146,460 Shares in CleanSpark, Inc. (NASDAQ:CLSK) Purchased by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. bought a new stake in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 146,460 shares of the company's stock, valued at approximately $1,349,000. SBI Securities Co. Ltd. owned about 0.05% of CleanSpark as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Compagnie Lombard Odier SCmA bought a new stake in CleanSpark during the 4th quarter valued at about $31,000. GAMMA Investing LLC raised its stake in shares of CleanSpark by 962.1% during the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock valued at $36,000 after acquiring an additional 3,579 shares in the last quarter. Hollencrest Capital Management boosted its holdings in shares of CleanSpark by 33.3% in the third quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock valued at $37,000 after purchasing an additional 1,000 shares during the period. KBC Group NV grew its stake in CleanSpark by 42.0% in the third quarter. KBC Group NV now owns 7,403 shares of the company's stock worth $69,000 after purchasing an additional 2,190 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in CleanSpark by 21.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company's stock worth $75,000 after purchasing an additional 1,345 shares during the period. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

CleanSpark Trading Down 4.7 %

CLSK traded down $0.40 during midday trading on Thursday, hitting $8.15. 21,141,301 shares of the company were exchanged, compared to its average volume of 29,533,464. The company's 50 day simple moving average is $10.11 and its 200 day simple moving average is $11.03. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 74.10 and a beta of 4.20. CleanSpark, Inc. has a 1-year low of $7.22 and a 1-year high of $24.72.

CleanSpark (NASDAQ:CLSK - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. On average, equities analysts anticipate that CleanSpark, Inc. will post 0.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CLSK shares. Macquarie raised their price target on CleanSpark from $20.00 to $24.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Needham & Company LLC started coverage on shares of CleanSpark in a research report on Wednesday, February 12th. They set a "buy" rating and a $20.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $27.00 price target on shares of CleanSpark in a research report on Friday, February 7th. JPMorgan Chase & Co. raised shares of CleanSpark from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $10.50 to $17.00 in a report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods began coverage on shares of CleanSpark in a research note on Monday, January 27th. They issued an "outperform" rating and a $19.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, CleanSpark currently has a consensus rating of "Buy" and an average price target of $22.25.

Insider Transactions at CleanSpark

In other news, Chairman S. Matthew Schultz sold 9,010 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.64, for a total transaction of $95,866.40. Following the sale, the chairman now directly owns 2,450,010 shares of the company's stock, valued at $26,068,106.40. This represents a 0.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Zachary Bradford sold 10,533 shares of CleanSpark stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $112,071.12. Following the completion of the transaction, the chief executive officer now owns 3,059,326 shares of the company's stock, valued at approximately $32,551,228.64. This represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,186 shares of company stock valued at $246,375 in the last 90 days. 2.65% of the stock is currently owned by company insiders.

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.