Stock Traders Buy High Volume of CleanSpark Call Options (NASDAQ:CLSK)

CleanSpark, Inc. (NASDAQ:CLSK) was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 210,912 call options on the company. This represents an increase of approximately 79% compared to the typical daily volume of 117,777 call options.

CleanSpark Price Performance

Shares of CLSK opened at $10.91 on Friday. CleanSpark has a one year low of $6.41 and a one year high of $24.72. The stock has a 50-day moving average of $12.94 and a 200-day moving average of $13.18. The company has a market cap of $3.19 billion, a PE ratio of -18.81 and a beta of 4.16.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and upped their price target for the company from $10.50 to $17.00 in a research report on Tuesday, December 10th. Macquarie increased their price target on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a research note on Thursday, October 3rd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $23.17.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CLSK. Geode Capital Management LLC grew its stake in shares of 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 acquiring an additional 549,187 shares in the last quarter. State Street Corp raised its position in CleanSpark by 4.5% in the third quarter. State Street Corp now owns 6,073,912 shares of the company’s stock worth $56,730,000 after acquiring an additional 261,195 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in CleanSpark by 10.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock valued at $20,500,000 after acquiring an additional 208,862 shares during the last quarter. Van ECK Associates Corp grew its position in shares of CleanSpark by 64.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,590,688 shares of the company’s stock valued at $14,857,000 after acquiring an additional 620,792 shares during the period. Finally, Millennium Management LLC increased its stake in shares of CleanSpark by 74.6% during the 2nd quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock worth $19,958,000 after purchasing an additional 534,825 shares during the last quarter. 43.12% of the stock is owned by institutional investors.

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.