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Arizona State Retirement System Increases Position in CleanSpark, Inc. (NASDAQ:CLSK)


Arizona State Retirement System has sold its interest in shares of CleanSpark, Inc. (NASDAQ:CLSK – Free Report) increased 40.0% in the fourth quarter, the company said in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,671 shares of the company, after acquiring an additional 12,190 shares during the period. Arizona State Retirement System’s holdings in CleanSpark were worth $471,000 at the end of the most recent reporting period.

Other major investors also recently bought and sold shares of the company. Ameritas Investment Partners Inc. increased its stake in CleanSpark by 60.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,717 shares of the company’s stock, valued at $25,000, after acquiring an additional 2,150 shares in the last quarter. Barclays PLC grew its holdings in shares of CleanSpark by 533.2% in the fourth quarter. Barclays PLC now owns 12,253 shares of the company’s stock valued at $25,000 after purchasing an additional 10,318 shares during the period. The state of Wyoming purchased a new stake in CleanSpark stock worth approximately $27,000 in the second quarter. Lazard Asset Management LLC grew its holdings in shares of CleanSpark by 3,177.3% in the 3rd quarter. Lazard Asset Management LLC now owns 7,931 shares of the company’s stock valued at $29,000 after purchasing an additional 7,689 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in CleanSpark shares in the third quarter worth approximately $30,000. Hedge funds and other institutional investors own 43.12% of the company’s shares.

Insiders place their bets

In other CleanSpark news, Chairman S. Matthew Schultz sold 367,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $23.07, for a total transaction of $8,466,690.00. Following the sale, the chairman now directly owns 2,298,975 shares in the company, valued at approximately $53,037,353.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other CleanSpark news, Chairman S. Matthew Schultz sold 367,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $23.07, for a total transaction of $8,466,690.00. Following the sale, the chairman now directly owns 2,298,975 shares in the company, valued at approximately $53,037,353.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Zachary Bradford sold 443,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock sold at an average price of $20.31, for a total transaction of $8,997,330.00. Following the sale, the CEO now owns 2,795,863 shares in the company, valued at $56,783,977.53. The explanation of this sale can be found here. Insiders have sold a total of 1,169,620 company shares worth $24,963,509 over the last ninety days. 3.46% of the shares are owned by business insiders.

Wall Street analysts weigh in

Several analysts have recently expressed their opinions on the stock. Cantor Fitzgerald raised their target price on shares of CleanSpark from $10.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, March 28. HC Wainwright reissued a “buy” rating and a $27.00 price target on shares of CleanSpark in a research note on Monday, April 15. TheStreet upgraded shares of CleanSpark from a “d” rating to a “c-” rating in a research note on Friday, February 9th. BTIG Research raised their target price on shares of CleanSpark from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, March 19. Finally, JPMorgan Chase & Co. their target price on shares of CleanSpark increased from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of ‘Moderate Buy’ and a consensus target price of $19.22.

Check out our latest analysis on CLSK

CleanSpark inventory performance

Shares of CLSK opened at $17.20 on Friday. The company’s 50-day moving average price is $17.52 and its 200-day moving average price is $10.75. CleanSpark, Inc. has a one-year low of $3.33 and a one-year high of $24.72.

CleanSpark (NASDAQ:CLSK – Get Free Report) last posted its quarterly earnings data on Thursday, February 8. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate 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 net margin of 38.09% and a negative return on equity of 16.25%. On average, research analysts predict that CleanSpark, Inc. will post an earnings per share of -0.3 for the current year.

CleanSpark profile

(Free report)

CleanSpark, Inc operates as a bitcoin miner in America. It owns and operates data centers that run primarily on low-carbon energy. The infrastructure supports Bitcoin, a digital commodity and a tool for financial independence and inclusivity. The company was previously called Stratean Inc and changed its name to CleanSpark, Inc in November 2016.

Read further

Would you like to see which other hedge funds own CLSK? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for CleanSpark, Inc. (NASDAQ:CLSK – Free Report).

Quarterly Institutional Ownership for CleanSpark (NASDAQ:CLSK)



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