CleanSpark, Inc. (NASDAQ:CLSK) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC grew its holdings in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 50.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,394,779 shares of the company's stock after acquiring an additional 806,435 shares during the period. Tidal Investments LLC owned about 0.85% of CleanSpark worth $22,056,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in shares of 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 purchasing an additional 1,536,145 shares during the last quarter. Jump Financial LLC acquired a new stake in CleanSpark in the fourth quarter valued at $13,443,000. Shaolin Capital Management LLC acquired a new stake in CleanSpark in the fourth quarter valued at $8,559,000. Invesco Ltd. lifted its holdings in CleanSpark by 44.2% during the 4th 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, Van ECK Associates Corp boosted its position in shares of CleanSpark by 40.0% during the 4th 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. Hedge funds and other institutional investors own 43.12% of the company's stock.

Insider Transactions at CleanSpark

In other news, Director Roger Paul Beynon sold 50,000 shares of the company'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 transaction of $525,500.00. Following the completion of the transaction, the director now directly owns 125,511 shares of the company's stock, valued at approximately $1,319,120.61. This represents a 28.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amanda Cavaleri sold 13,000 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $7.97, for a total value of $103,610.00. Following the transaction, the director now owns 140,289 shares of the company's stock, valued at approximately $1,118,103.33. This represents a 8.48% 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 Stock Performance

Shares of CLSK stock traded down $0.24 during trading hours on Thursday, reaching $9.87. The company had a trading volume of 52,065,747 shares, compared to its average volume of 28,387,019. The company has a market capitalization of $2.77 billion, a P/E ratio of 89.74 and a beta of 4.36. CleanSpark, Inc. has a twelve month low of $6.45 and a twelve month high of $20.64. The stock's fifty day simple moving average is $8.25 and its 200 day simple moving average is $10.19.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. HC Wainwright restated a "buy" rating and issued a $27.00 target price on shares of CleanSpark in a report on Friday, February 7th. Keefe, Bruyette & Woods started coverage on CleanSpark in a report on Monday, January 27th. They set an "outperform" rating and a $19.00 price objective on the stock. Chardan Capital assumed coverage on CleanSpark in a research note on Wednesday. They set a "buy" rating and a $20.00 price target on the stock. Needham & Company LLC assumed coverage on CleanSpark in a research note on Wednesday, February 12th. They issued a "buy" rating and a $20.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their price objective on CleanSpark from $17.00 to $12.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $20.71.

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.