CleanSpark (NASDAQ:CLSK) Shares Gap Down to $19.24

CleanSpark, Inc. (NASDAQ:CLSKGet Free Report)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $19.24, but opened at $18.69. CleanSpark shares last traded at $18.62, with a volume of 1,626,847 shares.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CLSK shares. Cantor Fitzgerald upgraded CleanSpark to a “strong-buy” rating in a report on Wednesday, June 12th. JPMorgan Chase & Co. cut their price objective on CleanSpark from $15.00 to $12.50 and set a “neutral” rating for the company in a report on Tuesday, June 4th. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a report on Friday, May 10th. Chardan Capital reiterated a “buy” rating and issued a $26.00 price objective on shares of CleanSpark in a report on Monday, May 13th. Finally, BTIG Research upped their price objective on CleanSpark from $12.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $19.97.

View Our Latest Stock Report on CleanSpark

CleanSpark Trading Down 1.6 %

The firm has a fifty day moving average of $16.82 and a two-hundred day moving average of $14.55.

CleanSpark (NASDAQ:CLSKGet Free Report) last issued its earnings results on Thursday, May 9th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.07. The company had revenue of $111.80 million during the quarter, compared to analysts’ expectations of $111.11 million. CleanSpark had a negative return on equity of 6.30% and a net margin of 22.41%. As a group, equities analysts predict that CleanSpark, Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Buying and Selling at CleanSpark

In other CleanSpark news, Chairman S. Matthew Schultz sold 367,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now 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 is available at the SEC website. In other news, CEO Zachary Bradford sold 443,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $20.31, for a total value of $8,997,330.00. Following the completion of the transaction, the chief executive officer now owns 2,795,863 shares of the company’s stock, valued at approximately $56,783,977.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman S. Matthew Schultz sold 367,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $23.07, for a total value of $8,466,690.00. Following the completion of the transaction, the chairman now directly owns 2,298,975 shares of the company’s stock, valued at approximately $53,037,353.25. The disclosure for this sale can be found here. Insiders sold 811,350 shares of company stock valued at $17,486,498 in the last 90 days. Insiders own 3.46% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. American Capital Advisory LLC bought a new position in shares of CleanSpark in the 1st quarter worth approximately $32,000. Russell Investments Group Ltd. raised its position in shares of CleanSpark by 36.8% in the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after acquiring an additional 787 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of CleanSpark in the 1st quarter worth approximately $109,000. DekaBank Deutsche Girozentrale bought a new position in shares of CleanSpark in the 3rd quarter worth approximately $30,000. Finally, VitalStone Financial LLC grew its stake in shares of CleanSpark by 952.7% in the 3rd quarter. VitalStone Financial LLC now owns 8,895 shares of the company’s stock worth $33,000 after buying an additional 8,050 shares during the last quarter. Institutional investors own 43.12% of the company’s stock.

CleanSpark Company Profile

(Get Free Report)

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.

Further Reading

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