 and a 12 month high of $20.64. The stock has a market capitalization of $2.70 billion, a PE ratio of 87.37 and a beta of 4.36.

CleanSpark (NASDAQ:CLSK - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). The business had revenue of $181.71 million during 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%. CleanSpark's quarterly revenue was up 62.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 earnings per share. On average, equities analysts expect that CleanSpark, Inc. will post 0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. HC Wainwright restated a "buy" rating and issued a $27.00 target price on shares of CleanSpark in a research note on Friday, February 7th. Chardan Capital upgraded CleanSpark to a "strong-buy" rating in a research note on Tuesday, April 29th. Needham & Company LLC began coverage on CleanSpark in a research report on Wednesday, February 12th. They set a "buy" rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective 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 began coverage on CleanSpark in a research report on Monday, January 27th. They set an "outperform" rating and a $19.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, CleanSpark presently has an average rating of "Buy" and an average target price of $20.83.

Insider Transactions at CleanSpark

In other news, Chairman S. Matthew Schultz sold 9,010 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $10.64, for a total transaction of $95,866.40. Following the sale, the chairman now 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Amanda Cavaleri sold 13,000 shares of the 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 completion of the transaction, the director now owns 140,289 shares of the company's stock, valued at approximately $1,118,103.33. The trade was a 8.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,836 shares of company stock worth $335,945. 2.65% of the stock is currently owned by insiders.

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.