Headlands Technologies LLC Invests $1.30 Million in CleanSpark, Inc. (NASDAQ:CLSK)

Headlands Technologies LLC acquired a new stake in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 117,515 shares of the company's stock, valued at approximately $1,296,000. Headlands Technologies LLC owned approximately 0.06% of CleanSpark as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in CleanSpark by 21.7% in the third quarter. Vanguard Group Inc. now owns 7,533,197 shares of the company's stock valued at $28,701,000 after acquiring an additional 1,345,135 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in CleanSpark by 119.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,757,431 shares of the company's stock valued at $19,384,000 after acquiring an additional 957,372 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in CleanSpark by 273.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,237,533 shares of the company's stock valued at $4,715,000 after acquiring an additional 905,993 shares during the last quarter. Shariaportfolio Inc. acquired a new stake in CleanSpark in the third quarter valued at approximately $3,161,000. Finally, Van ECK Associates Corp lifted its stake in CleanSpark by 39.2% in the third quarter. Van ECK Associates Corp now owns 1,200,176 shares of the company's stock valued at $4,573,000 after acquiring an additional 338,190 shares during the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CLSK. Chardan Capital lifted their target price on shares of CleanSpark from $13.00 to $26.00 and gave the company a "buy" rating in a research note on Monday, March 4th. Cantor Fitzgerald boosted their price objective on shares of CleanSpark from $10.00 to $20.00 and gave the stock an "overweight" rating in a research note on Thursday, March 28th. TheStreet upgraded shares of CleanSpark from a "d" rating to a "c-" rating in a research note on Friday, February 9th. HC Wainwright restated a "buy" rating and issued a $27.00 price objective on shares of CleanSpark in a research note on Monday, April 15th. Finally, BTIG Research boosted their price objective on shares of CleanSpark from $12.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, CleanSpark presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.22.

CleanSpark Trading Down 1.6 %

CLSK stock traded down $0.31 on Friday, reaching $19.23. 19,373,964 shares of the company were exchanged, compared to its average volume of 30,042,572. CleanSpark, Inc. has a 12 month low of $3.33 and a 12 month high of $24.72. The stock's fifty day moving average price is $17.79 and its 200 day moving average price is $11.42.

CleanSpark (NASDAQ:CLSK - Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.26. The firm had revenue of $73.79 million for the quarter, compared to analyst estimates of $66.06 million. CleanSpark had a negative net margin of 38.09% and a negative return on equity of 16.25%. As a group, sell-side analysts predict that CleanSpark, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling at CleanSpark

In other CleanSpark news, CFO Gary Anthony Vecchiarelli sold 26,244 shares of the business's stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $20.93, for a total value of $549,286.92. Following the sale, the chief financial officer now owns 554,391 shares of the company's stock, valued at approximately $11,603,403.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other CleanSpark news, CFO Gary Anthony Vecchiarelli sold 26,244 shares of the business's stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $20.93, for a total value of $549,286.92. Following the sale, the chief financial officer now owns 554,391 shares of the company's stock, valued at approximately $11,603,403.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Roger Paul Beynon sold 10,976 shares of the company's stock in a transaction dated Wednesday, February 14th. The stock was 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 directly owns 141,381 shares in the company, valued at approximately $2,523,650.85. The disclosure for this sale can be found here. Insiders have sold 1,169,620 shares of company stock valued at $24,963,509 in the last 90 days. 3.46% of the stock is currently owned by company 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.