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

CleanSpark, Inc. (NASDAQ:CLSK) Chairman S. Matthew Schultz sold 367,000 shares of the stock in a transaction dated 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 transaction, the chairman now owns 2,298,975 shares in the company, valued at $53,037,353.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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 Trading Down 0.3 %

CLSK stock 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’s fifty day moving average is $14.77 and its two-hundred day moving average is $9.34.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.26. The company 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%. Equities analysts anticipate that CleanSpark, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CLSK shares. Chardan Capital increased their target price on shares of CleanSpark from $13.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. TheStreet raised shares of CleanSpark from a “d” rating to a “c-” rating in a research report on Friday, February 9th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of CleanSpark in a research note on Friday, December 1st. BTIG Research raised their price objective on CleanSpark from $12.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $8.00 price objective (down from $9.00) on shares of CleanSpark in a research note on Friday, December 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, CleanSpark presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CLSK. JPMorgan Chase & Co. grew its holdings in CleanSpark by 14.1% during the first quarter. JPMorgan Chase & Co. now owns 21,634 shares of the company’s stock worth $268,000 after acquiring an additional 2,678 shares during the period. Bank of New York Mellon Corp grew its holdings in CleanSpark by 8.9% during the first quarter. Bank of New York Mellon Corp now owns 183,219 shares of the company’s stock worth $2,266,000 after acquiring an additional 14,977 shares during the period. MetLife Investment Management LLC grew its holdings in CleanSpark by 58.5% during the first quarter. MetLife Investment Management LLC now owns 22,472 shares of the company’s stock worth $278,000 after acquiring an additional 8,294 shares during the period. Rhumbline Advisers increased its stake in CleanSpark by 15.2% in the 1st quarter. Rhumbline Advisers now owns 48,466 shares of the company’s stock worth $600,000 after purchasing an additional 6,407 shares in the last quarter. Finally, BlackRock Inc. increased its stake in CleanSpark by 10.8% in the 1st quarter. BlackRock Inc. now owns 2,524,449 shares of the company’s stock worth $31,228,000 after purchasing an additional 246,633 shares in the last quarter. 43.12% of the stock is owned by institutional investors and hedge funds.

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.