MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Cuts Stake in CleanSpark, Inc. (NASDAQ:CLSK)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its position in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 991,457 shares of the company's stock after selling 65,789 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.35% of CleanSpark worth $9,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CLSK. Barclays PLC raised its stake in shares of CleanSpark by 364.0% during the third quarter. Barclays PLC now owns 389,201 shares of the company's stock valued at $3,634,000 after acquiring an additional 305,316 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of CleanSpark during the fourth quarter valued at approximately $39,940,000. Hennion & Walsh Asset Management Inc. raised its stake in shares of CleanSpark by 121.9% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 46,323 shares of the company's stock valued at $427,000 after acquiring an additional 25,444 shares in the last quarter. Royal Fund Management LLC bought a new stake in shares of CleanSpark during the fourth quarter valued at approximately $147,000. Finally, Secure Asset Management LLC bought a new stake in shares of CleanSpark during the fourth quarter valued at approximately $948,000. Institutional investors own 43.12% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CLSK shares. Keefe, Bruyette & Woods began coverage on shares of CleanSpark in a research note on Monday, January 27th. They set an "outperform" rating and a $19.00 price target for the company. Chardan Capital began coverage on shares of CleanSpark in a report on Wednesday. They set a "buy" rating and a $20.00 price objective on the stock. HC Wainwright reissued a "buy" rating and set a $27.00 price objective on shares of CleanSpark in a report on Friday, February 7th. JPMorgan Chase & Co. cut their price objective on shares of CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Needham & Company LLC began coverage on shares of CleanSpark in a report on Wednesday, February 12th. They set a "buy" rating and a $20.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $20.71.

CleanSpark Stock Down 1.3%

Shares of CLSK traded down $0.13 during trading hours on Thursday, reaching $9.98. 24,969,110 shares of the company traded hands, compared to its average volume of 28,283,598. The stock has a market capitalization of $2.80 billion, a P/E ratio of 91.31 and a beta of 4.36. CleanSpark, Inc. has a 12-month low of $6.45 and a 12-month high of $20.64. The business has a fifty day moving average price of $8.21 and a 200-day moving average price of $10.18.

CleanSpark (NASDAQ:CLSK - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). The business had revenue of $181.71 million for the quarter, compared to analyst estimates of $196.43 million. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. The company's revenue for the quarter was up 62.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. As a group, research analysts predict that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Amanda Cavaleri sold 13,000 shares of the business's stock in a transaction dated Monday, March 24th. The shares were 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 owns 140,289 shares of the company's stock, valued at $1,118,103.33. The trade was a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Roger Paul Beynon sold 50,000 shares of the business'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 represents a 28.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.65% of the company's stock.

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.