CleanSpark, Inc. (NASDAQ:CLSK) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 48.6% during the 4th quarter, Holdings Channel reports. The firm owned 34,971 shares of the company’s stock after selling 33,010 shares during the period. Victory Capital Management Inc.’s holdings in CleanSpark were worth $322,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Compagnie Lombard Odier SCmA acquired a new position in shares of CleanSpark in the 4th quarter worth $31,000. GAMMA Investing LLC grew its holdings in shares of CleanSpark by 962.1% in the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock worth $36,000 after acquiring an additional 3,579 shares during the last quarter. KBC Group NV grew its holdings in shares of CleanSpark by 42.0% in the 3rd quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $69,000 after acquiring an additional 2,190 shares during the last quarter. R Squared Ltd acquired a new position in shares of CleanSpark in the 4th quarter worth $101,000. Finally, Archer Investment Management LLC acquired a new position in shares of CleanSpark in the 4th quarter worth $122,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CleanSpark

In related news, Chairman S. Matthew Schultz sold 9,010 shares of CleanSpark stock in a transaction on Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $95,866.40. Following the completion of the sale, the chairman now owns 2,450,010 shares of the company’s stock, valued at approximately $26,068,106.40. This trade represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Zachary Bradford sold 10,533 shares of CleanSpark stock in a transaction 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 sale, the chief executive officer now directly owns 3,059,326 shares of the company’s stock, valued at approximately $32,551,228.64. The trade was a 0.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,186 shares of company stock valued at $246,375. Insiders own 2.65% of the company’s stock.

CleanSpark Stock Down 4.0 %

Shares of CleanSpark stock opened at $7.44 on Friday. The stock has a market cap of $2.09 billion, a PE ratio of 67.64 and a beta of 4.20. The business has a fifty day simple moving average of $9.61 and a 200-day simple moving average of $10.74. CleanSpark, Inc. has a 12 month low of $7.22 and a 12 month high of $24.72.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings data 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 negative return on equity of 2.61% and a net margin of 16.07%. Analysts expect that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.