Insider Selling: CleanSpark, Inc. (NASDAQ:CLSK) CTO Sells 1,350 Shares of Stock

CleanSpark, Inc. (NASDAQ:CLSK) CTO Taylor Monnig sold 1,350 shares of CleanSpark stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $10.40, for a total value of $14,040.00. Following the sale, the chief technology officer now directly owns 201,520 shares in the company, valued at $2,095,808. The trade was a 0.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, November 29th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The stock was sold at an average price of $14.35, for a total value of $19,372.50.
• On Friday, October 25th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The shares were sold at an average price of $11.88, for a total transaction of $16,038.00.

CleanSpark Trading Down 5.6 %

Shares of CleanSpark stock opened at $9.78 on Friday. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of -16.86 and a beta of 4.16. The firm’s 50-day moving average price is $12.90 and its two-hundred day moving average price is $13.00. CleanSpark, Inc. has a 1-year low of $6.41 and a 1-year high of $24.72.

Wall Street Analysts Forecast Growth

CLSK has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $10.50 to $17.00 in a report on Tuesday, December 10th. Macquarie lifted their price objective on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a research note on Thursday, October 3rd. Finally, HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research report on Tuesday, December 3rd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CleanSpark presently has a consensus rating of “Buy” and an average price target of $23.17.

Institutional Investors Weigh In On CleanSpark

Large investors have recently bought and sold shares of the business. Marshall Wace LLP bought a new position in CleanSpark in the 2nd quarter valued at $18,074,000. Van ECK Associates Corp increased its stake in shares of CleanSpark by 64.0% in the third quarter. Van ECK Associates Corp now owns 1,590,688 shares of the company’s stock valued at $14,857,000 after buying an additional 620,792 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of CleanSpark by 9.8% in the third quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock valued at $57,577,000 after buying an additional 549,187 shares during the last quarter. Millennium Management LLC grew its holdings in CleanSpark by 74.6% during the 2nd quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock worth $19,958,000 after acquiring an additional 534,825 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of CleanSpark by 364.0% in the third quarter. Barclays PLC now owns 389,201 shares of the company’s stock worth $3,634,000 after acquiring an additional 305,316 shares during the last quarter. 43.12% of the stock is currently owned by institutional investors.

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.