Sanctuary Advisors LLC Acquires 27,048 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Sanctuary Advisors LLC boosted its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 56.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,930 shares of the company’s stock after purchasing an additional 27,048 shares during the quarter. Sanctuary Advisors LLC’s holdings in CleanSpark were worth $690,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA bought a new stake in CleanSpark during the 4th quarter valued at approximately $31,000. GAMMA Investing LLC increased its stake in CleanSpark by 962.1% in the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock worth $36,000 after acquiring an additional 3,579 shares during the last quarter. Hollencrest Capital Management increased its stake in CleanSpark by 33.3% in the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $37,000 after acquiring an additional 1,000 shares during the last quarter. KBC Group NV increased its stake in CleanSpark by 42.0% in the 3rd quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $69,000 after acquiring an additional 2,190 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in CleanSpark by 21.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after acquiring an additional 1,345 shares during the last quarter. Institutional investors own 43.12% of the company’s stock.

Insider Activity at CleanSpark

In related news, Chairman S. Matthew Schultz sold 9,010 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $95,866.40. Following the completion of the transaction, the chairman now owns 2,450,010 shares in the company, valued at $26,068,106.40. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Zachary Bradford sold 10,533 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $112,071.12. Following the transaction, the chief executive officer now owns 3,059,326 shares of the company’s stock, valued at approximately $32,551,228.64. The trade was a 0.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,186 shares of company stock worth $246,375 in the last quarter. 2.65% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CLSK shares. Keefe, Bruyette & Woods started coverage on CleanSpark in a research note on Monday, January 27th. They issued an “outperform” rating and a $19.00 price objective on the stock. Macquarie lifted their price objective on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Needham & Company LLC started coverage on CleanSpark in a research note on Wednesday, February 12th. They issued a “buy” rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. raised CleanSpark from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $10.50 to $17.00 in a research note on Tuesday, December 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a report on Friday, February 7th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, CleanSpark currently has an average rating of “Buy” and a consensus price target of $22.25.

CleanSpark Stock Performance

Shares of CleanSpark stock opened at $7.99 on Friday. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 72.64 and a beta of 4.25. The stock has a 50 day moving average price of $10.32 and a 200-day moving average price of $11.12. CleanSpark, Inc. has a one year low of $7.36 and a one year high of $24.72.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.61% and a net margin of 16.07%. Sell-side analysts predict that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal year.

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.