CleanSpark, Inc. (NASDAQ:CLSK) Holdings Lowered by Vident Advisory LLC

Vident Advisory LLC trimmed its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 15.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,149,683 shares of the company's stock after selling 212,075 shares during the quarter. Vident Advisory LLC owned about 0.41% of CleanSpark worth $10,589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Prudential Financial Inc. grew its stake in shares of CleanSpark by 9.1% in the 4th quarter. Prudential Financial Inc. now owns 16,835 shares of the company's stock worth $155,000 after purchasing an additional 1,405 shares during the last quarter. Corebridge Financial Inc. grew its stake in shares of CleanSpark by 1.2% in the 4th quarter. Corebridge Financial Inc. now owns 123,723 shares of the company's stock worth $1,139,000 after purchasing an additional 1,507 shares during the last quarter. Sigma Planning Corp grew its stake in shares of CleanSpark by 11.9% in the 4th quarter. Sigma Planning Corp now owns 17,518 shares of the company's stock worth $161,000 after purchasing an additional 1,865 shares during the last quarter. Russell Investments Group Ltd. grew its stake 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 purchasing an additional 2,196 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of 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 purchasing an additional 2,700 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company's stock.

Insider Activity at CleanSpark

In related news, Director Amanda Cavaleri sold 13,000 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $7.97, for a total transaction of $103,610.00. Following the transaction, the director now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.65% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CLSK. HC Wainwright reaffirmed a "buy" rating and issued a $27.00 price objective on shares of CleanSpark in a research note on Friday, February 7th. Needham & Company LLC began coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They issued a "buy" rating and a $20.00 price objective on the stock. Keefe, Bruyette & Woods began coverage on shares of CleanSpark in a research note on Monday, January 27th. They issued an "outperform" rating and a $19.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, Chardan Capital raised shares of CleanSpark to a "strong-buy" rating in a research report on Tuesday, April 29th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CleanSpark presently has a consensus rating of "Buy" and a consensus target price of $20.83.

CleanSpark Price Performance

CleanSpark stock opened at $9.84 on Tuesday. The firm's 50 day simple moving average is $8.13 and its 200-day simple moving average is $10.19. The company has a market cap of $2.76 billion, a P/E ratio of 89.46 and a beta of 4.36. CleanSpark, Inc. has a fifty-two week low of $6.45 and a fifty-two week 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 company had revenue of $181.71 million for the quarter, compared to analysts' expectations of $196.43 million. During the same period in the previous year, the firm posted $0.59 earnings per share. The business'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 fiscal year.

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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