Xponance Inc. Increases Stake in CleanSpark, Inc. (NASDAQ:CLSK)

Xponance Inc. increased its stake in CleanSpark, Inc. (NASDAQ:CLSK) by 19.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,901 shares of the company’s stock after purchasing an additional 2,886 shares during the period. Xponance Inc.’s holdings in CleanSpark were worth $165,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of CLSK. Boston Partners acquired a new stake in shares of CleanSpark during the fourth quarter worth $427,000. Intech Investment Management LLC raised its stake in CleanSpark by 92.0% in the 4th quarter. Intech Investment Management LLC now owns 138,586 shares of the company’s stock worth $1,276,000 after acquiring an additional 66,419 shares during the last quarter. Cibc World Markets Corp acquired a new stake in CleanSpark during the 4th quarter worth about $214,000. United Capital Management of KS Inc. grew its stake in CleanSpark by 14.4% during the 4th quarter. United Capital Management of KS Inc. now owns 33,412 shares of the company’s stock valued at $308,000 after purchasing an additional 4,218 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of CleanSpark by 9.7% in the fourth quarter. Swiss National Bank now owns 497,900 shares of the company’s stock valued at $4,586,000 after purchasing an additional 44,000 shares during the period. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CLSK. Chardan Capital raised CleanSpark to a “strong-buy” rating in a report on Monday, March 24th. Macquarie lifted their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a report on Friday, February 7th. Keefe, Bruyette & Woods began coverage on shares of CleanSpark in a report on Monday, January 27th. They set an “outperform” rating and a $19.00 target price for the company. Finally, Needham & Company LLC initiated coverage on shares of CleanSpark in a research report on Wednesday, February 12th. They set a “buy” rating and a $20.00 target price for the company. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, CleanSpark has an average rating of “Buy” and a consensus price target of $21.57.

Insider Buying and Selling at CleanSpark

In other CleanSpark news, Chairman S. Matthew Schultz sold 9,010 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $10.64, for a total transaction of $95,866.40. Following the transaction, the chairman now directly owns 2,450,010 shares of the company’s stock, valued at $26,068,106.40. This trade represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amanda Cavaleri sold 13,000 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $7.97, for a total transaction of $103,610.00. Following the sale, the director now directly owns 140,289 shares of the company’s stock, valued at $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 have sold 34,836 shares of company stock valued at $335,945. Company insiders own 2.65% of the company’s stock.

CleanSpark Price Performance

CLSK opened at $7.19 on Friday. The firm has a fifty day moving average price of $9.33 and a 200 day moving average price of $10.72. CleanSpark, Inc. has a 1 year low of $7.02 and a 1 year high of $21.39. The stock has a market cap of $2.02 billion, a P/E ratio of 65.37 and a beta of 4.20.

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

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.