Zurcher Kantonalbank Zurich Cantonalbank Acquires 15,162 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 73.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 35,884 shares of the company’s stock after buying an additional 15,162 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CleanSpark were worth $396,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of CleanSpark by 21.7% during the third quarter. Vanguard Group Inc. now owns 7,533,197 shares of the company’s stock valued at $28,701,000 after buying an additional 1,345,135 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in CleanSpark by 119.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,757,431 shares of the company’s stock worth $19,384,000 after purchasing an additional 957,372 shares during the period. Charles Schwab Investment Management Inc. lifted its position in CleanSpark by 273.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,237,533 shares of the company’s stock valued at $4,715,000 after purchasing an additional 905,993 shares during the last quarter. Shariaportfolio Inc. purchased a new stake in shares of CleanSpark during the third quarter valued at approximately $3,161,000. Finally, Van ECK Associates Corp grew its holdings in shares of CleanSpark by 39.2% in the third quarter. Van ECK Associates Corp now owns 1,200,176 shares of the company’s stock worth $4,573,000 after purchasing an additional 338,190 shares during the last quarter. Institutional investors own 43.12% of the company’s stock.

CleanSpark Stock Up 1.3 %

Shares of CLSK opened at $16.15 on Friday. CleanSpark, Inc. has a 1-year low of $3.38 and a 1-year high of $24.72. The firm’s 50-day moving average price is $17.77 and its 200-day moving average price is $11.75.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.26. CleanSpark had a negative return on equity of 16.25% and a negative net margin of 38.09%. The business had revenue of $73.79 million for the quarter, compared to analysts’ expectations of $66.06 million. Sell-side analysts anticipate that CleanSpark, Inc. will post -0.3 earnings per share for the current year.

Insider Activity at CleanSpark

In other CleanSpark news, CEO Zachary Bradford sold 443,000 shares of the stock in a transaction 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 in the company, valued at $56,783,977.53. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other CleanSpark news, CEO Zachary Bradford sold 443,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $20.31, for a total value of $8,997,330.00. Following the sale, the chief executive officer now owns 2,795,863 shares in the company, valued at $56,783,977.53. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roger Paul Beynon sold 10,976 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total transaction of $195,921.60. Following the transaction, the director now directly owns 141,381 shares of the company’s stock, valued at approximately $2,523,650.85. The disclosure for this sale can be found here. Insiders have sold 1,169,620 shares of company stock worth $24,963,509 over the last ninety days. 3.46% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Chardan Capital upped their price target on shares of CleanSpark from $13.00 to $26.00 and gave the company a “buy” rating in a report on Monday, March 4th. TheStreet upgraded shares of CleanSpark from a “d” rating to a “c-” rating in a report on Friday, February 9th. BTIG Research raised their target price on CleanSpark from $12.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Cantor Fitzgerald upped their price target on CleanSpark from $10.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. lifted their price objective on CleanSpark from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.22.

CleanSpark 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.