Sherbrooke Park Advisers LLC Buys Shares of 34,724 CleanSpark, Inc. (NASDAQ:CLSK)

Sherbrooke Park Advisers LLC purchased a new stake in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 34,724 shares of the company's stock, valued at approximately $320,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CLSK. Price T Rowe Associates Inc. MD increased its holdings in CleanSpark by 1,018.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,687,022 shares of the company's stock valued at $15,538,000 after buying an additional 1,536,145 shares during the period. Jump Financial LLC bought a new stake in CleanSpark in the 4th quarter valued at $13,443,000. Shaolin Capital Management LLC bought a new stake in CleanSpark in the 4th quarter valued at $8,559,000. Invesco Ltd. increased its holdings in CleanSpark by 44.2% in the 4th quarter. Invesco Ltd. now owns 2,984,362 shares of the company's stock valued at $27,486,000 after buying an additional 914,279 shares during the period. Finally, Van ECK Associates Corp increased its holdings in CleanSpark by 40.0% in the 4th quarter. Van ECK Associates Corp now owns 2,227,199 shares of the company's stock valued at $20,513,000 after buying an additional 636,511 shares during the period. Institutional investors own 43.12% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CLSK. Chardan Capital began coverage on shares of CleanSpark in a report on Wednesday. They issued a "buy" rating and a $20.00 price target on the stock. Needham & Company LLC started coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They issued a "buy" rating and a $20.00 target price on the stock. HC Wainwright restated a "buy" rating and issued a $27.00 target price on shares of CleanSpark in a research note on Friday, February 7th. Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a research note on Monday, January 27th. They issued an "outperform" rating and a $19.00 target price on the stock. Finally, 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. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $20.71.

CleanSpark Stock Performance

Shares of NASDAQ:CLSK traded down $0.51 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. CleanSpark, Inc. has a twelve month low of $6.45 and a twelve month high of $20.64. The firm's 50 day moving average price is $8.28 and its 200-day moving average price is $10.16. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 85.10 and a beta of 4.36.

CleanSpark (NASDAQ:CLSK - Get Free Report) last issued 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). The company 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 firm's quarterly revenue was up 62.5% on a year-over-year basis. During the same quarter last year, the company earned $0.59 EPS. As a group, sell-side analysts predict that CleanSpark, Inc. will post 0.58 EPS for the current year.

Insider Buying and Selling

In related news, 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 transaction, the director now owns 140,289 shares in the company, valued at $1,118,103.33. This represents a 8.48% 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 Roger Paul Beynon sold 50,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $1,319,120.61. This trade represents a 28.49% decrease in their position. The disclosure for this sale can be found here. 2.65% of the stock is owned by corporate insiders.

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.