Insider Selling: CleanSpark, Inc. (NASDAQ:CLSK) COO Sells $14,225.68 in Stock

CleanSpark, Inc. (NASDAQ:CLSK) COO Scott Eugene Garrison sold 1,337 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 $14,225.68. Following the completion of the sale, the chief operating officer now owns 196,059 shares of the company’s stock, valued at $2,086,067.76. The trade was a 0.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

CleanSpark Trading Down 1.6 %

NASDAQ CLSK opened at $10.50 on Monday. CleanSpark, Inc. has a 12 month low of $8.04 and a 12 month high of $24.72. The stock has a market cap of $2.95 billion, a P/E ratio of 95.46 and a beta of 4.24. The stock’s fifty day moving average price is $10.89 and its 200-day moving average price is $11.31.

CleanSpark (NASDAQ:CLSK) last released its earnings results on Thursday, February 6th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.81% and a net margin of 16.07%. As a group, analysts forecast that CleanSpark, Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Needham & Company LLC assumed coverage on CleanSpark in a research note on Wednesday, February 12th. They set a “buy” rating and a $20.00 target price on the stock. Macquarie boosted their target price on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised CleanSpark from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $10.50 to $17.00 in a research note on Tuesday, December 10th. HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods assumed coverage on CleanSpark in a research note on Monday, January 27th. They issued an “outperform” rating and a $19.00 price target on the stock. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $22.25.

Institutional Investors Weigh In On CleanSpark

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of CleanSpark by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 19,655,746 shares of the company’s stock worth $181,029,000 after acquiring an additional 495,367 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of CleanSpark by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 6,517,268 shares of the company’s stock valued at $60,037,000 after purchasing an additional 353,807 shares in the last quarter. State Street Corp lifted its holdings in shares of CleanSpark by 4.5% during the third quarter. State Street Corp now owns 6,073,912 shares of the company’s stock valued at $56,730,000 after purchasing an additional 261,195 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of CleanSpark during the fourth quarter valued at $39,940,000. Finally, Invesco Ltd. lifted its holdings in shares of CleanSpark by 44.2% during the fourth quarter. Invesco Ltd. now owns 2,984,362 shares of the company’s stock valued at $27,486,000 after purchasing an additional 914,279 shares in the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

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.