CleanSpark, Inc. (NASDAQ:CLSK) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP cut its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 34.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Compagnie Lombard Odier SCmA purchased a new stake in CleanSpark in the fourth quarter valued at approximately $31,000. Russell Investments Group Ltd. raised its holdings in shares of CleanSpark by 60.0% in the 4th 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 lifted its stake in CleanSpark by 36.5% during the 4th quarter. KBC Group NV now owns 10,103 shares of the company's stock worth $93,000 after acquiring an additional 2,700 shares in the last quarter. Farringdon Capital Ltd. acquired a new position in CleanSpark in the 4th quarter valued at about $105,000. Finally, Haven Private LLC purchased a new stake in CleanSpark during the fourth quarter worth about $108,000. 43.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on CLSK shares. 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 price objective for the company. Chardan Capital began coverage on shares of CleanSpark in a research note on Wednesday, May 21st. They issued a "buy" rating and a $20.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price objective on CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $20.71.

Insider Transactions at CleanSpark

In other news, Director Amanda Cavaleri sold 13,000 shares of the company's stock in a transaction 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 completion of the sale, the director now directly owns 140,289 shares in the company, valued at $1,118,103.33. This represents a 8.48% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 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. This trade represents a 28.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.65% of the company's stock.

CleanSpark Price Performance

Shares of CLSK traded down $0.26 during mid-day trading on Thursday, reaching $9.71. The company's stock had a trading volume of 19,356,158 shares, compared to its average volume of 28,046,718. The stock has a market cap of $2.73 billion, a PE ratio of 88.28 and a beta of 4.23. CleanSpark, Inc. has a 12-month low of $6.45 and a 12-month high of $20.64. The company's 50 day moving average is $8.71 and its 200 day moving average is $9.72.

CleanSpark (NASDAQ:CLSK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.02) 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 business had revenue of $181.71 million during the quarter, compared to analyst estimates of $196.43 million. During the same period in the previous year, the firm earned $0.59 earnings per share. The business's revenue was up 62.5% compared to the same quarter last year. As a group, sell-side analysts anticipate 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.