CleanSpark Target of Unusually Large Options Trading (NASDAQ:CLSK)

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

Wall Street Analyst Weigh In

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

CleanSpark Stock Down 3.9 %

Shares of CleanSpark stock opened at $13.95 on Wednesday. CleanSpark has a 12 month low of $6.41 and a 12 month high of $24.72. The business has a fifty day simple moving average of $12.06 and a 200 day simple moving average of $13.51. The stock has a market cap of $3.53 billion, a PE ratio of -24.05 and a beta of 4.16.

Insider Transactions at CleanSpark

In related news, Director Thomas Leigh Wood sold 22,222 shares of CleanSpark stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $9.24, for a total value of $205,331.28. Following the completion of the transaction, the director now directly owns 137,050 shares of the company’s stock, valued at $1,266,342. The trade was a 13.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 26,272 shares of company stock valued at $254,836 in the last three months. 2.99% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CleanSpark

Several institutional investors have recently modified their holdings of the stock. National Bank of Canada FI grew its holdings in CleanSpark by 470.9% during the second quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock valued at $41,000 after purchasing an additional 2,119 shares during the period. Hollencrest Capital Management acquired a new position in shares of CleanSpark in the 2nd quarter valued at $48,000. KBC Group NV increased its position in shares of CleanSpark by 42.0% in the 3rd quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $69,000 after buying an additional 2,190 shares in the last quarter. Amalgamated Bank raised its stake in CleanSpark by 18.4% during the 2nd quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock worth $122,000 after buying an additional 1,194 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in CleanSpark by 21.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after acquiring an additional 1,345 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

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.