CleanSpark, Inc. (NASDAQ:CLSK) Shares Purchased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD boosted its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 1,018.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,687,022 shares of the company's stock after acquiring an additional 1,536,145 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.60% of CleanSpark worth $15,538,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Compagnie Lombard Odier SCmA purchased a new position in shares of CleanSpark during the 4th quarter valued at approximately $31,000. GAMMA Investing LLC grew its position in CleanSpark by 962.1% during the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock valued at $36,000 after buying an additional 3,579 shares during the period. Russell Investments Group Ltd. increased its holdings 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. KBC Group NV raised 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 worth $93,000 after acquiring an additional 2,700 shares during the period. Finally, R Squared Ltd acquired a new position in shares of CleanSpark in the fourth quarter worth about $101,000. Hedge funds and other institutional investors own 43.12% of the company's stock.

CleanSpark Stock Performance

NASDAQ CLSK opened at $8.67 on Friday. The business has a fifty day moving average price of $7.89 and a 200 day moving average price of $10.44. The company has a market cap of $2.43 billion, a P/E ratio of 78.83 and a beta of 4.12. CleanSpark, Inc. has a one year low of $6.45 and a one year high of $20.64.

CleanSpark (NASDAQ:CLSK - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. As a group, sell-side analysts predict that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling 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 value of $103,610.00. Following the completion of the sale, the director now directly owns 140,289 shares in the company, valued at $1,118,103.33. This 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. Also, CEO Zachary Bradford sold 10,533 shares of the 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 sale, the chief executive officer now directly owns 3,059,326 shares of the company's stock, valued at approximately $32,551,228.64. This represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,836 shares of company stock worth $335,945. Insiders own 2.65% of the company's stock.

Analyst Ratings Changes

CLSK has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price target on CleanSpark from $17.00 to $12.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Keefe, Bruyette & Woods initiated coverage on CleanSpark in a report on Monday, January 27th. They issued an "outperform" rating and a $19.00 price objective on the stock. Needham & Company LLC assumed coverage on CleanSpark in a research note on Wednesday, February 12th. They set a "buy" rating and a $20.00 target price for the company. HC Wainwright reiterated a "buy" rating and set a $27.00 target price on shares of CleanSpark in a research report on Friday, February 7th. Finally, Chardan Capital raised shares of CleanSpark to a "strong-buy" rating in a report on Tuesday. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $21.57.

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.

Want to see what other hedge funds are holding CLSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CleanSpark, Inc. (NASDAQ:CLSK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.