MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Trims Stock Position in CleanSpark, Inc. (NASDAQ:CLSK)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its holdings in CleanSpark, Inc. (NASDAQ:CLSK) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 991,457 shares of the company’s stock after selling 65,789 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.35% of CleanSpark worth $9,131,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC boosted its position in CleanSpark by 364.0% during the third quarter. Barclays PLC now owns 389,201 shares of the company’s stock worth $3,634,000 after acquiring an additional 305,316 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in CleanSpark during the fourth quarter worth approximately $39,940,000. Hennion & Walsh Asset Management Inc. boosted its position in CleanSpark by 121.9% during the fourth 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 during the last quarter. Royal Fund Management LLC acquired a new stake in CleanSpark during the fourth quarter worth approximately $147,000. Finally, Secure Asset Management LLC purchased a new position in CleanSpark during the fourth quarter worth approximately $948,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Insider Buying and Selling at CleanSpark

In other CleanSpark news, Director Amanda Cavaleri sold 13,000 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $7.97, for a total transaction of $103,610.00. Following the completion of the transaction, the director now directly owns 140,289 shares of the company’s stock, valued at $1,118,103.33. The trade was a 8.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.65% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods initiated coverage on shares of CleanSpark in a research note on Monday, January 27th. They set an “outperform” rating and a $19.00 price target on the stock. Chardan Capital raised shares of CleanSpark to a “strong-buy” rating in a report on Tuesday, April 29th. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research report on Friday, February 7th. Needham & Company LLC initiated 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, CleanSpark has an average rating of “Buy” and an average target price of $20.83.

CleanSpark Stock Up 4.5%

CleanSpark stock opened at $9.78 on Friday. The firm has a 50-day moving average price of $8.09 and a two-hundred day moving average price of $10.21. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 88.92 and a beta of 4.36. CleanSpark, Inc. has a 52-week low of $6.45 and a 52-week high of $20.64.

CleanSpark (NASDAQ:CLSK) last posted its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). The firm had revenue of $181.71 million for the quarter, compared to analyst estimates of $196.43 million. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. The company’s revenue for the quarter was up 62.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 earnings per share. Research analysts expect that CleanSpark, Inc. will post 0.58 earnings per share 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.