Dimensional Fund Advisors LP Sells 2,681,561 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Dimensional Fund Advisors LP decreased its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 41.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,792,714 shares of the company's stock after selling 2,681,561 shares during the period. Dimensional Fund Advisors LP owned about 1.35% of CleanSpark worth $34,931,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. bought a new position in shares of CleanSpark during the 4th quarter worth approximately $39,940,000. Jump Financial LLC bought a new position in shares of CleanSpark during the fourth quarter valued at $13,443,000. Invesco Ltd. boosted its stake in shares of CleanSpark by 44.2% in the 4th 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 in the last quarter. Van ECK Associates Corp grew its holdings in shares of CleanSpark by 40.0% in the 4th quarter. Van ECK Associates Corp now owns 2,227,199 shares of the company's stock worth $20,513,000 after purchasing an additional 636,511 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of CleanSpark by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 19,655,746 shares of the company's stock worth $181,029,000 after purchasing an additional 495,367 shares in the last quarter. 43.12% of the stock is owned by institutional investors and hedge funds.

CleanSpark Stock Up 1.6 %

Shares of CLSK opened at $8.81 on Monday. The stock's fifty day simple moving average is $7.90 and its 200-day simple moving average is $10.40. The firm has a market capitalization of $2.47 billion, a PE ratio of 80.10 and a beta of 4.36. CleanSpark, Inc. has a 12-month low of $6.45 and a 12-month high of $20.64.

CleanSpark (NASDAQ:CLSK - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. Analysts anticipate that CleanSpark, Inc. will post 0.58 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods assumed coverage on shares of CleanSpark in a research note on Monday, January 27th. They set an "outperform" rating and a $19.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target on CleanSpark from $17.00 to $12.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Chardan Capital upgraded CleanSpark to a "strong-buy" rating in a research report on Tuesday, April 29th. Needham & Company LLC initiated coverage on CleanSpark in a report on Wednesday, February 12th. They set a "buy" rating and a $20.00 target price on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $27.00 price target on shares of CleanSpark in a report on Friday, February 7th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CleanSpark currently has an average rating of "Buy" and an average price target of $21.57.

Insider Buying and Selling at CleanSpark

In related news, Chairman S. Matthew Schultz sold 9,010 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $10.64, for a total value of $95,866.40. Following the completion of the sale, the chairman now owns 2,450,010 shares in the company, valued at approximately $26,068,106.40. This represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Zachary Bradford sold 10,533 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $10.64, for a total value of $112,071.12. Following the transaction, the chief executive officer now owns 3,059,326 shares in the company, valued at approximately $32,551,228.64. This trade represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,836 shares of company stock worth $335,945. Insiders own 2.65% of the company's stock.

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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