Congress Asset Management Co. purchased a new stake in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 349,941 shares of the company's stock, valued at approximately $2,352,000. Congress Asset Management Co. owned 0.12% of CleanSpark as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CLSK. Price T Rowe Associates Inc. MD boosted its holdings in shares of CleanSpark by 1,018.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,687,022 shares of the company's stock worth $15,538,000 after buying an additional 1,536,145 shares during the period. Jump Financial LLC acquired a new position in CleanSpark in the fourth quarter worth approximately $13,443,000. Shaolin Capital Management LLC bought a new position in shares of CleanSpark during the 4th quarter valued at $8,559,000. Invesco Ltd. lifted its position in shares of CleanSpark by 44.2% in the fourth quarter. Invesco Ltd. now owns 2,984,362 shares of the company's stock worth $27,486,000 after buying an additional 914,279 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in CleanSpark by 50.8% during the fourth quarter. Tidal Investments LLC now owns 2,394,779 shares of the company's stock valued at $22,056,000 after purchasing an additional 806,435 shares during the last quarter. 43.12% of the stock is currently owned by institutional investors.
CleanSpark Trading Down 2.6%
Shares of NASDAQ:CLSK traded down $0.26 during trading on Thursday, hitting $9.71. 19,363,048 shares of the company's stock traded hands, compared to its average volume of 28,046,805. The company has a 50-day moving average price of $8.71 and a 200-day moving average price of $9.72. CleanSpark, Inc. has a 52 week low of $6.45 and a 52 week high of $20.64. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 88.28 and a beta of 4.23.
CleanSpark (NASDAQ:CLSK - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). The firm had revenue of $181.71 million for the quarter, compared to the consensus estimate of $196.43 million. CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. CleanSpark's revenue for the quarter was up 62.5% on a year-over-year basis. During the same quarter last year, the company posted $0.59 EPS. On average, analysts predict that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on CLSK shares. Chardan Capital started coverage on CleanSpark in a report on Wednesday, May 21st. They set a "buy" rating and a $20.00 price target for the company. JPMorgan Chase & Co. reduced their target price on shares of CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Finally, Needham & Company LLC began coverage on CleanSpark in a research report on Wednesday, February 12th. They set a "buy" rating and a $20.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, CleanSpark currently has a consensus rating of "Buy" and a consensus price target of $20.71.
Check Out Our Latest Stock Report on CLSK
Insider Transactions at CleanSpark
In other news, Director Roger Paul Beynon sold 50,000 shares of the firm's stock in a transaction that occurred on 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 directly owns 125,511 shares of the company's stock, valued at $1,319,120.61. This trade represents a 28.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $103,610.00. Following the completion of the transaction, the director now owns 140,289 shares in the company, valued at approximately $1,118,103.33. This trade represents a 8.48% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.65% of the company's stock.
CleanSpark Profile
(
Free Report)
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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