Thomas Leigh Wood Sells 22,222 Shares of CleanSpark, Inc. (NASDAQ:CLSK) Stock

CleanSpark, Inc. (NASDAQ:CLSK) Director Thomas Leigh Wood sold 22,222 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $9.24, for a total value of $205,331.28. Following the completion of the sale, the director now owns 137,050 shares in the company, valued at $1,266,342. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

CleanSpark Stock Up 1.4 %

CleanSpark stock opened at $9.38 on Friday. CleanSpark, Inc. has a 1-year low of $3.38 and a 1-year high of $24.72. The firm’s 50 day simple moving average is $13.21 and its 200 day simple moving average is $15.93.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings results on Friday, August 9th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). The firm had revenue of $104.11 million during the quarter, compared to the consensus estimate of $114.04 million. CleanSpark had a negative return on equity of 3.64% and a negative net margin of 46.31%. As a group, analysts predict that CleanSpark, Inc. will post -0.06 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on CLSK. JPMorgan Chase & Co. lowered their price target on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $23.00 target price on shares of CleanSpark in a report on Tuesday, September 3rd. Finally, HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research report on Wednesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.97.

Institutional Trading of CleanSpark

Several institutional investors and hedge funds have recently modified their holdings of CLSK. Russell Investments Group Ltd. grew its holdings in shares of CleanSpark by 36.8% during the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after purchasing an additional 787 shares in the last quarter. SteelPeak Wealth LLC lifted its position in CleanSpark by 3.0% during the second quarter. SteelPeak Wealth LLC now owns 36,907 shares of the company’s stock valued at $589,000 after purchasing an additional 1,066 shares during the last quarter. Amalgamated Bank grew its stake in CleanSpark by 18.4% in the 2nd quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock worth $122,000 after buying an additional 1,194 shares in the last quarter. Tobam increased its holdings in shares of CleanSpark by 6.4% in the 1st quarter. Tobam now owns 23,142 shares of the company’s stock worth $491,000 after buying an additional 1,394 shares during the last quarter. Finally, Scotia Capital Inc. raised its position in shares of CleanSpark by 14.5% during the 4th quarter. Scotia Capital Inc. now owns 11,810 shares of the company’s stock valued at $130,000 after buying an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

CleanSpark Company 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.