Matauro LLC Takes Position in CleanSpark, Inc. (NASDAQ:CLSK)

Matauro LLC purchased a new stake in shares of CleanSpark, Inc. (NASDAQ:CLSK) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 79,407 shares of the company’s stock, valued at approximately $731,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CLSK. Compagnie Lombard Odier SCmA bought a new position in CleanSpark in the 4th quarter worth about $31,000. GAMMA Investing LLC grew its position in CleanSpark by 962.1% in the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock worth $36,000 after purchasing an additional 3,579 shares during the last quarter. Hollencrest Capital Management grew its position in CleanSpark by 33.3% in the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $37,000 after purchasing an additional 1,000 shares during the last quarter. KBC Group NV grew its position in CleanSpark by 42.0% in the 3rd quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $69,000 after purchasing an additional 2,190 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in CleanSpark by 21.2% in 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 last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

CleanSpark Price Performance

CleanSpark stock opened at $9.25 on Friday. The firm has a 50 day simple moving average of $10.61 and a 200-day simple moving average of $11.22. The stock has a market capitalization of $2.60 billion, a PE ratio of 84.05 and a beta of 4.24. CleanSpark, Inc. has a 12-month low of $8.04 and a 12-month high of $24.72.

CleanSpark (NASDAQ:CLSK) last issued its 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%. On average, analysts forecast that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, 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 transaction of $95,866.40. Following the completion of the sale, the chairman now directly owns 2,450,010 shares in the company, valued at approximately $26,068,106.40. This trade represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Zachary Bradford sold 10,533 shares of the firm’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 sale, the chief executive officer now owns 3,059,326 shares of the company’s stock, valued at $32,551,228.64. The trade was a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,536 shares of company stock worth $265,748. Corporate insiders own 2.65% of the company’s stock.

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.