Taylor Monnig Sells 1,350 Shares of CleanSpark, Inc. (NASDAQ:CLSK) Stock

CleanSpark, Inc. (NASDAQ:CLSK) CTO Taylor Monnig sold 1,350 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $16.03, for a total value of $21,640.50. Following the transaction, the chief technology officer now owns 213,702 shares of the company’s stock, valued at approximately $3,425,643.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Taylor Monnig also recently made the following trade(s):

• On Friday, May 31st, Taylor Monnig sold 1,350 shares of CleanSpark stock. The stock was sold at an average price of $16.65, for a total value of $22,477.50.

CleanSpark Price Performance

NASDAQ CLSK opened at $15.95 on Friday. The stock has a fifty day moving average of $17.18 and a 200-day moving average of $15.04. CleanSpark, Inc. has a 52 week low of $3.38 and a 52 week high of $24.72.

CleanSpark (NASDAQ:CLSK) last released its earnings results on Thursday, May 9th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.06 by $0.07. The company had revenue of $111.80 million during the quarter, compared to analysts’ expectations of $111.11 million. CleanSpark had a negative return on equity of 6.30% and a net margin of 22.41%. On average, sell-side analysts anticipate that CleanSpark, Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CleanSpark

Several hedge funds and other institutional investors have recently made changes to their positions in CLSK. American Capital Advisory LLC acquired a new stake in shares of CleanSpark during the first quarter worth $32,000. Russell Investments Group Ltd. grew its stake in shares of CleanSpark by 36.8% during the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after purchasing an additional 787 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of CleanSpark during the first quarter worth $109,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of CleanSpark during the third quarter worth $30,000. Finally, VitalStone Financial LLC grew its stake in shares of CleanSpark by 952.7% during the third quarter. VitalStone Financial LLC now owns 8,895 shares of the company’s stock worth $33,000 after purchasing an additional 8,050 shares during the period. 43.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on CLSK. Chardan Capital restated a “buy” rating and set a $26.00 target price on shares of CleanSpark in a research report on Monday, May 13th. JPMorgan Chase & Co. cut their target price on CleanSpark from $15.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, June 4th. BTIG Research lifted their price objective on CleanSpark from $12.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a research report on Friday. Finally, Cantor Fitzgerald upgraded CleanSpark to a “strong-buy” rating in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CleanSpark currently has an average rating of “Buy” and an average target price of $19.97.

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.