Vontobel Holding Ltd. Acquires 18,011 Shares of CleanSpark, Inc. (NASDAQ:CLSK)

Vontobel Holding Ltd. grew its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 72.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,744 shares of the company’s stock after buying an additional 18,011 shares during the quarter. Vontobel Holding Ltd.’s holdings in CleanSpark were worth $471,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in CleanSpark by 21.7% during the third quarter. Vanguard Group Inc. now owns 7,533,197 shares of the company’s stock worth $28,701,000 after buying an additional 1,345,135 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in CleanSpark by 119.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,757,431 shares of the company’s stock worth $19,384,000 after buying an additional 957,372 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in CleanSpark by 273.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,237,533 shares of the company’s stock worth $4,715,000 after buying an additional 905,993 shares during the period. Van ECK Associates Corp lifted its holdings in CleanSpark by 39.2% during the third quarter. Van ECK Associates Corp now owns 1,200,176 shares of the company’s stock worth $4,573,000 after buying an additional 338,190 shares during the period. Finally, Stifel Financial Corp lifted its holdings in shares of CleanSpark by 1.0% during the 3rd quarter. Stifel Financial Corp now owns 870,038 shares of the company’s stock valued at $3,315,000 after purchasing an additional 8,975 shares during the last quarter. Institutional investors own 43.12% of the company’s stock.

Analyst Upgrades and Downgrades

CLSK has been the subject of several analyst reports. TheStreet upgraded CleanSpark from a “d” rating to a “c-” rating in a report on Friday, February 9th. JPMorgan Chase & Co. increased their price target on CleanSpark from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. BTIG Research increased their price target on CleanSpark from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Chardan Capital increased their price target on CleanSpark from $13.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, Cantor Fitzgerald increased their price target on CleanSpark from $10.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, CleanSpark currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.22.

Insider Activity

In other news, Chairman S. Matthew Schultz sold 367,000 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $23.07, for a total transaction of $8,466,690.00. Following the sale, the chairman now directly owns 2,298,975 shares in the company, valued at approximately $53,037,353.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman S. Matthew Schultz sold 367,000 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $23.07, for a total value of $8,466,690.00. Following the transaction, the chairman now directly owns 2,298,975 shares of the company’s stock, valued at approximately $53,037,353.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Zachary Bradford sold 443,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $20.31, for a total transaction of $8,997,330.00. Following the completion of the transaction, the chief executive officer now directly owns 2,795,863 shares in the company, valued at $56,783,977.53. The disclosure for this sale can be found here. Insiders have sold 1,169,620 shares of company stock worth $24,963,509 in the last ninety days. Company insiders own 3.46% of the company’s stock.

CleanSpark Stock Up 11.0 %

Shares of CLSK opened at $19.09 on Tuesday. CleanSpark, Inc. has a fifty-two week low of $3.33 and a fifty-two week high of $24.72. The business’s 50-day moving average is $17.58 and its two-hundred day moving average is $10.97.

CleanSpark (NASDAQ:CLSK) last posted its earnings results on Thursday, February 8th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.26. CleanSpark had a negative return on equity of 16.25% and a negative net margin of 38.09%. The firm had revenue of $73.79 million for the quarter, compared to analysts’ expectations of $66.06 million. On average, analysts anticipate that CleanSpark, Inc. will post -0.3 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.