CleanSpark, Inc. (NASDAQ:CLSK) Position Cut by Titleist Asset Management LLC

Titleist Asset Management LLC decreased its position in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 14.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 144,165 shares of the company’s stock after selling 25,171 shares during the quarter. Titleist Asset Management LLC owned about 0.05% of CleanSpark worth $1,328,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Compagnie Lombard Odier SCmA bought a new stake in CleanSpark during the 4th quarter valued at $31,000. GAMMA Investing LLC raised its stake in shares of CleanSpark by 962.1% during the fourth 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 in the last quarter. Russell Investments Group Ltd. lifted its holdings in CleanSpark by 60.0% in the fourth quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company’s stock worth $54,000 after purchasing an additional 2,196 shares during the period. KBC Group NV grew its position in CleanSpark by 36.5% in the 4th quarter. KBC Group NV now owns 10,103 shares of the company’s stock valued at $93,000 after buying an additional 2,700 shares in the last quarter. Finally, R Squared Ltd acquired a new position in CleanSpark during the 4th quarter valued at about $101,000. Institutional investors own 43.12% of the company’s stock.

CleanSpark Trading Down 1.2 %

NASDAQ CLSK opened at $7.32 on Friday. CleanSpark, Inc. has a 1 year low of $6.50 and a 1 year high of $21.39. The company has a market cap of $2.06 billion, a PE ratio of 66.55 and a beta of 4.12. The stock’s 50-day moving average price is $8.93 and its two-hundred day moving average price is $10.66.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. Research analysts forecast that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

Insider Transactions at CleanSpark

In related news, Chairman S. Matthew Schultz sold 9,010 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $10.64, for a total value of $95,866.40. Following the completion of the sale, the chairman now directly owns 2,450,010 shares of the company’s stock, valued at approximately $26,068,106.40. This represents a 0.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 3,059,326 shares in the company, valued at approximately $32,551,228.64. This trade represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,836 shares of company stock valued at $335,945 over the last quarter. Company insiders own 2.65% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CLSK shares. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a report on Friday, February 7th. JPMorgan Chase & Co. decreased their price target on CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Needham & Company LLC initiated coverage on CleanSpark in a research note on Wednesday, February 12th. They issued a “buy” rating and a $20.00 price objective on the stock. Chardan Capital raised CleanSpark to a “strong-buy” rating in a research note on Monday, March 24th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of CleanSpark in a report on Monday, January 27th. They issued an “outperform” rating and a $19.00 price target for the company. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $21.57.

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.