Two Sigma Investments LP Cuts Position in CleanSpark, Inc. (NASDAQ:CLSK)

Two Sigma Investments LP cut its stake in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 34.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,911 shares of the company's stock after selling 29,790 shares during the period. Two Sigma Investments LP's holdings in CleanSpark were worth $533,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CLSK. Compagnie Lombard Odier SCmA purchased a new position in CleanSpark in the fourth quarter worth $31,000. Russell Investments Group Ltd. boosted its position in CleanSpark by 60.0% during the fourth quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company's stock valued at $54,000 after buying an additional 2,196 shares during the period. KBC Group NV boosted its position in CleanSpark by 36.5% during the fourth 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 during the period. Farringdon Capital Ltd. purchased a new stake in CleanSpark during the fourth quarter valued at about $105,000. Finally, Haven Private LLC purchased a new stake in CleanSpark during the fourth quarter valued at about $108,000. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Amanda Cavaleri sold 13,000 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $7.97, for a total value of $103,610.00. Following the completion of the transaction, the director now directly owns 140,289 shares of the company's stock, valued at $1,118,103.33. This represents a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Roger Paul Beynon sold 50,000 shares of the 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 completion of the transaction, the director now directly 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.

Analyst Ratings Changes

Several analysts have issued reports on CLSK shares. Needham & Company LLC started coverage on shares of CleanSpark in a research report on Wednesday, February 12th. They set a "buy" rating and a $20.00 price target for the company. Chardan Capital started coverage on shares of CleanSpark in a research report on Wednesday, May 21st. They set a "buy" rating and a $20.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price target on shares of CleanSpark from $17.00 to $12.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $20.71.

CleanSpark Trading Up 8.5%

Shares of NASDAQ:CLSK opened at $9.79 on Monday. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 89.01 and a beta of 4.23. The company has a 50-day moving average price of $8.56 and a 200-day moving average price of $9.75. CleanSpark, Inc. has a 12 month low of $6.45 and a 12 month high of $20.64.

CleanSpark (NASDAQ:CLSK - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate 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 net margin of 16.07% and a negative return on equity of 2.61%. The business's revenue was up 62.5% on a year-over-year basis. During the same period last year, the company posted $0.59 earnings per share. As a group, research analysts forecast that CleanSpark, Inc. will post 0.58 EPS for the current fiscal 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.

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