Scott Eugene Garrison Sells 1,337 Shares of CleanSpark, Inc. (NASDAQ:CLSK) Stock

CleanSpark, Inc. (NASDAQ:CLSK) COO Scott Eugene Garrison sold 1,337 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 value of $14,225.68. Following the completion of the transaction, the chief operating officer now directly owns 196,059 shares in the company, valued at approximately $2,086,067.76. This represents a 0.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

CleanSpark Trading Down 1.6 %

NASDAQ:CLSK opened at $10.50 on Monday. CleanSpark, Inc. has a 12-month low of $8.04 and a 12-month high of $24.72. The stock has a 50-day moving average price of $10.89 and a 200 day moving average price of $11.31. The stock has a market capitalization of $2.95 billion, a P/E ratio of 95.46 and a beta of 4.24.

CleanSpark (NASDAQ:CLSK) last released its earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.81% and a net margin of 16.07%. On average, research analysts predict that CleanSpark, Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CLSK has been the topic of a number of recent research reports. Macquarie increased their target price on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Keefe, Bruyette & Woods began coverage on CleanSpark in a report on Monday, January 27th. They issued an “outperform” rating and a $19.00 target price on the stock. Needham & Company LLC assumed coverage on CleanSpark in a research note on Wednesday, February 12th. They issued a “buy” rating and a $20.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. raised CleanSpark from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $10.50 to $17.00 in a research note on Tuesday, December 10th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CleanSpark has a consensus rating of “Buy” and an average price target of $22.25.

Institutional Trading of CleanSpark

Several institutional investors have recently made changes to their positions in CLSK. Quest Partners LLC purchased a new position in CleanSpark during the 3rd quarter valued at approximately $374,000. Kovitz Investment Group Partners LLC grew its holdings in CleanSpark by 85.8% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 184,950 shares of the company’s stock valued at $1,727,000 after buying an additional 85,388 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in CleanSpark by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock valued at $20,500,000 after buying an additional 208,862 shares in the last quarter. Quantbot Technologies LP purchased a new position in CleanSpark during the 3rd quarter valued at approximately $1,960,000. Finally, Clarity Capital Partners LLC grew its holdings in CleanSpark by 100.8% during the 3rd quarter. Clarity Capital Partners LLC now owns 175,056 shares of the company’s stock valued at $1,635,000 after buying an additional 87,891 shares in the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

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.