Cibc World Markets Corp Buys New Shares in CleanSpark, Inc. (NASDAQ:CLSK)

Cibc World Markets Corp purchased a new position in shares of CleanSpark, Inc. (NASDAQ:CLSK) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 23,289 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds also recently made changes to their positions in the stock. Kovitz Investment Group Partners LLC boosted its holdings in CleanSpark by 85.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 184,950 shares of the company’s stock valued at $1,727,000 after acquiring an additional 85,388 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of CleanSpark by 10.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock worth $20,500,000 after purchasing an additional 208,862 shares during the period. Quantbot Technologies LP acquired a new position in shares of CleanSpark in the 3rd quarter valued at about $1,960,000. Intech Investment Management LLC purchased a new stake in shares of CleanSpark during the 3rd quarter worth about $674,000. Finally, Barclays PLC increased its position in CleanSpark by 364.0% during the 3rd quarter. Barclays PLC now owns 389,201 shares of the company’s stock worth $3,634,000 after purchasing an additional 305,316 shares in the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Chardan Capital upgraded shares of CleanSpark to a “strong-buy” rating in a research note on Monday. Macquarie increased their price target on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Keefe, Bruyette & Woods assumed coverage on CleanSpark in a research note on Monday, January 27th. They set an “outperform” rating and a $19.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a report on Friday, February 7th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CleanSpark currently has a consensus rating of “Buy” and a consensus price target of $21.57.

CleanSpark Stock Down 7.0 %

CLSK stock opened at $8.12 on Thursday. The company has a market capitalization of $2.28 billion, a PE ratio of 73.82 and a beta of 4.20. The stock’s 50 day moving average is $9.49 and its two-hundred day moving average is $10.75. CleanSpark, Inc. has a 52-week low of $7.22 and a 52-week high of $24.72.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. As a group, sell-side analysts anticipate that CleanSpark, Inc. will post 0.58 EPS for the current year.

Insider Buying and Selling

In related news, Chairman S. Matthew Schultz sold 9,010 shares of the 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 owns 2,450,010 shares of the company’s stock, valued at $26,068,106.40. This trade represents a 0.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amanda Cavaleri sold 13,000 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $7.97, for a total transaction of $103,610.00. Following the transaction, the director now directly owns 140,289 shares of the company’s stock, valued at $1,118,103.33. The trade was a 8.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,186 shares of company stock valued at $349,985. Insiders own 2.65% of the company’s stock.

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.