BofA update shows where active managers are putting money
On March 24, Amanda Cavaleri, a director at CleanSpark , Inc. (NASDAQ:CLSK), sold 13,000 shares of common stock, totaling $103,600. The transaction comes as the company shows strong revenue growth of 118% over the last twelve months, though InvestingPro analysis indicates the stock is trading near its Fair Value. The shares were sold at prices ranging from $7.36 to $9.34 per share. Following these transactions, Cavaleri holds 140,289 shares directly. This figure includes 34,130 restricted stock units (RSUs) granted in October 2024, which are set to vest in quarterly installments throughout 2025. With a market capitalization of $2.47 billion and a P/E ratio of 32, investors seeking deeper insights into insider trading patterns and valuation metrics can access comprehensive analysis through InvestingPro, which offers 14 additional key insights for this stock.
In other recent news, CleanSpark, Inc. reported impressive first quarter earnings, with earnings per share (EPS) of $0.83, significantly surpassing the analyst estimate of $0.17. The company’s revenue reached $162.3 million, exceeding the consensus estimate of $153.06 million and marking a substantial 120% increase from the previous year’s same quarter. CleanSpark’s net income also saw a remarkable rise, with $246.8 million reported, up from $25.9 million in the prior year. Additionally, CleanSpark is set to join the S&P SmallCap 600 index, a move expected to enhance its visibility among potential investors.
Cantor Fitzgerald recently adjusted its price target for CleanSpark to $17 from $23, maintaining an Overweight rating, indicating continued confidence in the company’s strategic focus on Bitcoin mining. Furthermore, CleanSpark announced an increase in its Bitcoin holdings, reaching 11,177 bitcoins, and reported advancements in its mining capabilities with an operating hashrate of 40.7 exahashes per second. The company also held its Annual Meeting, where shareholders elected six directors and approved executive compensation, reflecting support for its leadership.
These developments highlight CleanSpark’s strategic growth and operational achievements, positioning the company for future expansion in the Bitcoin mining sector.
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