United Advisor Group LLC Purchases 36,370 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

United Advisor Group LLC grew its position in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 144.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,550 shares of the company's stock after purchasing an additional 36,370 shares during the period. United Advisor Group LLC's holdings in CleanSpark were worth $567,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CLSK. Barclays PLC lifted its position in shares of CleanSpark by 364.0% in the 3rd quarter. Barclays PLC now owns 389,201 shares of the company's stock worth $3,634,000 after buying an additional 305,316 shares during the last quarter. Virtu Financial LLC acquired a new stake in CleanSpark in the fourth quarter worth approximately $338,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in CleanSpark by 68.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 281,783 shares of the company's stock valued at $2,595,000 after acquiring an additional 114,674 shares during the last quarter. Quadrant Capital Group LLC acquired a new stake in CleanSpark in the 4th quarter valued at about $734,000. Finally, Algert Global LLC raised its holdings in CleanSpark by 284.1% during the 4th quarter. Algert Global LLC now owns 198,862 shares of the company's stock worth $1,832,000 after buying an additional 147,086 shares during the period. Institutional investors own 43.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Needham & Company LLC began coverage on CleanSpark in a report on Wednesday, February 12th. They issued a "buy" rating and a $20.00 target price on the stock. HC Wainwright reissued a "buy" rating and set a $27.00 price objective on shares of CleanSpark in a research report on Friday, February 7th. JPMorgan Chase & Co. reduced their price objective on CleanSpark from $17.00 to $12.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Chardan Capital assumed coverage on shares of CleanSpark in a research report on Wednesday, May 21st. They issued a "buy" rating and a $20.00 price target for the company. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $20.71.

CleanSpark Price Performance

CLSK stock traded down $0.75 during trading hours on Wednesday, reaching $9.11. The stock had a trading volume of 23,778,886 shares, compared to its average volume of 28,248,262. CleanSpark, Inc. has a fifty-two week low of $6.45 and a fifty-two week high of $20.64. The stock has a market capitalization of $2.56 billion, a PE ratio of 82.83 and a beta of 4.36. The stock has a 50-day simple moving average of $8.38 and a 200 day simple moving average of $10.10.

CleanSpark (NASDAQ:CLSK - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) earnings per share 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 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 in the previous year, the business earned $0.59 EPS. On average, sell-side analysts forecast that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Amanda Cavaleri sold 13,000 shares of CleanSpark 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Roger Paul Beynon sold 50,000 shares of CleanSpark stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $10.51, for a total value of $525,500.00. Following the sale, the director now owns 125,511 shares in the company, valued at $1,319,120.61. This trade represents a 28.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.65% of the stock is owned by corporate insiders.

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.