Insider Selling: CleanSpark, Inc. (NASDAQ:CLSK) CTO Sells $21,640.50 in Stock

CleanSpark, Inc. (NASDAQ:CLSK) CTO Taylor Monnig sold 1,350 shares of CleanSpark stock in a transaction on Friday, June 28th. The shares were sold at an average price of $16.03, for a total transaction of $21,640.50. Following the completion of the transaction, the chief technology officer now owns 213,702 shares in the company, valued at $3,425,643.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Taylor Monnig also recently made the following trade(s):

• On Friday, May 31st, Taylor Monnig sold 1,350 shares of CleanSpark stock. The shares were sold at an average price of $16.65, for a total transaction of $22,477.50.

CleanSpark Price Performance

CleanSpark stock opened at $15.95 on Monday. CleanSpark, Inc. has a fifty-two week low of $3.38 and a fifty-two week high of $24.72. The stock has a fifty day moving average of $17.18 and a two-hundred day moving average of $15.07.

CleanSpark (NASDAQ:CLSK) last announced its earnings results on Thursday, May 9th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.07. CleanSpark had a net margin of 22.41% and a negative return on equity of 6.30%. The firm had revenue of $111.80 million during the quarter, compared to the consensus estimate of $111.11 million. Research analysts predict that CleanSpark, Inc. will post -0.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CLSK. Chardan Capital restated a “buy” rating and issued a $26.00 price target on shares of CleanSpark in a research note on Monday, May 13th. Cantor Fitzgerald raised CleanSpark to a “strong-buy” rating in a research note on Wednesday, June 12th. BTIG Research boosted their target price on CleanSpark from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. JPMorgan Chase & Co. dropped their price target on CleanSpark from $15.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, June 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a research report on Friday. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, CleanSpark has a consensus rating of “Buy” and a consensus target price of $19.97.

Institutional Trading of CleanSpark

A number of hedge funds have recently bought and sold shares of the company. SRN Advisors LLC purchased a new position in CleanSpark during the first quarter worth about $1,405,000. Cetera Advisors LLC boosted its position in shares of CleanSpark by 73.4% in the first quarter. Cetera Advisors LLC now owns 19,892 shares of the company’s stock worth $422,000 after acquiring an additional 8,417 shares during the last quarter. Virtu Financial LLC acquired a new position in CleanSpark during the first quarter worth approximately $237,000. Comerica Bank purchased a new position in CleanSpark during the first quarter worth approximately $1,894,000. Finally, California State Teachers Retirement System boosted its holdings in shares of CleanSpark by 15.7% in the 1st quarter. California State Teachers Retirement System now owns 185,781 shares of the company’s stock valued at $3,940,000 after purchasing an additional 25,145 shares during the last quarter. Institutional investors and hedge funds own 43.12% 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.