Vident Advisory LLC Trims Stake in CleanSpark, Inc. (NASDAQ:CLSK)

Vident Advisory LLC decreased its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 15.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,149,683 shares of the company's stock after selling 212,075 shares during the period. Vident Advisory LLC owned about 0.41% of CleanSpark worth $10,589,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CLSK. Compagnie Lombard Odier SCmA purchased a new position in shares of CleanSpark during the fourth quarter valued at approximately $31,000. Russell Investments Group Ltd. boosted its position in shares of CleanSpark by 60.0% during 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 during the last quarter. KBC Group NV boosted its position in shares of 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 buying an additional 2,700 shares during the last quarter. R Squared Ltd purchased a new position in shares of CleanSpark during the fourth quarter valued at approximately $101,000. Finally, Farringdon Capital Ltd. bought a new stake in CleanSpark during the fourth quarter worth $105,000. Hedge funds and other institutional investors own 43.12% of the company's stock.

Insider Buying and Selling at CleanSpark

In related news, Director Roger Paul Beynon sold 50,000 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $10.51, for a total transaction of $525,500.00. Following the sale, the director now directly owns 125,511 shares in the company, valued at approximately $1,319,120.61. The trade was a 28.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amanda Cavaleri sold 13,000 shares of the business'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 transaction, the director now 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 disclosure for this sale can be found here. Corporate insiders own 2.65% of the company's stock.

CleanSpark Price Performance

Shares of CLSK traded down $0.51 during mid-day trading on Friday, hitting $9.36. The stock had a trading volume of 25,551,613 shares, compared to its average volume of 28,306,611. The firm has a market cap of $2.63 billion, a P/E ratio of 85.10 and a beta of 4.36. The business has a fifty day moving average price of $8.28 and a 200-day moving average price of $10.16. CleanSpark, Inc. has a 52 week low of $6.45 and a 52 week high of $20.64.

CleanSpark (NASDAQ:CLSK - Get Free Report) last issued 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 firm had revenue of $181.71 million during the quarter, compared to the consensus estimate of $196.43 million. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. The business's quarterly revenue was up 62.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 earnings per share. As a group, research analysts expect that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. 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 report on Thursday, March 13th. Needham & Company LLC assumed coverage on CleanSpark in a report on Wednesday, February 12th. They set a "buy" rating and a $20.00 price target on the stock. Keefe, Bruyette & Woods assumed coverage on CleanSpark in a report on Monday, January 27th. They set an "outperform" rating and a $19.00 price target on the stock. HC Wainwright reiterated a "buy" rating and set a $27.00 price target on shares of CleanSpark in a report on Friday, February 7th. Finally, Chardan Capital assumed coverage on CleanSpark in a report on Wednesday. They set a "buy" rating and a $20.00 price target on the stock. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $20.71.

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.