S. Matthew Schultz Sells 367,000 Shares of CleanSpark, Inc. (NASDAQ:CLSK) Stock

CleanSpark, Inc. (NASDAQ:CLSK) Chairman S. Matthew Schultz sold 367,000 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $23.07, for a total transaction of $8,466,690.00. Following the completion of the sale, the chairman now directly owns 2,298,975 shares of the company’s stock, valued at approximately $53,037,353.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

S. Matthew Schultz also recently made the following trade(s):

• On Tuesday, February 27th, S. Matthew Schultz sold 322,400 shares of CleanSpark stock. The stock was sold at an average price of $20.95, for a total transaction of $6,754,280.00.

CleanSpark Stock Down 0.3 %

Shares of NASDAQ CLSK opened at $23.11 on Thursday. CleanSpark, Inc. has a 1 year low of $2.38 and a 1 year high of $24.72. The stock has a fifty day moving average price of $14.77 and a two-hundred day moving average price of $9.34.

CleanSpark (NASDAQ:CLSK) last released its earnings results on Thursday, February 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.26. The firm had revenue of $73.79 million for the quarter, compared to analyst estimates of $66.06 million. CleanSpark had a negative return on equity of 16.25% and a negative net margin of 38.09%. On average, research analysts expect that CleanSpark, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CLSK has been the subject of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research report on Wednesday. Chardan Capital boosted their price target on CleanSpark from $13.00 to $26.00 and gave the company a “buy” rating in a report on Monday, March 4th. TheStreet raised CleanSpark from a “d” rating to a “c-” rating in a report on Friday, February 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $8.00 price objective (down previously from $9.00) on shares of CleanSpark in a report on Friday, December 8th. Finally, BTIG Research boosted their price objective on CleanSpark from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.38.

Institutional Investors Weigh In On CleanSpark

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of CleanSpark by 6.8% in the 4th quarter. Vanguard Group Inc. now owns 8,048,511 shares of the company’s stock worth $88,775,000 after acquiring an additional 515,314 shares during the last quarter. American International Group Inc. raised its holdings in CleanSpark by 34.9% during the 4th quarter. American International Group Inc. now owns 74,458 shares of the company’s stock worth $821,000 after buying an additional 19,268 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in CleanSpark by 70.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 90,723 shares of the company’s stock valued at $1,001,000 after buying an additional 37,571 shares in the last quarter. Legal & General Group Plc increased its position in shares of CleanSpark by 20.6% in the fourth quarter. Legal & General Group Plc now owns 148,856 shares of the company’s stock worth $1,641,000 after acquiring an additional 25,385 shares in the last quarter. Finally, Barclays PLC increased its position in shares of CleanSpark by 243.8% in the fourth quarter. Barclays PLC now owns 245,942 shares of the company’s stock worth $2,714,000 after acquiring an additional 174,406 shares in the last quarter. Institutional investors and hedge funds 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.