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

CleanSpark, Inc. (NASDAQ:CLSK) was the target of unusually large options trading on Tuesday. Traders purchased 143,242 call options on the company. This is an increase of 32% compared to the typical volume of 108,915 call options.

Analysts Set New Price Targets

CLSK has been the topic of several recent analyst reports. Macquarie assumed coverage on shares of CleanSpark in a research note on Wednesday, September 25th. They set an “outperform” rating and a $20.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of CleanSpark in a report on Tuesday. JPMorgan Chase & Co. decreased 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 restated an “overweight” rating and set a $23.00 target price on shares of CleanSpark in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, CleanSpark has a consensus rating of “Moderate Buy” and an average price target of $21.42.

Insider Buying and Selling

In related news, Director Thomas Leigh Wood sold 22,222 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total value of $205,331.28. Following the sale, the director now directly owns 137,050 shares of the company’s stock, valued at approximately $1,266,342. The trade was a 13.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 26,272 shares of company stock valued at $254,836. 2.99% of the stock is owned by corporate insiders.

Institutional Trading of CleanSpark

Institutional investors have recently modified their holdings of the stock. Quest Partners LLC bought a new stake in CleanSpark during the third quarter worth about $374,000. Quantbot Technologies LP acquired a new position in shares of CleanSpark in the 3rd quarter valued at approximately $1,960,000. Clarity Capital Partners LLC lifted its holdings in shares of CleanSpark by 100.8% during the 3rd quarter. Clarity Capital Partners LLC now owns 175,056 shares of the company’s stock worth $1,635,000 after acquiring an additional 87,891 shares during the period. Intech Investment Management LLC acquired a new stake in shares of CleanSpark during the 3rd quarter worth approximately $674,000. Finally, SRN Advisors LLC increased its stake in CleanSpark by 65.3% in the third quarter. SRN Advisors LLC now owns 261,427 shares of the company’s stock valued at $2,442,000 after acquiring an additional 103,283 shares during the last quarter. 43.12% of the stock is currently owned by institutional investors.

CleanSpark Trading Down 3.9 %

Shares of CLSK opened at $13.95 on Wednesday. CleanSpark has a 12 month low of $6.41 and a 12 month high of $24.72. The firm’s 50 day moving average is $12.06 and its 200-day moving average is $13.51. The stock has a market capitalization of $3.53 billion, a PE ratio of -24.05 and a beta of 4.16.

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.