Highbridge Capital Management LLC Acquires New Holdings in CleanSpark, Inc. (NASDAQ:CLSK)

Highbridge Capital Management LLC bought a new position in shares of CleanSpark, Inc. (NASDAQ:CLSK) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 52,195 shares of the company’s stock, valued at approximately $481,000.

Several other large investors have also modified their holdings of CLSK. Compagnie Lombard Odier SCmA acquired a new position in shares of CleanSpark during the fourth quarter worth approximately $31,000. GAMMA Investing LLC boosted its holdings in CleanSpark by 962.1% in the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock valued at $36,000 after purchasing an additional 3,579 shares during the period. KBC Group NV boosted its holdings in CleanSpark by 36.5% in the 4th quarter. KBC Group NV now owns 10,103 shares of the company’s stock valued at $93,000 after purchasing an additional 2,700 shares during the period. R Squared Ltd acquired a new stake in CleanSpark in the 4th quarter worth $101,000. Finally, Haven Private LLC bought a new position in shares of CleanSpark during the 4th quarter worth about $108,000. 43.12% of the stock is owned by institutional investors.

Insider Activity

In related news, Chairman S. Matthew Schultz sold 9,010 shares of CleanSpark stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $10.64, for a total value of $95,866.40. Following the completion of the transaction, the chairman now directly owns 2,450,010 shares of the company’s stock, valued at $26,068,106.40. The trade was a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Zachary Bradford sold 10,533 shares of the company’s stock in a transaction dated 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. This trade represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,836 shares of company stock worth $335,945. Insiders own 2.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CLSK. Needham & Company LLC assumed coverage on CleanSpark in a research report on Wednesday, February 12th. They set a “buy” rating and a $20.00 target price on the stock. Keefe, Bruyette & Woods assumed coverage on CleanSpark in a research report on Monday, January 27th. They set an “outperform” rating and a $19.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a report on Friday, February 7th. Macquarie raised their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $21.57.

CleanSpark Stock Performance

Shares of NASDAQ:CLSK opened at $7.84 on Friday. The company’s fifty day moving average is $9.42 and its 200-day moving average is $10.73. CleanSpark, Inc. has a 52 week low of $7.22 and a 52 week high of $24.10. The company has a market capitalization of $2.20 billion, a PE ratio of 71.28 and a beta of 4.20.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate 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 EPS for the current year.

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.