Key Points
- Amanda Cavaleri, a Cleanspark director, sold 33,000 shares on Dec. 4 at an average price of $15.02, receiving about $495,660 and reducing her ownership by 23.52% to 107,289 shares.
- The stock fell roughly 8.7% and opened at $13.72 (market cap ~$3.51B), while analysts collectively rate Cleanspark a "Moderate Buy" (11 Buys, 1 Hold) with an average price target of $23.20.
Cleanspark, Inc. (NASDAQ:CLSK - Get Free Report) Director Amanda Cavaleri sold 33,000 shares of the company's stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $15.02, for a total value of $495,660.00. Following the completion of the sale, the director owned 107,289 shares in the company, valued at $1,611,480.78. This represents a 23.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Cleanspark Stock Down 8.7%
CLSK opened at $13.72 on Friday. The firm has a market cap of $3.51 billion, a P/E ratio of 12.36 and a beta of 3.79. The business's fifty day simple moving average is $15.89 and its 200 day simple moving average is $12.48. Cleanspark, Inc. has a 52 week low of $6.45 and a 52 week high of $23.61. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.30.
Hedge Funds Weigh In On Cleanspark
Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Cleanspark by 22.8% in the 1st quarter. Vanguard Group Inc. now owns 24,145,612 shares of the company's stock valued at $162,259,000 after purchasing an additional 4,489,866 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Cleanspark during the 3rd quarter worth $56,056,000. Dimensional Fund Advisors LP raised its position in shares of Cleanspark by 57.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,311,221 shares of the company's stock worth $62,521,000 after buying an additional 1,564,761 shares during the period. Nuveen LLC acquired a new position in Cleanspark in the first quarter valued at $8,109,000. Finally, Azora Capital LP acquired a new position in Cleanspark in the third quarter valued at $15,300,000. Institutional investors and hedge funds own 43.12% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Cleanspark from a "neutral" rating to an "overweight" rating and set a $14.00 price objective for the company in a research report on Monday, November 24th. BTIG Research lifted their target price on shares of Cleanspark from $22.00 to $26.00 and gave the stock a "buy" rating in a research note on Monday, October 13th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Cleanspark in a report on Tuesday. Needham & Company LLC raised their price objective on Cleanspark from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, November 26th. Finally, B. Riley lowered their price objective on Cleanspark from $25.00 to $22.00 and set a "buy" rating for the company in a research report on Wednesday, November 26th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $23.20.
Check Out Our Latest Report on Cleanspark
Cleanspark Company Profile
(
Get Free Report)
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.
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