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

D. E. Shaw & Co. Inc. increased its position in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 147.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 93,023 shares of the company's stock after buying an additional 55,424 shares during the period. D. E. Shaw & Co. Inc.'s holdings in CleanSpark were worth $857,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CLSK. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of CleanSpark by 68.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 281,783 shares of the company's stock worth $2,595,000 after acquiring an additional 114,674 shares during the period. Cresset Asset Management LLC increased its stake in shares of CleanSpark by 18.0% in the 4th quarter. Cresset Asset Management LLC now owns 29,572 shares of the company's stock valued at $272,000 after purchasing an additional 4,521 shares in the last quarter. Crestline Management LP acquired a new position in CleanSpark in the 4th quarter worth about $151,000. Cubist Systematic Strategies LLC acquired a new position in CleanSpark in the 4th quarter worth about $5,275,000. Finally, Cetera Investment Advisers boosted its position in CleanSpark by 3.8% during the fourth quarter. Cetera Investment Advisers now owns 238,399 shares of the company's stock worth $2,196,000 after purchasing an additional 8,643 shares in the last quarter. Institutional investors and hedge funds own 43.12% of the company's stock.

Insider Transactions at CleanSpark

In related news, Director Amanda Cavaleri sold 13,000 shares of CleanSpark stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $7.97, for a total transaction of $103,610.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Roger Paul Beynon sold 50,000 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were 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 owns 125,511 shares of the company's stock, valued at approximately $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.

Analysts Set New Price Targets

A number of research firms have recently commented on CLSK. JPMorgan Chase & Co. cut their price objective on CleanSpark from $17.00 to $12.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Chardan Capital started coverage on shares of CleanSpark in a report on Wednesday, May 21st. They issued a "buy" rating and a $20.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and set a $27.00 price objective on shares of CleanSpark in a report on Friday, February 7th. Finally, Needham & Company LLC assumed coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They set a "buy" rating and a $20.00 target price for the company. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $20.71.

CleanSpark Stock Down 3.6%

Shares of CleanSpark stock traded down $0.33 during trading hours on Thursday, reaching $8.78. 24,750,474 shares of the company's stock were exchanged, compared to its average volume of 28,260,474. The business has a fifty day moving average of $8.38 and a two-hundred day moving average of $10.03. The company has a market capitalization of $2.47 billion, a P/E ratio of 79.83 and a beta of 4.36. CleanSpark, Inc. has a 1 year low of $6.45 and a 1 year high of $20.64.

CleanSpark (NASDAQ:CLSK - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). The business had revenue of $181.71 million for the quarter, compared to analyst estimates of $196.43 million. CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. The business's revenue was up 62.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 earnings per share. As a group, research analysts predict that CleanSpark, Inc. will post 0.58 EPS for the current year.

About CleanSpark

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.