CleanSpark, Inc. (NASDAQ:CLSK) CTO Sells $16,038.00 in Stock

CleanSpark, Inc. (NASDAQ:CLSK) CTO Taylor Monnig sold 1,350 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $11.88, for a total value of $16,038.00. Following the transaction, the chief technology officer now directly owns 204,220 shares in the company, valued at approximately $2,426,133.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, September 27th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The shares were sold at an average price of $10.44, for a total value of $14,094.00.
• On Friday, August 30th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The shares were sold at an average price of $10.77, for a total value of $14,539.50.

CleanSpark Stock Down 4.8 %

CLSK opened at $11.39 on Monday. The stock’s 50 day moving average price is $10.19 and its two-hundred day moving average price is $14.13. CleanSpark, Inc. has a 12-month low of $3.46 and a 12-month high of $24.72.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). CleanSpark had a negative return on equity of 3.64% and a negative net margin of 46.31%. The firm had revenue of $104.11 million for the quarter, compared to analyst estimates of $114.04 million. On average, sell-side analysts anticipate that CleanSpark, Inc. will post -0.06 EPS for the current year.

Institutional Trading of CleanSpark

Several institutional investors have recently modified their holdings of CLSK. Vanguard Group Inc. grew its holdings in shares of CleanSpark by 6.8% during the 4th quarter. Vanguard Group Inc. now owns 8,048,511 shares of the company’s stock worth $88,775,000 after purchasing an additional 515,314 shares in the last quarter. CAP Partners LLC acquired a new stake in shares of CleanSpark during the 1st quarter worth approximately $767,000. Sloy Dahl & Holst LLC acquired a new stake in shares of CleanSpark during the 1st quarter worth approximately $302,000. United Capital Management of KS Inc. acquired a new stake in shares of CleanSpark during the 1st quarter worth approximately $327,000. Finally, Principal Financial Group Inc. grew its holdings in shares of CleanSpark by 20.4% during the 1st quarter. Principal Financial Group Inc. now owns 22,511 shares of the company’s stock worth $477,000 after purchasing an additional 3,810 shares in the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $23.00 price objective on shares of CleanSpark in a report on Thursday, October 3rd. JPMorgan Chase & Co. lowered their price objective on CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a report on Friday, August 23rd. Macquarie initiated coverage on CleanSpark in a report on Wednesday, September 25th. They set an “outperform” rating and a $20.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research note on Wednesday, September 25th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.11.

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.