Intrinsic Edge Capital Management LLC Decreases Stock Holdings in CleanSpark, Inc. (NASDAQ:CLSK)

Intrinsic Edge Capital Management LLC lessened its position in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 66.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,735 shares of the company's stock after selling 168,629 shares during the quarter. Intrinsic Edge Capital Management LLC's holdings in CleanSpark were worth $780,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA bought a new position in shares of CleanSpark during the 4th quarter valued at about $31,000. GAMMA Investing LLC boosted its stake in CleanSpark by 962.1% in the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock worth $36,000 after buying an additional 3,579 shares in the last quarter. Russell Investments Group Ltd. grew 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 acquiring an additional 2,196 shares during the last quarter. KBC Group NV raised its stake in shares of CleanSpark by 36.5% during the fourth 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. Finally, R Squared Ltd bought a new stake in shares of CleanSpark in the 4th quarter worth approximately $101,000. Hedge funds and other institutional investors own 43.12% of the company's stock.

Insiders Place Their Bets

In related news, CEO Zachary Bradford sold 10,533 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $10.64, for a total value of $112,071.12. Following the sale, the chief executive officer now directly owns 3,059,326 shares of the company's stock, valued at $32,551,228.64. This represents a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amanda Cavaleri sold 13,000 shares of the stock in a transaction on Monday, March 24th. The stock was 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 owns 140,289 shares of the company's stock, valued at approximately $1,118,103.33. This trade represents a 8.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,836 shares of company stock worth $335,945. Company insiders own 2.65% of the company's stock.

Analyst Ratings Changes

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

CleanSpark Stock Performance

Shares of CleanSpark stock traded up $0.60 during midday trading on Thursday, reaching $8.77. 14,755,342 shares of the company's stock traded hands, compared to its average volume of 28,243,518. The stock has a 50 day moving average of $7.89 and a 200-day moving average of $10.45. CleanSpark, Inc. has a 12 month low of $6.45 and a 12 month high of $20.64. The company has a market cap of $2.46 billion, a PE ratio of 79.61 and a beta of 4.12.

CleanSpark (NASDAQ:CLSK - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) 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%. On average, equities analysts anticipate that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal 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.