Swiss National Bank Boosts Stake in CleanSpark, Inc. (NASDAQ:CLSK)

Swiss National Bank grew its stake in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 9.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 497,900 shares of the company’s stock after buying an additional 44,000 shares during the period. Swiss National Bank owned 0.18% of CleanSpark worth $4,586,000 at the end of the most recent reporting period.

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

CleanSpark Stock Performance

NASDAQ CLSK opened at $8.79 on Tuesday. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 79.92 and a beta of 4.20. CleanSpark, Inc. has a one year low of $7.22 and a one year high of $24.72. The company’s 50 day moving average price is $9.58 and its 200 day moving average price is $10.76.

CleanSpark (NASDAQ:CLSK) last posted its earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share 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%. Sell-side analysts forecast that CleanSpark, Inc. will post 0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

CLSK has been the topic of a number of recent analyst reports. Macquarie increased their price target on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a research note on Friday, February 7th. Needham & Company LLC assumed coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They set a “buy” rating and a $20.00 price objective for the company. Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a research report on Monday, January 27th. They issued an “outperform” rating and a $19.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, CleanSpark presently has an average rating of “Buy” and a consensus target price of $21.57.

Insiders Place Their Bets

In other news, Director Amanda Cavaleri sold 13,000 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $7.97, for a total transaction of $103,610.00. Following the transaction, the director now directly owns 140,289 shares of the company’s stock, valued at approximately $1,118,103.33. The trade was a 8.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Zachary Bradford sold 10,533 shares of the company’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 $32,551,228.64. This trade represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,186 shares of company stock worth $349,985 over the last quarter. 2.65% of the stock is owned by corporate insiders.

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.