CleanSpark, Inc. (NASDAQ:CLSK) Holdings Reduced by Van ECK Associates Corp

Van ECK Associates Corp trimmed its position in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 21.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 937,907 shares of the company's stock after selling 262,269 shares during the quarter. Van ECK Associates Corp owned approximately 0.48% of CleanSpark worth $10,345,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC grew its position in CleanSpark by 65.7% during the third quarter. SG Americas Securities LLC now owns 43,734 shares of the company's stock valued at $167,000 after buying an additional 17,341 shares during the period. Bank of New York Mellon Corp lifted its holdings in CleanSpark by 32.9% during the third quarter. Bank of New York Mellon Corp now owns 502,345 shares of the company's stock valued at $1,914,000 after purchasing an additional 124,488 shares in the last quarter. Shariaportfolio Inc. purchased a new position in CleanSpark during the third quarter valued at $3,161,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in CleanSpark during the third quarter valued at $79,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in CleanSpark by 0.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 800,059 shares of the company's stock valued at $3,048,000 after purchasing an additional 2,709 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CleanSpark

In other CleanSpark news, CFO Gary Anthony Vecchiarelli sold 26,244 shares of CleanSpark stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $20.93, for a total transaction of $549,286.92. Following the completion of the sale, the chief financial officer now directly owns 554,391 shares in the company, valued at $11,603,403.63. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Gary Anthony Vecchiarelli sold 26,244 shares of CleanSpark stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 554,391 shares in the company, valued at $11,603,403.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Zachary Bradford sold 443,000 shares of CleanSpark stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.31, for a total transaction of $8,997,330.00. Following the completion of the transaction, the chief executive officer now owns 2,795,863 shares of the company's stock, valued at approximately $56,783,977.53. The disclosure for this sale can be found here. Insiders sold a total of 1,169,620 shares of company stock worth $24,963,509 over the last three months. Insiders own 3.46% of the company's stock.

CleanSpark Price Performance

CleanSpark stock traded up $0.21 during midday trading on Friday, hitting $16.15. 24,903,629 shares of the stock were exchanged, compared to its average volume of 34,167,855. CleanSpark, Inc. has a fifty-two week low of $3.38 and a fifty-two week high of $24.72. The stock's 50-day simple moving average is $17.77 and its 200 day simple moving average is $11.75.

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

Wall Street Analyst Weigh In

CLSK has been the topic of several research reports. Cantor Fitzgerald raised their price target 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. HC Wainwright reissued a "buy" rating and issued a $27.00 price target on shares of CleanSpark in a research note on Monday, April 15th. TheStreet raised shares of CleanSpark from a "d" rating to a "c-" rating in a research note on Friday, February 9th. BTIG Research raised their price target 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. Finally, Chardan Capital raised their price target on shares of CleanSpark from $13.00 to $26.00 and gave the stock a "buy" rating in a research note on Monday, March 4th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, CleanSpark currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.22.

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.