D. E. Shaw & Co. Inc. Purchases 55,424 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

D. E. Shaw & Co. Inc. lifted its stake in CleanSpark, Inc. (NASDAQ:CLSK) by 147.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,023 shares of the company’s stock after purchasing an additional 55,424 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in CleanSpark were worth $857,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of CLSK. Compagnie Lombard Odier SCmA purchased a new position in CleanSpark in the 4th quarter worth about $31,000. Russell Investments Group Ltd. raised its holdings in CleanSpark by 60.0% during the fourth quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company’s stock valued at $54,000 after acquiring an additional 2,196 shares during the period. KBC Group NV boosted its stake in CleanSpark by 36.5% in the 4th quarter. KBC Group NV now owns 10,103 shares of the company’s stock worth $93,000 after purchasing an additional 2,700 shares during the period. R Squared Ltd purchased a new position in CleanSpark during the fourth quarter valued at $101,000. Finally, Farringdon Capital Ltd. purchased a new stake in shares of CleanSpark in the fourth quarter worth about $105,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

CleanSpark Price Performance

Shares of NASDAQ CLSK opened at $9.36 on Friday. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 85.10 and a beta of 4.36. The firm’s 50 day simple moving average is $8.28 and its 200-day simple moving average is $10.18. CleanSpark, Inc. has a 12 month low of $6.45 and a 12 month high of $20.64.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). The firm had revenue of $181.71 million for the quarter, compared to analyst estimates of $196.43 million. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. The firm’s quarterly revenue was up 62.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 EPS. Analysts anticipate that CleanSpark, Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CLSK. Chardan Capital assumed coverage on shares of CleanSpark in a research report on Wednesday. They set a “buy” rating and a $20.00 target price on the stock. Keefe, Bruyette & Woods began coverage on shares of CleanSpark in a research report on Monday, January 27th. They issued an “outperform” rating and a $19.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a report on Friday, February 7th. Needham & Company LLC began coverage on CleanSpark in a research note on Wednesday, February 12th. They issued a “buy” rating and a $20.00 price target for the company. Finally, JPMorgan Chase & Co. cut their target price on CleanSpark from $17.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $20.71.

Insider Transactions at CleanSpark

In other news, Director Amanda Cavaleri sold 13,000 shares of CleanSpark stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $7.97, for a total value of $103,610.00. Following the sale, the director now directly owns 140,289 shares of the company’s stock, valued at $1,118,103.33. The trade was a 8.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Roger Paul Beynon sold 50,000 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $10.51, for a total transaction of $525,500.00. Following the completion of the sale, the director now owns 125,511 shares of the company’s stock, valued at $1,319,120.61. This trade represents a 28.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.65% of the company’s stock.

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.