CleanSpark, Inc. (NASDAQ:CLSK) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 22.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 512,765 shares of the company's stock after purchasing an additional 93,086 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.18% of CleanSpark worth $4,723,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in CleanSpark by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 19,655,746 shares of the company's stock valued at $181,029,000 after buying an additional 495,367 shares during the last quarter. Geode Capital Management LLC raised its stake in CleanSpark by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 6,517,268 shares of the company's stock valued at $60,037,000 after buying an additional 353,807 shares during the last quarter. Invesco Ltd. raised its stake in CleanSpark by 44.2% in the fourth 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 last quarter. Charles Schwab Investment Management Inc. raised its stake in CleanSpark by 12.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,464,861 shares of the company's stock valued at $22,701,000 after buying an additional 270,026 shares during the last quarter. Finally, Northern Trust Corp raised its stake in CleanSpark by 7.2% in the fourth quarter. Northern Trust Corp now owns 2,419,057 shares of the company's stock valued at $22,280,000 after buying an additional 163,282 shares during the last quarter. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at CleanSpark

In related news, Director Roger Paul Beynon sold 50,000 shares of the firm'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 sale, the director now directly owns 125,511 shares of the company's stock, valued at $1,319,120.61. This trade represents a 28.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amanda Cavaleri sold 13,000 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $7.97, for a total value of $103,610.00. Following the sale, the director now directly 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 disclosure for this sale can be found here. Company insiders own 2.65% of the company's stock.

CleanSpark Stock Down 5.4%

Shares of NASDAQ:CLSK traded down $0.51 during trading on Thursday, hitting $9.02. The stock had a trading volume of 22,922,239 shares, compared to its average volume of 28,150,430. CleanSpark, Inc. has a 12-month low of $6.45 and a 12-month high of $20.64. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 82.01 and a beta of 4.24. The stock has a 50-day simple moving average of $8.47 and a two-hundred day simple moving average of $9.86.

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