Wellington Management Group LLP Has $112,000 Holdings in CleanSpark, Inc. (NASDAQ:CLSK)

Wellington Management Group LLP trimmed its position in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 58.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,156 shares of the company’s stock after selling 17,020 shares during the period. Wellington Management Group LLP’s holdings in CleanSpark were worth $112,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CLSK. Vanguard Group Inc. grew its position in shares of CleanSpark by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 19,655,746 shares of the company’s stock valued at $181,029,000 after acquiring an additional 495,367 shares during the period. Geode Capital Management LLC grew its holdings in CleanSpark by 9.8% during the third quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock worth $57,577,000 after purchasing an additional 549,187 shares during the period. State Street Corp increased its position in CleanSpark by 4.5% during the third quarter. State Street Corp now owns 6,073,912 shares of the company’s stock worth $56,730,000 after buying an additional 261,195 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in CleanSpark in the fourth quarter valued at approximately $39,940,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of CleanSpark by 12.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,464,861 shares of the company’s stock valued at $22,701,000 after buying an additional 270,026 shares during the last quarter. 43.12% of the stock is owned by institutional investors.

Insider Buying and Selling at CleanSpark

In other CleanSpark news, Chairman S. Matthew Schultz sold 9,010 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $95,866.40. Following the transaction, the chairman now directly owns 2,450,010 shares of the company’s stock, valued at $26,068,106.40. This trade represents a 0.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Zachary Bradford sold 10,533 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $10.64, for a total transaction of $112,071.12. Following the completion of the transaction, the chief executive officer now owns 3,059,326 shares of the company’s stock, valued at $32,551,228.64. The trade was a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,836 shares of company stock valued at $335,945 in the last three months. Corporate insiders own 2.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CLSK. Chardan Capital raised CleanSpark to a “strong-buy” rating in a report on Monday, March 24th. Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a research report on Monday, January 27th. They issued an “outperform” rating and a $19.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a report on Friday, February 7th. Finally, Needham & Company LLC started coverage on CleanSpark in a report on Wednesday, February 12th. They set a “buy” rating and a $20.00 price objective for the company. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $21.57.

CleanSpark Stock Down 6.4 %

Shares of CleanSpark stock opened at $7.28 on Wednesday. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 66.19 and a beta of 4.12. CleanSpark, Inc. has a twelve month low of $6.45 and a twelve month high of $21.39. The company has a 50-day simple moving average of $8.36 and a two-hundred day simple moving average of $10.52.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. On average, sell-side analysts anticipate that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal year.

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.