CleanSpark (NASDAQ:CLSK) Shares Gap Down to $15.55

CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $15.55, but opened at $15.16. CleanSpark shares last traded at $15.56, with a volume of 3,561,893 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CLSK shares. Cantor Fitzgerald lifted their price objective on shares of CleanSpark from $10.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. upped their target price on CleanSpark from $14.00 to $15.00 and gave the company a "neutral" rating in a research report on Wednesday, April 10th. Chardan Capital reissued a "buy" rating and issued a $26.00 price target on shares of CleanSpark in a report on Monday. TheStreet raised shares of CleanSpark from a "d" rating to a "c-" rating in a research report on Friday, February 9th. Finally, BTIG Research upped their price target on shares of CleanSpark from $12.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, CleanSpark currently has an average rating of "Moderate Buy" and a consensus target price of $19.22.

CleanSpark Trading Down 1.2 %

The business has a fifty day moving average price of $17.52 and a two-hundred day moving average price of $12.37.

Insider Buying and Selling at CleanSpark

In other CleanSpark news, Director Roger Paul Beynon sold 10,976 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total value of $195,921.60. Following the sale, the director now directly owns 141,381 shares of the company's stock, valued at approximately $2,523,650.85. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Roger Paul Beynon sold 10,976 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total transaction of $195,921.60. Following the completion of the sale, the director now owns 141,381 shares in the company, valued at approximately $2,523,650.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Zachary Bradford sold 443,000 shares of the firm's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.31, for a total value of $8,997,330.00. Following the transaction, the chief executive officer now directly owns 2,795,863 shares in the company, valued at approximately $56,783,977.53. The disclosure for this sale can be found here. Insiders sold 1,169,620 shares of company stock valued at $24,963,509 in the last 90 days. Company insiders own 3.46% of the company's stock.

Institutional Trading of CleanSpark

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in shares of CleanSpark by 65.7% during the third quarter. SG Americas Securities LLC now owns 43,734 shares of the company's stock worth $167,000 after purchasing an additional 17,341 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of CleanSpark by 32.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 502,345 shares of the company's stock worth $1,914,000 after buying an additional 124,488 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in CleanSpark during the 3rd quarter worth $79,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of CleanSpark by 0.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 800,059 shares of the company's stock worth $3,048,000 after buying an additional 2,709 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in shares of CleanSpark during the third quarter valued at approximately $60,000. Hedge funds and other institutional investors own 43.12% of the company's stock.

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.