CleanSpark, Inc. (NASDAQ:CLSK) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC reduced its position in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 48.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,997 shares of the company’s stock after selling 42,702 shares during the period. AQR Capital Management LLC’s holdings in CleanSpark were worth $734,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CLSK. Vanguard Group Inc. increased its position in shares of CleanSpark by 58.5% during the first quarter. Vanguard Group Inc. now owns 12,755,249 shares of the company’s stock valued at $270,539,000 after acquiring an additional 4,706,738 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of CleanSpark in the second quarter valued at approximately $18,074,000. Van ECK Associates Corp grew its holdings in shares of CleanSpark by 21.5% in the second quarter. Van ECK Associates Corp now owns 969,896 shares of the company’s stock valued at $15,470,000 after purchasing an additional 171,627 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in CleanSpark by 32.8% in the second quarter. Bank of New York Mellon Corp now owns 871,793 shares of the company’s stock worth $13,905,000 after acquiring an additional 215,124 shares during the last quarter. Finally, Shariaportfolio Inc. lifted its stake in CleanSpark by 4.6% in the second quarter. Shariaportfolio Inc. now owns 653,304 shares of the company’s stock worth $10,421,000 after acquiring an additional 28,767 shares during the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Thomas Leigh Wood sold 22,222 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total value of $205,331.28. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 26,272 shares of company stock valued at $256,874. Insiders own 3.46% of the company’s stock.

CleanSpark Stock Performance

NASDAQ:CLSK opened at $9.59 on Monday. CleanSpark, Inc. has a twelve month low of $3.46 and a twelve month high of $24.72. The firm has a 50-day moving average price of $10.14 and a two-hundred day moving average price of $14.56.

CleanSpark (NASDAQ:CLSK) last released its quarterly 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 return on equity of 3.64% and a negative net margin of 46.31%. The firm had revenue of $104.11 million for the quarter, compared to analyst estimates of $114.04 million. On average, equities analysts anticipate that CleanSpark, Inc. will post -0.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

CleanSpark 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.