Schonfeld Strategic Advisors LLC Boosts Stake in CleanSpark, Inc. (NASDAQ:CLSK)

Schonfeld Strategic Advisors LLC lifted its stake in CleanSpark, Inc. (NASDAQ:CLSK - Free Report) by 178.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,287 shares of the company's stock after purchasing an additional 67,477 shares during the period. Schonfeld Strategic Advisors LLC's holdings in CleanSpark were worth $970,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of CleanSpark by 364.0% during the third quarter. Barclays PLC now owns 389,201 shares of the company's stock valued at $3,634,000 after buying an additional 305,316 shares during the period. Virtu Financial LLC bought a new stake in shares of CleanSpark in the 4th quarter valued at about $338,000. Assenagon Asset Management S.A. purchased a new stake in shares of CleanSpark in the 4th quarter worth approximately $39,940,000. Quadrant Capital Group LLC purchased a new position in CleanSpark during the fourth quarter valued at approximately $734,000. Finally, Hennion & Walsh Asset Management Inc. raised its stake in CleanSpark by 121.9% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 46,323 shares of the company's stock worth $427,000 after buying an additional 25,444 shares in the last quarter. Hedge funds and other institutional investors own 43.12% of the company's stock.

CleanSpark Trading Up 5.9 %

Shares of NASDAQ CLSK traded up $0.51 during midday trading on Friday, reaching $9.19. The company had a trading volume of 49,783,148 shares, compared to its average volume of 28,288,196. The stock has a market cap of $2.58 billion, a P/E ratio of 83.55 and a beta of 4.36. CleanSpark, Inc. has a 1 year low of $6.45 and a 1 year high of $20.64. The business's 50-day simple moving average is $7.96 and its 200 day simple moving average is $10.28.

CleanSpark (NASDAQ:CLSK - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share for the quarter, beating 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%. Analysts predict that CleanSpark, Inc. will post 0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CLSK shares. Needham & Company LLC began coverage on CleanSpark in a research report on Wednesday, February 12th. They issued a "buy" rating and a $20.00 price target for the company. Chardan Capital upgraded shares of CleanSpark to a "strong-buy" rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. reduced their price objective on shares of CleanSpark from $17.00 to $12.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. HC Wainwright reissued a "buy" rating and set a $27.00 target price on shares of CleanSpark in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a report on Monday, January 27th. They issued an "outperform" rating and a $19.00 price target on the stock. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, CleanSpark currently has a consensus rating of "Buy" and a consensus price target of $21.57.

Insider Buying and Selling

In other news, CEO Zachary Bradford sold 10,533 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $112,071.12. Following the sale, the chief executive officer now directly owns 3,059,326 shares of the company's stock, valued at $32,551,228.64. This represents a 0.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman S. Matthew Schultz sold 9,010 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $95,866.40. Following the transaction, the chairman now directly owns 2,450,010 shares of the company's stock, valued at approximately $26,068,106.40. This trade represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,836 shares of company stock worth $335,945. 2.65% of the stock is 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.