First Trust Advisors LP Purchases 161,147 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

First Trust Advisors LP boosted its position in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 44.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 526,759 shares of the company's stock after purchasing an additional 161,147 shares during the quarter. First Trust Advisors LP owned about 0.19% of CleanSpark worth $4,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Barclays PLC raised its position in shares of CleanSpark by 364.0% in the third quarter. Barclays PLC now owns 389,201 shares of the company's stock worth $3,634,000 after buying an additional 305,316 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of CleanSpark by 962.1% in the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock valued at $36,000 after acquiring an additional 3,579 shares in the last quarter. Doliver Advisors LP boosted its position in shares of CleanSpark by 59.6% during the 4th quarter. Doliver Advisors LP now owns 20,000 shares of the company's stock valued at $184,000 after acquiring an additional 7,470 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of CleanSpark during the fourth quarter worth about $39,940,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of CleanSpark by 121.9% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 46,323 shares of the company's stock worth $427,000 after purchasing an additional 25,444 shares during the last quarter. 43.12% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Zachary Bradford sold 10,533 shares of CleanSpark stock in a transaction on Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $112,071.12. Following the sale, the chief executive officer now owns 3,059,326 shares in the company, valued at $32,551,228.64. The trade was a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, the director now owns 140,289 shares of the company's stock, valued at $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. Insiders have sold a total of 34,836 shares of company stock valued at $335,945 in the last quarter. Insiders own 2.65% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on CLSK shares. HC Wainwright reissued a "buy" rating and issued a $27.00 price target on shares of CleanSpark in a research note on Friday, February 7th. Chardan Capital raised CleanSpark to a "strong-buy" rating in a research note on Tuesday. JPMorgan Chase & Co. lowered their price target on CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Needham & Company LLC started coverage on CleanSpark in a report on Wednesday, February 12th. They issued a "buy" rating and a $20.00 price objective for the company. Finally, Keefe, Bruyette & Woods began coverage on CleanSpark in a research report on Monday, January 27th. They issued an "outperform" rating and a $19.00 target price for the company. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, CleanSpark currently has an average rating of "Buy" and a consensus price target of $21.57.

CleanSpark Price Performance

CLSK opened at $8.67 on Friday. The stock's 50 day simple moving average is $7.89 and its 200 day simple moving average is $10.44. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 78.83 and a beta of 4.12. CleanSpark, Inc. has a 1 year low of $6.45 and a 1 year high of $20.64.

CleanSpark (NASDAQ:CLSK - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. As a group, sell-side analysts anticipate that CleanSpark, Inc. will post 0.58 EPS for the current year.

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.

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