Taylor Monnig Sells 1,350 Shares of CleanSpark, Inc. (NASDAQ:CLSK) Stock

CleanSpark, Inc. (NASDAQ:CLSK) CTO Taylor Monnig sold 1,350 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $10.44, for a total value of $14,094.00. Following the transaction, the chief technology officer now owns 209,652 shares in the company, valued at approximately $2,188,766.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, August 30th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The stock was sold at an average price of $10.77, for a total value of $14,539.50.
• On Friday, July 26th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The shares were sold at an average price of $16.97, for a total value of $22,909.50.

CleanSpark Stock Up 0.4 %

NASDAQ:CLSK opened at $10.13 on Monday. The stock has a 50 day moving average price of $11.57 and a 200 day moving average price of $15.27. CleanSpark, Inc. has a one year low of $3.38 and a one year high of $24.72.

CleanSpark (NASDAQ:CLSK) last issued its earnings results on Friday, August 9th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The company had revenue of $104.11 million during the quarter, compared to analyst estimates of $114.04 million. CleanSpark had a negative return on equity of 3.64% and a negative net margin of 46.31%. As a group, equities analysts forecast that CleanSpark, Inc. will post -0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CleanSpark

A number of institutional investors have recently bought and sold shares of CLSK. Vanguard Group Inc. increased its holdings in shares of CleanSpark by 58.5% during the 1st quarter. Vanguard Group Inc. now owns 12,755,249 shares of the company’s stock worth $270,539,000 after buying an additional 4,706,738 shares during the last quarter. Millennium Management LLC grew its position in CleanSpark by 74.6% in the second quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock worth $19,958,000 after acquiring an additional 534,825 shares during the period. Marshall Wace LLP purchased a new position in CleanSpark in the second quarter worth approximately $18,074,000. Van ECK Associates Corp increased its stake in CleanSpark by 21.5% during the second quarter. Van ECK Associates Corp now owns 969,896 shares of the company’s stock worth $15,470,000 after acquiring an additional 171,627 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in CleanSpark by 32.8% in the second quarter. Bank of New York Mellon Corp now owns 871,793 shares of the company’s stock valued at $13,905,000 after purchasing an additional 215,124 shares during the period. 43.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $23.00 price objective on shares of CleanSpark in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. lowered their price objective on CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a report on Friday, August 23rd. Macquarie initiated coverage on CleanSpark in a research note on Wednesday, September 25th. They set an “outperform” rating and a $20.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.11.

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.