Insider Selling: CleanSpark, Inc. (NASDAQ:CLSK) CEO Sells $8,997,330.00 in Stock

CleanSpark, Inc. (NASDAQ:CLSKGet Free Report) CEO Zachary Bradford sold 443,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.31, for a total value of $8,997,330.00. Following the completion of the sale, the chief executive officer now directly owns 2,795,863 shares of the company’s stock, valued at $56,783,977.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

CleanSpark Price Performance

Shares of CleanSpark stock opened at $19.52 on Friday. CleanSpark, Inc. has a fifty-two week low of $2.38 and a fifty-two week high of $23.45. The business’s fifty day moving average is $13.84 and its two-hundred day moving average is $8.94.

CleanSpark (NASDAQ:CLSKGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.26. The firm had revenue of $73.79 million for the quarter, compared to analyst estimates of $66.06 million. CleanSpark had a negative return on equity of 16.25% and a negative net margin of 38.09%. As a group, equities analysts expect that CleanSpark, Inc. will post -0.42 EPS for the current year.

Analyst Ratings Changes

CLSK has been the topic of several analyst reports. BTIG Research lifted their target price on CleanSpark from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. restated a “neutral” rating and set a $8.00 price objective (down previously from $9.00) on shares of CleanSpark in a research report on Friday, December 8th. TheStreet raised shares of CleanSpark from a “d” rating to a “c-” rating in a report on Friday, February 9th. HC Wainwright increased their price target on shares of CleanSpark from $15.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Chardan Capital raised their price objective on shares of CleanSpark from $13.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, March 4th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.38.

Get Our Latest Analysis on CLSK

Institutional Investors Weigh In On CleanSpark

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in CleanSpark by 6.8% during the fourth quarter. Vanguard Group Inc. now owns 8,048,511 shares of the company’s stock worth $88,775,000 after purchasing an additional 515,314 shares during the period. American International Group Inc. increased its holdings in shares of CleanSpark by 34.9% during the 4th quarter. American International Group Inc. now owns 74,458 shares of the company’s stock worth $821,000 after buying an additional 19,268 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of CleanSpark by 70.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 90,723 shares of the company’s stock worth $1,001,000 after buying an additional 37,571 shares during the period. Legal & General Group Plc boosted its holdings in CleanSpark by 20.6% in the fourth quarter. Legal & General Group Plc now owns 148,856 shares of the company’s stock valued at $1,641,000 after acquiring an additional 25,385 shares during the last quarter. Finally, Barclays PLC grew its position in CleanSpark by 243.8% during the fourth quarter. Barclays PLC now owns 245,942 shares of the company’s stock valued at $2,714,000 after acquiring an additional 174,406 shares during the period. 34.06% of the stock is owned by institutional investors and hedge funds.

CleanSpark Company Profile

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for CleanSpark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CleanSpark and related companies with MarketBeat.com's FREE daily email newsletter.