CleanSpark, Inc. (NASDAQ:CLSK) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 30.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 185,554 shares of the company’s stock after selling 79,530 shares during the quarter. SG Americas Securities LLC owned approximately 0.08% of CleanSpark worth $1,733,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Russell Investments Group Ltd. grew its stake in CleanSpark by 36.8% in the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock valued at $62,000 after acquiring an additional 787 shares during the period. SteelPeak Wealth LLC raised its position in shares of CleanSpark by 3.0% during the 2nd quarter. SteelPeak Wealth LLC now owns 36,907 shares of the company’s stock worth $589,000 after purchasing an additional 1,066 shares during the last quarter. Amalgamated Bank lifted its stake in CleanSpark by 18.4% in the 2nd quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock valued at $122,000 after buying an additional 1,194 shares in the last quarter. Tobam boosted its holdings in CleanSpark by 6.4% in the 1st quarter. Tobam now owns 23,142 shares of the company’s stock worth $491,000 after buying an additional 1,394 shares during the last quarter. Finally, American Capital Advisory LLC purchased a new stake in CleanSpark during the 1st quarter worth approximately $32,000. 43.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Thomas Leigh Wood sold 22,222 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $9.24, for a total transaction of $205,331.28. Following the completion of the sale, the director now directly owns 137,050 shares of the company’s stock, valued at approximately $1,266,342. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 26,272 shares of company stock valued at $256,874 in the last quarter. Insiders own 3.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CLSK. JPMorgan Chase & Co. decreased their target price on CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research note on Wednesday, September 25th. Macquarie began coverage on shares of CleanSpark in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $20.00 target price for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a report on Thursday, October 3rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, CleanSpark has a consensus rating of “Moderate Buy” and an average price target of $19.11.

CleanSpark Stock Down 1.1 %

Shares of CLSK stock opened at $9.00 on Wednesday. The firm’s 50-day moving average is $10.48 and its two-hundred day moving average is $14.80. CleanSpark, Inc. has a 12 month low of $3.46 and a 12 month high of $24.72.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings data on Friday, August 9th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The business had revenue of $104.11 million during the quarter, compared to analyst estimates of $114.04 million. CleanSpark had a negative net margin of 46.31% and a negative return on equity of 3.64%. As a group, equities analysts predict that CleanSpark, Inc. will post -0.06 EPS for the current fiscal year.

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.