D. E. Shaw & Co. Inc. Grows Position in CleanSpark, Inc. (NASDAQ:CLSK)

D. E. Shaw & Co. Inc. lifted its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 147.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 93,023 shares of the company's stock after purchasing an additional 55,424 shares during the period. D. E. Shaw & Co. Inc.'s holdings in CleanSpark were worth $857,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CLSK. Barclays PLC raised its stake in CleanSpark by 364.0% in the 3rd quarter. Barclays PLC now owns 389,201 shares of the company's stock valued at $3,634,000 after acquiring an additional 305,316 shares during the period. Secure Asset Management LLC acquired a new position in CleanSpark in the 4th quarter valued at $948,000. Exchange Traded Concepts LLC grew its holdings in CleanSpark by 25.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 714,249 shares of the company's stock valued at $6,578,000 after buying an additional 146,163 shares in the last quarter. Archford Capital Strategies LLC acquired a new position in CleanSpark in the 4th quarter valued at $184,000. Finally, KBC Group NV grew its holdings in CleanSpark by 36.5% in the 4th 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 in the last quarter. Institutional investors own 43.12% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CLSK. HC Wainwright reissued a "buy" rating and set a $27.00 target price on shares of CleanSpark in a report on Friday, February 7th. Needham & Company LLC began coverage on CleanSpark in a report on Wednesday, February 12th. They set a "buy" rating and a $20.00 target price on the stock. Chardan Capital began coverage on CleanSpark in a report on Wednesday, May 21st. They set a "buy" rating and a $20.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods began coverage on CleanSpark in a report on Monday, January 27th. They set an "outperform" rating and a $19.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, CleanSpark has a consensus rating of "Buy" and a consensus target price of $20.71.

CleanSpark Trading Up 5.3%

CleanSpark stock traded up $0.50 during trading on Tuesday, hitting $9.86. 27,502,931 shares of the company were exchanged, compared to its average volume of 28,303,471. The business's 50 day moving average is $8.31 and its 200 day moving average is $10.10. CleanSpark, Inc. has a 52 week low of $6.45 and a 52 week high of $20.64. The company has a market capitalization of $2.77 billion, a P/E ratio of 89.64 and a beta of 4.36.

CleanSpark (NASDAQ:CLSK - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) earnings per share 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 business had revenue of $181.71 million during the quarter, compared to analysts' expectations of $196.43 million. During the same period in the prior year, the firm posted $0.59 EPS. The firm's revenue for the quarter was up 62.5% on a year-over-year basis. Equities analysts expect that CleanSpark, Inc. will post 0.58 EPS for the current year.

Insiders Place Their Bets

In other news, Director Roger Paul Beynon sold 50,000 shares of the company'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 transaction, the director now owns 125,511 shares of the company's stock, valued at $1,319,120.61. This represents a 28.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amanda Cavaleri sold 13,000 shares of the 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 directly owns 140,289 shares in the company, valued at $1,118,103.33. This trade represents a 8.48% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.65% of the company's stock.

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.