CleanSpark, Inc. (NASDAQ:CLSK) Position Trimmed by Centric Wealth Management

Centric Wealth Management lowered its stake in CleanSpark, Inc. (NASDAQ:CLSK) by 50.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,000 shares of the company’s stock after selling 10,000 shares during the period. Centric Wealth Management’s holdings in CleanSpark were worth $92,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of CLSK. Compagnie Lombard Odier SCmA acquired a new position in shares of CleanSpark in the 4th quarter worth $31,000. GAMMA Investing LLC boosted its position in shares of 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 increased its stake in CleanSpark by 36.5% in the 4th quarter. KBC Group NV now owns 10,103 shares of the company’s stock worth $93,000 after purchasing an additional 2,700 shares in the last quarter. R Squared Ltd acquired a new stake in CleanSpark during the 4th quarter worth about $101,000. Finally, Haven Private LLC acquired a new stake in CleanSpark during the 4th quarter worth about $108,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Keefe, Bruyette & Woods initiated coverage on shares of 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 set a $27.00 target price on shares of CleanSpark in a research note on Friday, February 7th. Chardan Capital raised CleanSpark to a “strong-buy” rating in a research report on Monday, March 24th. Finally, Macquarie upped their price target on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CleanSpark has an average rating of “Buy” and an average price target of $21.57.

CleanSpark Trading Down 6.5 %

Shares of NASDAQ:CLSK opened at $6.72 on Tuesday. The business has a fifty day simple moving average of $9.22 and a 200 day simple moving average of $10.72. CleanSpark, Inc. has a 1 year low of $6.59 and a 1 year high of $21.39. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 61.10 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 negative return on equity of 2.61% and a net margin of 16.07%. On average, sell-side analysts forecast that CleanSpark, Inc. will post 0.58 EPS for the current year.

Insider Buying and Selling at CleanSpark

In other news, CEO Zachary Bradford sold 10,533 shares of CleanSpark 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 $32,551,228.64. This trade represents a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amanda Cavaleri sold 13,000 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $7.97, for a total transaction of $103,610.00. Following the completion of the sale, the director now owns 140,289 shares of the company’s stock, valued at $1,118,103.33. The trade was a 8.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,836 shares of company stock worth $335,945 over the last ninety days. 2.65% of the stock is currently owned by insiders.

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.