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

CleanSpark, Inc. (NASDAQ:CLSK) CTO Taylor Monnig sold 1,350 shares of CleanSpark stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $10.44, for a total value of $14,094.00. Following the sale, the chief technology officer now directly owns 209,652 shares of the company’s stock, valued at approximately $2,188,766.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, August 30th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The stock was sold at an average price of $10.77, for a total value of $14,539.50.
• On Friday, July 26th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The shares were sold at an average price of $16.97, for a total value of $22,909.50.

CleanSpark Stock Up 0.4 %

Shares of CLSK traded up $0.04 during trading hours on Friday, hitting $10.13. 24,672,340 shares of the stock were exchanged, compared to its average volume of 30,325,557. CleanSpark, Inc. has a 12-month low of $3.38 and a 12-month high of $24.72. The stock’s 50-day moving average price is $11.73 and its two-hundred day moving average price is $15.32.

CleanSpark (NASDAQ:CLSK) last issued its earnings results on Friday, August 9th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). CleanSpark had a negative net margin of 46.31% and a negative return on equity of 3.64%. The company had revenue of $104.11 million during the quarter, compared to analysts’ expectations of $114.04 million. Equities research analysts forecast that CleanSpark, Inc. will post -0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CleanSpark

Several large investors have recently modified their holdings of CLSK. American Capital Advisory LLC acquired a new position in shares of CleanSpark in the 1st quarter valued at $32,000. National Bank of Canada FI lifted its stake in CleanSpark by 470.9% during the 2nd quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock worth $41,000 after acquiring an additional 2,119 shares in the last quarter. Hollencrest Capital Management acquired a new position in CleanSpark during the 2nd quarter worth about $48,000. Russell Investments Group Ltd. lifted its stake in CleanSpark by 36.8% during the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after acquiring an additional 787 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in CleanSpark during the 1st quarter worth about $109,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

Analyst Upgrades and Downgrades

CLSK has been the subject of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price target on shares of CleanSpark in a report on Tuesday, September 3rd. Macquarie initiated coverage on CleanSpark in a report on Wednesday. They issued an “outperform” rating and a $20.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a report on Friday, August 23rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, CleanSpark currently has a consensus rating of “Moderate Buy” and an average price target of $19.11.

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.