Bank of New York Mellon Corp Has $6.36 Million Stock Holdings in CleanSpark, Inc. (NASDAQ:CLSK)

Bank of New York Mellon Corp decreased its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 689,960 shares of the company’s stock after selling 17,393 shares during the period. Bank of New York Mellon Corp’s holdings in CleanSpark were worth $6,355,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in CleanSpark by 9.8% in the third quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock worth $57,577,000 after acquiring an additional 549,187 shares in the last quarter. State Street Corp increased its position in CleanSpark by 4.5% in the third quarter. State Street Corp now owns 6,073,912 shares of the company’s stock worth $56,730,000 after buying an additional 261,195 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of CleanSpark in the fourth quarter valued at $39,940,000. Van ECK Associates Corp raised its stake in shares of CleanSpark by 40.0% in the fourth quarter. Van ECK Associates Corp now owns 2,227,199 shares of the company’s stock valued at $20,513,000 after buying an additional 636,511 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of CleanSpark by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock valued at $20,500,000 after purchasing an additional 208,862 shares during the period. Institutional investors own 43.12% of the company’s stock.

Insider Buying and Selling

In other CleanSpark news, CEO Zachary Bradford sold 10,533 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $112,071.12. Following the sale, the chief executive officer now directly owns 3,059,326 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman S. Matthew Schultz sold 9,010 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $95,866.40. Following the sale, the chairman now directly owns 2,450,010 shares in the company, valued at approximately $26,068,106.40. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,186 shares of company stock valued at $246,375. 2.65% of the stock is owned by company insiders.

CleanSpark Trading Up 3.6 %

Shares of CLSK opened at $7.97 on Monday. The business’s fifty day simple moving average is $9.88 and its two-hundred day simple moving average is $10.84. CleanSpark, Inc. has a 12 month low of $7.22 and a 12 month high of $24.72. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 72.46 and a beta of 4.20.

CleanSpark (NASDAQ:CLSK) last issued its earnings results on Thursday, February 6th. The company reported ($0.07) EPS for the quarter, beating 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%. As a group, research analysts forecast that CleanSpark, Inc. will post 0.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CLSK shares. Macquarie boosted their price objective on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. cut their price objective on CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday. Needham & Company LLC started coverage on CleanSpark in a report on Wednesday, February 12th. They set a “buy” rating and a $20.00 target price 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. Finally, Keefe, Bruyette & Woods began coverage on CleanSpark in a research report on Monday, January 27th. They issued an “outperform” rating and a $19.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $21.63.

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.