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 firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total transaction of $205,331.28. Following the completion of the transaction, the director now directly owns 137,050 shares in the company, valued at $1,266,342. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

CleanSpark Price Performance

CleanSpark stock opened at $9.38 on Friday. CleanSpark, Inc. has a 52 week low of $3.38 and a 52 week high of $24.72. The company’s 50 day moving average price is $13.21 and its two-hundred day moving average price is $15.93.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings results on Friday, August 9th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The business had revenue of $104.11 million for 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%. On average, analysts forecast that CleanSpark, Inc. will post -0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On CleanSpark

Hedge funds have recently made changes to their positions in the business. American Capital Advisory LLC purchased a new stake in CleanSpark during the first quarter worth about $32,000. National Bank of Canada FI grew its position in shares of CleanSpark by 470.9% during the 2nd quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock valued at $41,000 after acquiring an additional 2,119 shares during the period. Russell Investments Group Ltd. increased its stake in shares of CleanSpark by 36.8% during the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after purchasing an additional 787 shares during the last quarter. Hollencrest Capital Management bought a new stake in shares of CleanSpark in the 2nd quarter worth approximately $48,000. Finally, Banque Cantonale Vaudoise purchased a new position in CleanSpark in the first quarter valued at approximately $109,000. 43.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.