UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Holdings in CleanSpark, Inc. (NASDAQ:CLSK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 22.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 512,765 shares of the company’s stock after purchasing an additional 93,086 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in CleanSpark were worth $4,723,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares 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 purchasing an additional 305,316 shares in the last quarter. Virtu Financial LLC purchased a new position in CleanSpark during the fourth quarter worth approximately $338,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in CleanSpark by 68.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 281,783 shares of the company’s stock worth $2,595,000 after purchasing an additional 114,674 shares in the last quarter. Quadrant Capital Group LLC purchased a new position in CleanSpark during the fourth quarter worth approximately $734,000. Finally, Algert Global LLC boosted its position in CleanSpark by 284.1% during the fourth quarter. Algert Global LLC now owns 198,862 shares of the company’s stock worth $1,832,000 after purchasing an additional 147,086 shares in the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

CleanSpark Stock Performance

NASDAQ:CLSK opened at $9.21 on Wednesday. CleanSpark, Inc. has a one year low of $6.45 and a one year high of $20.64. The stock has a market cap of $2.59 billion, a PE ratio of 83.73 and a beta of 4.24. The stock has a 50 day moving average price of $8.42 and a 200 day moving average price of $9.87.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. The company had revenue of $181.71 million during the quarter, compared to analyst estimates of $196.43 million. During the same period in the prior year, the business posted $0.59 EPS. CleanSpark’s revenue for the quarter was up 62.5% compared to the same quarter last year. As a group, analysts predict that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Needham & Company LLC assumed 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 assumed coverage on CleanSpark in a research report on Wednesday, May 21st. They issued a “buy” rating and a $20.00 target price on the stock. 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. Finally, HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research report on Friday, February 7th. Seven research 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 $20.71.

Insider Activity at CleanSpark

In other CleanSpark news, Director Amanda Cavaleri sold 13,000 shares of the firm’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. This trade represents a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roger Paul Beynon sold 50,000 shares of the firm’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $10.51, for a total value of $525,500.00. Following the sale, the director now directly owns 125,511 shares of the company’s stock, valued at approximately $1,319,120.61. This trade represents a 28.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.65% of the company’s stock.

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.