SRN Advisors LLC Sells 135,000 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

SRN Advisors LLC reduced its position in CleanSpark, Inc. (NASDAQ:CLSK) by 51.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,427 shares of the company’s stock after selling 135,000 shares during the period. SRN Advisors LLC’s holdings in CleanSpark were worth $1,164,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Shariaportfolio Inc. lifted its stake in shares of CleanSpark by 18.1% in the fourth quarter. Shariaportfolio Inc. now owns 771,810 shares of the company’s stock valued at $7,108,000 after buying an additional 118,317 shares in the last quarter. Sigma Planning Corp raised its holdings in shares of CleanSpark by 11.9% in the 4th quarter. Sigma Planning Corp now owns 17,518 shares of the company’s stock worth $161,000 after acquiring an additional 1,865 shares during the last quarter. Matauro LLC bought a new position in CleanSpark in the 4th quarter valued at about $731,000. Ieq Capital LLC acquired a new position in CleanSpark during the 4th quarter valued at about $430,000. Finally, Global Retirement Partners LLC increased its holdings in CleanSpark by 5,920.0% during the 4th quarter. Global Retirement Partners LLC now owns 15,050 shares of the company’s stock worth $139,000 after purchasing an additional 14,800 shares in the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at CleanSpark

In other news, CEO Zachary Bradford sold 10,533 shares of CleanSpark stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $112,071.12. Following the completion of the transaction, the chief executive officer now owns 3,059,326 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Also, Chairman S. Matthew Schultz sold 9,010 shares of the company’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 transaction of $95,866.40. Following the sale, the chairman now owns 2,450,010 shares in the company, valued at $26,068,106.40. The trade was a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,536 shares of company stock worth $265,748. Insiders own 2.65% of the company’s stock.

CleanSpark Stock Performance

Shares of NASDAQ:CLSK opened at $7.88 on Thursday. The company has a market capitalization of $2.21 billion, a P/E ratio of 71.64 and a beta of 4.25. The company’s 50-day moving average is $10.46 and its 200 day moving average is $11.17. CleanSpark, Inc. has a fifty-two week low of $7.70 and a fifty-two week high of $24.72.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. As a group, research analysts predict that CleanSpark, Inc. will post 0.58 earnings per share for the current year.

About CleanSpark

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.