34,724 Shares in CleanSpark, Inc. (NASDAQ:CLSK) Bought by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC purchased a new position in CleanSpark, Inc. (NASDAQ:CLSK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 34,724 shares of the company’s stock, valued at approximately $320,000.

A number of other hedge funds also recently modified their holdings of the stock. ProShare Advisors LLC increased its position in shares of CleanSpark by 61.5% in the fourth quarter. ProShare Advisors LLC now owns 71,198 shares of the company’s stock worth $656,000 after purchasing an additional 27,125 shares during the period. Parkwood LLC bought a new position in shares of CleanSpark in the fourth quarter worth $829,000. Nuveen Asset Management LLC increased its position in shares of CleanSpark by 5.5% in the fourth quarter. Nuveen Asset Management LLC now owns 632,229 shares of the company’s stock worth $5,823,000 after purchasing an additional 32,907 shares during the period. Janus Henderson Group PLC grew its position in CleanSpark by 10.1% in the fourth quarter. Janus Henderson Group PLC now owns 115,300 shares of the company’s stock valued at $1,061,000 after acquiring an additional 10,600 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in CleanSpark by 147.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 93,023 shares of the company’s stock valued at $857,000 after acquiring an additional 55,424 shares during the last quarter. Institutional investors own 43.12% of the company’s stock.

Insider Activity

In other news, Director Amanda Cavaleri sold 13,000 shares of CleanSpark stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $7.97, for a total transaction of $103,610.00. Following the sale, the director now directly owns 140,289 shares of the company’s stock, valued at approximately $1,118,103.33. This trade represents a 8.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.65% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CLSK shares. Keefe, Bruyette & Woods started coverage on CleanSpark in a research report on Monday, January 27th. They issued an “outperform” rating and a $19.00 target price on the stock. HC Wainwright reiterated 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 started coverage on CleanSpark in a research report on Wednesday, February 12th. They issued a “buy” rating and a $20.00 target price on the stock. Chardan Capital upgraded CleanSpark to a “strong-buy” rating in a research report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. decreased their target price on CleanSpark from $17.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $20.83.

CleanSpark Trading Up 4.5%

Shares of CLSK stock opened at $9.78 on Monday. The business’s 50-day moving average price is $8.09 and its 200-day moving average price is $10.19. CleanSpark, Inc. has a 12 month low of $6.45 and a 12 month high of $20.64. 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 (NASDAQ:CLSK) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. The firm had revenue of $181.71 million for the quarter, compared to analyst estimates of $196.43 million. During the same period in the previous year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was up 62.5% compared to the same quarter last year. On average, sell-side analysts predict that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal 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.