Stevens Capital Management LP Takes $259,000 Position in CleanSpark, Inc. (NASDAQ:CLSK)

Stevens Capital Management LP purchased a new position in shares of CleanSpark, Inc. (NASDAQ:CLSK) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 28,100 shares of the company’s stock, valued at approximately $259,000.

Several other large investors also recently bought and sold shares of CLSK. FMR LLC boosted its holdings in shares of CleanSpark by 5.0% during the 3rd quarter. FMR LLC now owns 24,729 shares of the company’s stock worth $231,000 after purchasing an additional 1,170 shares during the last quarter. Victory Capital Management Inc. boosted its stake in CleanSpark by 2.6% during the third quarter. Victory Capital Management Inc. now owns 67,981 shares of the company’s stock worth $635,000 after buying an additional 1,709 shares during the last quarter. Sigma Planning Corp grew its holdings in CleanSpark by 11.9% in the 4th quarter. Sigma Planning Corp now owns 17,518 shares of the company’s stock valued at $161,000 after buying an additional 1,865 shares in the last quarter. KBC Group NV increased its stake in shares of 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 acquiring an additional 2,700 shares during the last quarter. Finally, Xponance Inc. raised its holdings in shares of CleanSpark by 19.2% during the 4th quarter. Xponance Inc. now owns 17,901 shares of the company’s stock worth $165,000 after acquiring an additional 2,886 shares during the period. Hedge funds and other institutional investors own 43.12% of the company’s stock.

CleanSpark Stock Performance

NASDAQ:CLSK opened at $8.79 on Tuesday. The stock has a market capitalization of $2.47 billion, a P/E ratio of 79.92 and a beta of 4.20. CleanSpark, Inc. has a fifty-two week low of $7.22 and a fifty-two week high of $24.72. The company has a 50 day moving average price of $9.58 and a 200 day moving average price of $10.76.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings results 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 negative return on equity of 2.61% and a net margin of 16.07%. Research analysts forecast that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at CleanSpark

In related 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 completion of the transaction, the chief executive officer now owns 3,059,326 shares in the company, valued at approximately $32,551,228.64. The trade was a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman S. Matthew Schultz sold 9,010 shares of the firm’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 completion of the transaction, the chairman now directly owns 2,450,010 shares of the company’s stock, valued at $26,068,106.40. This represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,186 shares of company stock valued at $349,985 in the last three months. 2.65% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CLSK has been the subject of a number of analyst reports. Macquarie upped their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Needham & Company LLC started coverage on shares of CleanSpark in a report on Wednesday, February 12th. They set a “buy” rating and a $20.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of CleanSpark in a research report on Friday, February 7th. Keefe, Bruyette & Woods started coverage on CleanSpark in a research report on Monday, January 27th. They issued an “outperform” rating and a $19.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $21.57.

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.