Matauro LLC Buys 37,170 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Matauro LLC lifted its stake in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 46.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 116,577 shares of the company's stock after buying an additional 37,170 shares during the period. Matauro LLC's holdings in CleanSpark were worth $783,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Van ECK Associates Corp increased its holdings in shares of CleanSpark by 40.0% in the fourth quarter. Van ECK Associates Corp now owns 2,227,199 shares of the company's stock worth $20,513,000 after acquiring an additional 636,511 shares in the last quarter. Vontobel Holding Ltd. raised its position in CleanSpark by 111.2% in the fourth quarter. Vontobel Holding Ltd. now owns 133,532 shares of the company's stock valued at $1,230,000 after purchasing an additional 70,295 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in CleanSpark during the 4th quarter worth about $31,000. Rhumbline Advisers raised its stake in CleanSpark by 10.7% during the 4th quarter. Rhumbline Advisers now owns 334,094 shares of the company's stock worth $3,077,000 after buying an additional 32,236 shares during the period. Finally, Sanctuary Advisors LLC boosted its position in shares of CleanSpark by 56.5% during the fourth quarter. Sanctuary Advisors LLC now owns 74,930 shares of the company's stock valued at $690,000 after buying an additional 27,048 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CLSK shares. Chardan Capital initiated coverage on shares of CleanSpark in a report on Wednesday, May 21st. They set a "buy" rating and a $20.00 price objective on the stock. BTIG Research restated a "buy" rating on shares of CleanSpark in a research note on Friday. Finally, JPMorgan Chase & Co. raised their price objective on CleanSpark from $12.00 to $14.00 and gave the stock an "overweight" rating in a research note on Friday. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CleanSpark has an average rating of "Buy" and a consensus target price of $21.00.

Insiders Place Their Bets

In other news, Director Amanda Cavaleri sold 13,000 shares of CleanSpark stock in a transaction 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 $1,118,103.33. This trade represents a 8.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roger Paul Beynon sold 50,000 shares of CleanSpark stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $10.51, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.65% of the company's stock.

CleanSpark Price Performance

Shares of CLSK traded down $0.72 during mid-day trading on Tuesday, reaching $8.90. 28,848,145 shares of the company's stock were exchanged, compared to its average volume of 27,931,474. CleanSpark, Inc. has a 52-week low of $6.45 and a 52-week high of $20.64. The business's fifty day simple moving average is $8.86 and its 200-day simple moving average is $9.57. The stock has a market capitalization of $2.50 billion, a PE ratio of 80.92 and a beta of 4.23.

CleanSpark (NASDAQ:CLSK - Get Free Report) last released its quarterly 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). CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. The firm had revenue of $181.71 million for the quarter, compared to analysts' expectations of $196.43 million. During the same period last year, the firm earned $0.59 EPS. The business's quarterly revenue was up 62.5% on a year-over-year basis. Equities research analysts predict that CleanSpark, Inc. will post 0.58 earnings per share for the current year.

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.