CleanSpark, Inc. (NASDAQ:CLSK) Shares Purchased by Northern Trust Corp

Northern Trust Corp raised its position in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,419,057 shares of the company's stock after acquiring an additional 163,282 shares during the quarter. Northern Trust Corp owned approximately 0.86% of CleanSpark worth $22,280,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its stake in CleanSpark by 7.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 149,645 shares of the company's stock worth $1,378,000 after acquiring an additional 10,451 shares during the last quarter. Beacon Pointe Advisors LLC raised its holdings in CleanSpark by 81.8% during the fourth quarter. Beacon Pointe Advisors LLC now owns 100,000 shares of the company's stock worth $921,000 after purchasing an additional 45,000 shares in the last quarter. Shaolin Capital Management LLC acquired a new stake in CleanSpark during the fourth quarter worth approximately $8,559,000. Aquatic Capital Management LLC acquired a new stake in CleanSpark during the fourth quarter worth approximately $1,745,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in CleanSpark during the fourth quarter worth approximately $115,000. Hedge funds and other institutional investors own 43.12% of the company's stock.

CleanSpark Trading Up 4.5%

Shares of CleanSpark stock traded up $0.42 during trading on Friday, reaching $9.78. The company's stock had a trading volume of 29,937,279 shares, compared to its average volume of 28,287,781. The firm has a market cap of $2.75 billion, a PE ratio of 88.92 and a beta of 4.36. The company has a 50-day moving average price of $8.09 and a two-hundred day moving average price of $10.19. CleanSpark, Inc. has a fifty-two week low of $6.45 and a fifty-two week high of $20.64.

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

Insider Transactions at CleanSpark

In other news, Director Amanda Cavaleri sold 13,000 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $7.97, for a total transaction of $103,610.00. Following the transaction, the director now directly owns 140,289 shares of the company's stock, valued at $1,118,103.33. This represents a 8.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CLSK. Chardan Capital raised shares of CleanSpark to a "strong-buy" rating in a report on Tuesday, April 29th. 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. Keefe, Bruyette & Woods began coverage on shares of CleanSpark in a report on Monday, January 27th. They set an "outperform" rating and a $19.00 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. Finally, Needham & Company LLC assumed coverage on shares of CleanSpark in a report on Wednesday, February 12th. They issued a "buy" rating and a $20.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, CleanSpark has an average rating of "Buy" and a consensus target price of $20.83.

CleanSpark 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.