BNP Paribas Financial Markets Purchases New Stake in CleanSpark, Inc. (NASDAQ:CLSK)

BNP Paribas Financial Markets bought a new position in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 35,123 shares of the company's stock, valued at approximately $323,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake 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 acquiring an additional 495,367 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of CleanSpark by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 6,517,268 shares of the company's stock worth $60,037,000 after acquiring an additional 353,807 shares during the last quarter. Invesco Ltd. lifted its stake in shares of CleanSpark by 44.2% during the 4th quarter. Invesco Ltd. now owns 2,984,362 shares of the company's stock worth $27,486,000 after acquiring an additional 914,279 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of CleanSpark by 12.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,464,861 shares of the company's stock worth $22,701,000 after acquiring an additional 270,026 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of CleanSpark by 7.2% during the 4th quarter. Northern Trust Corp now owns 2,419,057 shares of the company's stock worth $22,280,000 after acquiring an additional 163,282 shares during the last quarter. Hedge funds and other institutional investors own 43.12% of the company's stock.

Insider Buying and Selling 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 stock was sold at an average price of $7.97, for a total value of $103,610.00. Following the sale, the director now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roger Paul Beynon sold 50,000 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $10.51, for a total value of $525,500.00. Following the completion of the sale, the director now owns 125,511 shares in the company, valued at $1,319,120.61. The trade was a 28.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.65% of the company's stock.

Analyst Upgrades and Downgrades

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

CleanSpark Stock Performance

NASDAQ:CLSK traded down $0.15 during mid-day trading on Friday, hitting $8.63. 21,831,274 shares of the company's stock traded hands, compared to its average volume of 28,239,929. The company has a fifty day moving average of $8.38 and a 200 day moving average of $9.94. CleanSpark, Inc. has a twelve month low of $6.45 and a twelve month high of $20.64. The company has a market capitalization of $2.42 billion, a P/E ratio of 78.46 and a beta of 4.36.

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

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.