Cleanspark (NASDAQ:CLSK) Director Amanda Cavaleri Sells 33,000 Shares

Cleanspark, Inc. (NASDAQ:CLSK) Director Amanda Cavaleri sold 33,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $15.02, for a total transaction of $495,660.00. Following the completion of the transaction, the director directly owned 107,289 shares of the company’s stock, valued at $1,611,480.78. This represents a 23.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cleanspark Stock Down 8.7%

Shares of NASDAQ CLSK opened at $13.72 on Friday. The stock has a market cap of $3.51 billion, a P/E ratio of 12.36 and a beta of 3.79. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.30. Cleanspark, Inc. has a 12-month low of $6.45 and a 12-month high of $23.61. The business’s fifty day simple moving average is $15.89 and its 200-day simple moving average is $12.48.

Institutional Trading of Cleanspark

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Cleanspark by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,051,850 shares of the company’s stock worth $377,752,000 after buying an additional 769,148 shares during the last quarter. Geode Capital Management LLC grew its stake in Cleanspark by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 7,536,772 shares of the company’s stock valued at $83,139,000 after acquiring an additional 101,401 shares during the last quarter. Invesco Ltd. increased its holdings in Cleanspark by 22.1% during the 3rd quarter. Invesco Ltd. now owns 4,482,527 shares of the company’s stock valued at $64,997,000 after acquiring an additional 810,203 shares in the last quarter. Tidal Investments LLC raised its position in Cleanspark by 13.3% during the third quarter. Tidal Investments LLC now owns 4,366,437 shares of the company’s stock worth $63,313,000 after acquiring an additional 514,062 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Cleanspark by 57.0% in the third quarter. Dimensional Fund Advisors LP now owns 4,311,221 shares of the company’s stock valued at $62,521,000 after purchasing an additional 1,564,761 shares in the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wall Street Zen lowered Cleanspark from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cleanspark in a report on Tuesday. Chardan Capital reiterated a “buy” rating and issued a $30.00 price target on shares of Cleanspark in a research note on Wednesday, November 26th. JPMorgan Chase & Co. raised shares of Cleanspark from a “neutral” rating to an “overweight” rating and set a $14.00 price objective on the stock in a research report on Monday, November 24th. Finally, Macquarie reduced their price objective on shares of Cleanspark from $30.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, November 26th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Cleanspark has an average rating of “Moderate Buy” and a consensus target price of $23.20.

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.