HighTower Advisors LLC Has $102,000 Position in CleanSpark, Inc. (NASDAQ:CLSK)

HighTower Advisors LLC decreased its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 24.1% in the 4th quarter, HoldingsChannel reports. The firm owned 11,124 shares of the company’s stock after selling 3,527 shares during the period. HighTower Advisors LLC’s holdings in CleanSpark were worth $102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Compagnie Lombard Odier SCmA bought a new position in shares of CleanSpark in the fourth quarter valued at about $31,000. GAMMA Investing LLC raised its holdings in CleanSpark by 962.1% in the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock valued at $36,000 after acquiring an additional 3,579 shares during the period. KBC Group NV lifted its position in CleanSpark by 36.5% during the fourth quarter. KBC Group NV now owns 10,103 shares of the company’s stock worth $93,000 after acquiring an additional 2,700 shares during the last quarter. R Squared Ltd bought a new stake in shares of CleanSpark during the fourth quarter worth approximately $101,000. Finally, Haven Private LLC acquired a new position in shares of CleanSpark in the fourth quarter valued at approximately $108,000. 43.12% of the stock is owned by institutional investors.

Insider Buying and Selling at CleanSpark

In other news, CEO Zachary Bradford sold 10,533 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $10.64, for a total transaction of $112,071.12. Following the completion of the transaction, the chief executive officer now owns 3,059,326 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Also, Director Amanda Cavaleri sold 13,000 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $7.97, for a total transaction of $103,610.00. Following the completion of the sale, the director now directly owns 140,289 shares in the company, valued at approximately $1,118,103.33. This represents a 8.48 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,836 shares of company stock worth $335,945. 2.65% of the stock is currently owned by insiders.

CleanSpark Stock Performance

Shares of CLSK opened at $7.32 on Friday. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 66.55 and a beta of 4.12. CleanSpark, Inc. has a 52-week low of $6.50 and a 52-week high of $21.39. The business’s fifty day moving average is $8.93 and its 200-day moving average is $10.65.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of CleanSpark in a report on Friday, February 7th. Needham & Company LLC began coverage on CleanSpark in a report on Wednesday, February 12th. They set a “buy” rating and a $20.00 target price for the company. Chardan Capital upgraded shares of CleanSpark to a “strong-buy” rating in a research note on Monday, March 24th. Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a research note on Monday, January 27th. They issued an “outperform” rating and a $19.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, CleanSpark has a consensus rating of “Buy” and a consensus target price 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.