Insider Selling: Cleanspark (NASDAQ:CLSK) COO Sells $336,821.66 in Stock

Cleanspark, Inc. (NASDAQ:CLSK) COO Taylor Monnig sold 25,249 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $13.34, for a total value of $336,821.66. Following the transaction, the chief operating officer directly owned 236,114 shares of the company’s stock, valued at $3,149,760.76. This trade represents a 9.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Friday, September 4th, Taylor Monnig sold 4,513 shares of Cleanspark stock. The shares were sold at an average price of $12.61, for a total value of $56,908.93.
• On Friday, August 14th, Taylor Monnig sold 54 shares of Cleanspark stock. The shares were sold at an average price of $11.51, for a total value of $621.54.

Cleanspark Stock Performance

Cleanspark stock opened at $13.67 on Friday. The company has a quick ratio of 2.11, a current ratio of 5.91 and a debt-to-equity ratio of 2.34. The stock has a market cap of $3.51 billion, a PE ratio of -3.63 and a beta of 3.84. Cleanspark, Inc. has a 12-month low of $8.00 and a 12-month high of $23.61. The business’s 50-day moving average price is $12.93 and its two-hundred day moving average price is $12.87.

Cleanspark (NASDAQ:CLSK) last posted its earnings results on Thursday, August 6th. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). Cleanspark had a negative return on equity of 18.63% and a negative net margin of 146.90%.The company had revenue of $138.01 million during the quarter, compared to the consensus estimate of $142.37 million. During the same period last year, the company posted $0.90 EPS. The firm’s revenue was down 30.5% compared to the same quarter last year. As a group, analysts expect that Cleanspark, Inc. will post -1.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Chardan Capital restated a “buy” rating and issued a $21.00 target price on shares of Cleanspark in a research report on Monday, August 10th. BTIG Research reiterated a “buy” rating and issued a $26.00 price target on shares of Cleanspark in a research note on Tuesday, July 14th. B. Riley Financial raised their price objective on Cleanspark from $19.00 to $26.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods boosted their price objective on Cleanspark from $16.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 28th. Finally, Citigroup assumed coverage on Cleanspark in a report on Wednesday, June 24th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.88.

Institutional Investors Weigh In On Cleanspark

A number of institutional investors have recently added to or reduced their stakes in the business. CoreCap Advisors LLC raised its stake in shares of Cleanspark by 16.8% during the second quarter. CoreCap Advisors LLC now owns 5,565 shares of the company’s stock valued at $81,000 after acquiring an additional 800 shares during the last quarter. KBC Group NV grew its stake in shares of Cleanspark by 10.7% in the first quarter. KBC Group NV now owns 8,574 shares of the company’s stock worth $73,000 after purchasing an additional 828 shares during the last quarter. Cresset Asset Management LLC grew its stake in shares of Cleanspark by 4.9% in the second quarter. Cresset Asset Management LLC now owns 26,924 shares of the company’s stock worth $297,000 after purchasing an additional 1,248 shares during the last quarter. CreativeOne Wealth LLC increased its holdings in Cleanspark by 11.0% in the third quarter. CreativeOne Wealth LLC now owns 16,893 shares of the company’s stock valued at $245,000 after purchasing an additional 1,680 shares during the period. Finally, Markowski Investments acquired a new stake in Cleanspark in the second quarter valued at $25,000. 43.12% of the stock is owned by institutional investors.

About Cleanspark

CleanSpark, Inc (NASDAQ: CLSK) is a bitcoin mining and energy technology company headquartered in Henderson, Nevada. The company owns and operates data centers that use specialized computing equipment to validate transactions on the Bitcoin network and earn bitcoin rewards.

CleanSpark focuses on developing and expanding mining infrastructure, with operations in the United States, including facilities in Georgia, Mississippi, Tennessee and Wyoming. Its activities include acquiring and deploying mining equipment, managing data-center operations and securing reliable, cost-effective power for its facilities.

The company historically developed software and energy-management solutions before shifting its primary focus toward bitcoin mining.