ProShare Advisors LLC Decreases Position in CleanSpark, Inc. (NASDAQ:CLSK)

ProShare Advisors LLC lessened its stake in CleanSpark, Inc. (NASDAQ:CLSK) by 22.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,721 shares of the company’s stock after selling 7,933 shares during the quarter. ProShare Advisors LLC’s holdings in CleanSpark were worth $426,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CLSK. Swiss National Bank raised its stake in shares of CleanSpark by 21.3% in the first quarter. Swiss National Bank now owns 364,800 shares of the company’s stock valued at $7,737,000 after buying an additional 64,000 shares during the period. Vanguard Group Inc. raised its stake in CleanSpark by 6.8% in the 4th quarter. Vanguard Group Inc. now owns 8,048,511 shares of the company’s stock valued at $88,775,000 after acquiring an additional 515,314 shares during the period. Comerica Bank purchased a new stake in CleanSpark during the first quarter valued at about $1,894,000. SRN Advisors LLC bought a new position in CleanSpark during the first quarter worth about $1,405,000. Finally, Bayesian Capital Management LP purchased a new position in shares of CleanSpark in the first quarter worth about $723,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on CLSK shares. Cantor Fitzgerald restated an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a research note on Tuesday, September 3rd. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a research report on Wednesday, September 25th. Macquarie began coverage on CleanSpark in a report on Wednesday, September 25th. They set an “outperform” rating and a $20.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their target price on CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a report on Friday, August 23rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.11.

CleanSpark Price Performance

NASDAQ:CLSK opened at $8.61 on Wednesday. CleanSpark, Inc. has a 52-week low of $3.38 and a 52-week high of $24.72. The stock has a fifty day moving average of $11.40 and a 200 day moving average of $15.21.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings results on Friday, August 9th. The company reported $0.01 earnings per share (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 net margin of 46.31% and a negative return on equity of 3.64%. Equities analysts predict that CleanSpark, Inc. will post -0.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Thomas Leigh Wood sold 22,222 shares of CleanSpark 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 sale, the director now directly owns 137,050 shares of the company’s stock, valued at approximately $1,266,342. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 26,272 shares of company stock valued at $256,874 in the last quarter. Corporate insiders own 3.46% of the company’s stock.

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.