CleanSpark, Inc. (NASDAQ:CLSK) CTO Sells $22,909.50 in Stock

CleanSpark, Inc. (NASDAQ:CLSK) CTO Taylor Monnig sold 1,350 shares of CleanSpark stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $16.97, for a total value of $22,909.50. Following the completion of the transaction, the chief technology officer now owns 212,352 shares of the company’s stock, valued at approximately $3,603,613.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Taylor Monnig also recently made the following trade(s):

• On Friday, June 28th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The shares were sold at an average price of $16.03, for a total value of $21,640.50.
• On Friday, May 31st, Taylor Monnig sold 1,350 shares of CleanSpark stock. The stock was sold at an average price of $16.65, for a total value of $22,477.50.

CleanSpark Trading Up 5.8 %

Shares of NASDAQ:CLSK traded up $0.94 during trading on Friday, reaching $17.12. The company had a trading volume of 26,149,223 shares, compared to its average volume of 32,949,754. The stock’s fifty day moving average price is $17.05 and its 200 day moving average price is $15.80. CleanSpark, Inc. has a fifty-two week low of $3.38 and a fifty-two week high of $24.72.

CleanSpark (NASDAQ:CLSK) last released its earnings results on Thursday, May 9th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. The business had revenue of $111.80 million for the quarter, compared to analyst estimates of $111.11 million. CleanSpark had a negative return on equity of 6.30% and a net margin of 22.41%. Equities analysts anticipate that CleanSpark, Inc. will post -0.09 EPS for the current year.

Wall Street Analysts Forecast Growth

CLSK has been the subject of several recent analyst reports. Chardan Capital restated a “buy” rating and set a $26.00 target price on shares of CleanSpark in a research note on Monday, May 13th. HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research note on Friday, June 28th. JPMorgan Chase & Co. reduced their price objective on CleanSpark from $15.00 to $12.50 and set a “neutral” rating for the company in a research note on Tuesday, June 4th. Finally, Cantor Fitzgerald boosted their price objective on CleanSpark from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, July 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.13.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in CleanSpark by 58.5% during the first quarter. Vanguard Group Inc. now owns 12,755,249 shares of the company’s stock worth $270,539,000 after acquiring an additional 4,706,738 shares during the period. Dimensional Fund Advisors LP grew its holdings in CleanSpark by 62.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,433,586 shares of the company’s stock worth $93,032,000 after acquiring an additional 3,235,171 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in CleanSpark by 119.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,757,431 shares of the company’s stock worth $19,384,000 after acquiring an additional 957,372 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in CleanSpark by 11.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,379,611 shares of the company’s stock worth $15,217,000 after acquiring an additional 142,078 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in CleanSpark by 32.8% during 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 period. Institutional investors and hedge funds own 43.12% of the company’s stock.

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.