Short Interest in CleanSpark, Inc. (NASDAQ:CLSK) Rises By 9.9%

CleanSpark, Inc. (NASDAQ:CLSK) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 55,380,000 shares, an increase of 9.9% from the October 15th total of 50,390,000 shares. Based on an average daily volume of 24,000,000 shares, the short-interest ratio is currently 2.3 days.

CleanSpark Price Performance

Shares of CleanSpark stock opened at $13.38 on Tuesday. CleanSpark has a one year low of $4.04 and a one year high of $24.72. The business has a 50-day simple moving average of $10.89 and a 200-day simple moving average of $13.70.

Analysts Set New Price Targets

Several brokerages recently issued reports on CLSK. HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a report on Wednesday, September 25th. Macquarie began coverage on shares of CleanSpark in a report on Wednesday, September 25th. They issued an “outperform” rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a report on Friday, August 23rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a research note on Thursday, October 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.42.

Insider Buying and Selling

In other news, Director Thomas Leigh Wood sold 22,222 shares of CleanSpark stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $9.24, for a total transaction of $205,331.28. Following the transaction, the director now owns 137,050 shares in the company, valued at $1,266,342. The trade was a 13.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 26,272 shares of company stock worth $250,003 in the last 90 days. Insiders own 2.99% of the company’s stock.

Institutional Trading of CleanSpark

Several large investors have recently bought and sold shares of CLSK. Arete Wealth Advisors LLC acquired a new stake in shares of CleanSpark during the third quarter valued at $903,000. Geode Capital Management LLC boosted its stake in CleanSpark by 9.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock worth $57,577,000 after buying an additional 549,187 shares during the last quarter. Barclays PLC boosted its stake in CleanSpark by 364.0% in the 3rd quarter. Barclays PLC now owns 389,201 shares of the company’s stock worth $3,634,000 after buying an additional 305,316 shares during the last quarter. Main Management ETF Advisors LLC acquired a new stake in CleanSpark in the 3rd quarter worth about $486,000. Finally, Kovitz Investment Group Partners LLC boosted its stake in CleanSpark by 85.8% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 184,950 shares of the company’s stock worth $1,727,000 after buying an additional 85,388 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

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.