Northern Trust Corp lifted its position in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,419,057 shares of the company's stock after acquiring an additional 163,282 shares during the period. Northern Trust Corp owned 0.86% of CleanSpark worth $22,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new stake in CleanSpark during the 4th quarter worth about $39,940,000. Price T Rowe Associates Inc. MD raised its stake in shares of CleanSpark by 1,018.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,687,022 shares of the company's stock worth $15,538,000 after purchasing an additional 1,536,145 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of CleanSpark during the fourth quarter worth about $13,443,000. Shaolin Capital Management LLC purchased a new stake in CleanSpark in the fourth quarter valued at approximately $8,559,000. Finally, Invesco Ltd. increased its holdings in CleanSpark by 44.2% in the 4th quarter. Invesco Ltd. now owns 2,984,362 shares of the company's stock worth $27,486,000 after buying an additional 914,279 shares during the period. 43.12% of the stock is owned by institutional investors and hedge funds.
CleanSpark Price Performance
CLSK stock traded up $0.42 during midday trading on Friday, hitting $9.78. 29,937,279 shares of the stock traded hands, compared to its average volume of 28,278,788. CleanSpark, Inc. has a 1-year low of $6.45 and a 1-year high of $20.64. The stock's fifty day simple moving average is $8.06 and its 200-day simple moving average is $10.23. The firm has a market cap of $2.75 billion, a P/E ratio of 88.92 and a beta of 4.36.
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 the consensus estimate of $0.03 by ($0.05). CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. The firm had revenue of $181.71 million for the quarter, compared to analysts' expectations of $196.43 million. During the same period in the previous year, the company earned $0.59 earnings per share. The company's revenue was up 62.5% compared to the same quarter last year. On average, research analysts predict that CleanSpark, Inc. will post 0.58 earnings per share for the current year.
Insider Transactions at CleanSpark
In related news, Director Amanda Cavaleri sold 13,000 shares of the company'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 transaction, the director now owns 140,289 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.65% of the company's stock.
Analyst Ratings Changes
CLSK has been the subject of several research reports. Keefe, Bruyette & Woods initiated coverage on shares of CleanSpark in a research note on Monday, January 27th. They set an "outperform" rating and a $19.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on shares of CleanSpark from $17.00 to $12.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Chardan Capital raised shares of CleanSpark to a "strong-buy" rating in a report on Tuesday, April 29th. HC Wainwright reaffirmed a "buy" rating and set a $27.00 price target on shares of CleanSpark in a research report on Friday, February 7th. Finally, Needham & Company LLC initiated coverage on CleanSpark in a report on Wednesday, February 12th. They issued a "buy" rating and a $20.00 price objective for the company. 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 MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $20.83.
Read Our Latest Research Report on CleanSpark
CleanSpark Profile
(
Free Report)
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.
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