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, July 26th. The stock was sold at an average price of $16.97, for a total value of $22,909.50. Following the sale, the chief technology officer now directly owns 212,352 shares of the company’s stock, valued at $3,603,613.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Friday, June 28th, Taylor Monnig sold 1,350 shares of CleanSpark stock. The shares were sold at an average price of $16.03, for a total value of $21,640.50.
• 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 value of $22,477.50.

CleanSpark Trading Up 5.8 %

Shares of NASDAQ:CLSK traded up $0.94 during midday trading on Friday, hitting $17.12. The company’s stock had a trading volume of 26,149,223 shares, compared to its average volume of 32,949,754. The stock’s 50 day simple moving average is $17.05 and its 200 day simple moving average is $15.80. CleanSpark, Inc. has a fifty-two week low of $3.38 and a fifty-two week high of $24.72.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLSK. American Capital Advisory LLC bought a new position in shares of CleanSpark in the first quarter valued at approximately $32,000. Russell Investments Group Ltd. raised its position in CleanSpark by 36.8% in the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after purchasing an additional 787 shares during the last quarter. Signaturefd LLC raised its position in CleanSpark by 100.0% in the 4th quarter. Signaturefd LLC now owns 9,000 shares of the company’s stock worth $99,000 after purchasing an additional 4,500 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in CleanSpark in the 1st quarter worth approximately $109,000. Finally, Copperwynd Financial LLC bought a new position in CleanSpark in the 4th quarter worth approximately $112,000. Institutional investors own 43.12% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on CLSK shares. Cantor Fitzgerald raised their price target on CleanSpark from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their price objective on CleanSpark from $15.00 to $12.50 and set a “neutral” rating on the stock in a research note on Tuesday, June 4th. Chardan Capital reaffirmed a “buy” rating and set a $26.00 target price on shares of CleanSpark in a research report on Monday, May 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a report on Friday, June 28th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.13.

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.