Shaolin Capital Management LLC Makes New Investment in CleanSpark, Inc. (NASDAQ:CLSK)

Shaolin Capital Management LLC bought a new stake in CleanSpark, Inc. (NASDAQ:CLSK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 929,300 shares of the company’s stock, valued at approximately $8,559,000. Shaolin Capital Management LLC owned 0.33% of CleanSpark as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new stake in CleanSpark in the fourth quarter worth about $39,940,000. Price T Rowe Associates Inc. MD raised its stake in CleanSpark by 1,018.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,687,022 shares of the company’s stock valued at $15,538,000 after buying an additional 1,536,145 shares during the last quarter. Jump Financial LLC purchased a new position in CleanSpark during the fourth quarter valued at $13,443,000. Invesco Ltd. boosted its holdings in CleanSpark by 44.2% in the fourth quarter. Invesco Ltd. now owns 2,984,362 shares of the company’s stock worth $27,486,000 after acquiring an additional 914,279 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of CleanSpark by 40.0% in the fourth quarter. Van ECK Associates Corp now owns 2,227,199 shares of the company’s stock worth $20,513,000 after acquiring an additional 636,511 shares during the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

CleanSpark Price Performance

Shares of CLSK opened at $9.01 on Friday. CleanSpark, Inc. has a one year low of $6.45 and a one year high of $20.64. The business has a fifty day moving average of $7.97 and a 200 day moving average of $10.48. The firm has a market capitalization of $2.53 billion, a P/E ratio of 81.92 and a beta of 4.12.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) 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%. Analysts expect that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling at CleanSpark

In other news, Chairman S. Matthew Schultz sold 9,010 shares of the firm’s 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 transaction, the chairman now owns 2,450,010 shares of the company’s stock, valued at $26,068,106.40. This trade represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Zachary Bradford sold 10,533 shares of the business’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 $112,071.12. Following the transaction, the chief executive officer now owns 3,059,326 shares of the company’s stock, valued at approximately $32,551,228.64. This trade represents 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 34,836 shares of company stock valued at $335,945. Insiders own 2.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CLSK shares. Needham & Company LLC began coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They issued a “buy” rating and a $20.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research note on Friday, February 7th. Chardan Capital raised shares of CleanSpark to a “strong-buy” rating in a research report on Monday, March 24th. Keefe, Bruyette & Woods began coverage on CleanSpark in a research report on Monday, January 27th. They issued an “outperform” rating and a $19.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their target price on CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CleanSpark currently has a consensus rating of “Buy” and a consensus target price of $21.57.

CleanSpark Company 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.