Shaolin Capital Management LLC Buys New Stake in CleanSpark, Inc. (NASDAQ:CLSK)

Shaolin Capital Management LLC acquired a new position in shares of CleanSpark, Inc. (NASDAQ:CLSK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 929,300 shares of the company's stock, valued at approximately $8,559,000. Shaolin Capital Management LLC owned about 0.33% of CleanSpark at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CLSK. Barclays PLC increased its position 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 acquiring an additional 305,316 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of CleanSpark by 962.1% during the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock worth $36,000 after buying an additional 3,579 shares during the period. Doliver Advisors LP grew its stake in shares of CleanSpark by 59.6% in the fourth quarter. Doliver Advisors LP now owns 20,000 shares of the company's stock valued at $184,000 after buying an additional 7,470 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of CleanSpark in the 4th quarter valued at $39,940,000. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in CleanSpark by 121.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 46,323 shares of the company's stock worth $427,000 after acquiring an additional 25,444 shares in the last quarter. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CLSK. Needham & Company LLC initiated coverage on shares of CleanSpark in a report on Wednesday, February 12th. They issued a "buy" rating and a $20.00 price objective for the company. Keefe, Bruyette & Woods initiated coverage on CleanSpark in a research note on Monday, January 27th. They issued an "outperform" rating and a $19.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Chardan Capital raised CleanSpark to a "strong-buy" rating in a research report on Tuesday. Finally, 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. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $21.57.

CleanSpark Stock Up 4.7 %

NASDAQ:CLSK traded up $0.41 during mid-day trading on Friday, reaching $9.08. 16,799,283 shares of the stock were exchanged, compared to its average volume of 28,231,791. The stock has a market capitalization of $2.55 billion, a P/E ratio of 82.64 and a beta of 4.12. CleanSpark, Inc. has a 1 year low of $6.45 and a 1 year high of $20.64. The company has a 50 day simple moving average of $7.89 and a 200-day simple moving average of $10.44.

CleanSpark (NASDAQ:CLSK - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. As a group, research analysts predict that CleanSpark, Inc. will post 0.58 EPS for the current year.

Insider Buying and Selling at CleanSpark

In other CleanSpark news, CEO Zachary Bradford sold 10,533 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $112,071.12. Following the transaction, the chief executive officer now owns 3,059,326 shares in the company, valued at approximately $32,551,228.64. The trade was a 0.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman S. Matthew Schultz sold 9,010 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $95,866.40. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,836 shares of company stock valued at $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.