CleanSpark, Inc. (NASDAQ:CLSK) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. grew its holdings in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 27.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 291,391 shares of the company's stock after purchasing an additional 63,123 shares during the period. Ameriprise Financial Inc. owned about 0.10% of CleanSpark worth $2,684,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Compagnie Lombard Odier SCmA purchased a new stake in CleanSpark in the 4th quarter worth $31,000. Russell Investments Group Ltd. increased its holdings in shares of CleanSpark by 60.0% in the 4th quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company's stock worth $54,000 after buying an additional 2,196 shares during the last quarter. KBC Group NV raised its position in CleanSpark by 36.5% during the fourth quarter. KBC Group NV now owns 10,103 shares of the company's stock valued at $93,000 after purchasing an additional 2,700 shares during the period. R Squared Ltd purchased a new stake in CleanSpark during the 4th quarter valued at $101,000. Finally, Farringdon Capital Ltd. bought a new stake in shares of CleanSpark in the 4th quarter worth about $105,000. Hedge funds and other institutional investors own 43.12% of the company's stock.

CleanSpark Price Performance

Shares of NASDAQ CLSK traded down $0.15 during mid-day trading on Friday, hitting $8.63. The company had a trading volume of 21,831,274 shares, compared to its average volume of 28,239,929. The company has a market capitalization of $2.42 billion, a PE ratio of 78.46 and a beta of 4.36. The business's 50-day simple moving average is $8.38 and its 200 day simple moving average is $9.94. CleanSpark, Inc. has a 1-year low of $6.45 and a 1-year high of $20.64.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Chardan Capital assumed coverage on shares of CleanSpark in a report on Wednesday, May 21st. They issued a "buy" rating and a $20.00 price target on the stock. Needham & Company LLC began coverage on CleanSpark in a research note on Wednesday, February 12th. They set a "buy" rating and a $20.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and issued a $27.00 price target on shares of CleanSpark in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. dropped their price target on CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CleanSpark has a consensus rating of "Buy" and an average target price of $20.71.

Insider Activity at CleanSpark

In other news, Director Amanda Cavaleri sold 13,000 shares of the company's stock in a transaction dated Monday, March 24th. The shares were 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger Paul Beynon sold 50,000 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $10.51, for a total transaction of $525,500.00. Following the transaction, the director now owns 125,511 shares in the company, valued at approximately $1,319,120.61. This trade represents a 28.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.65% of the company's stock.

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.