CleanSpark, Inc. (NASDAQ:CLSK) Short Interest Update

CleanSpark, Inc. (NASDAQ:CLSK) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 41,420,000 shares, an increase of 8.5% from the August 15th total of 38,190,000 shares. Based on an average daily trading volume, of 27,320,000 shares, the short-interest ratio is presently 1.5 days.

CleanSpark Trading Down 3.4 %

CLSK traded down $0.31 during trading on Wednesday, hitting $8.84. The company had a trading volume of 19,176,852 shares, compared to its average volume of 30,618,033. The business has a 50-day moving average of $12.70 and a 200-day moving average of $15.64. CleanSpark has a 1-year low of $3.38 and a 1-year high of $24.72.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). The company had revenue of $104.11 million during the quarter, compared to analyst estimates of $114.04 million. CleanSpark had a negative net margin of 46.31% and a negative return on equity of 3.64%. As a group, research analysts expect that CleanSpark will post -0.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on CLSK. Cantor Fitzgerald reissued an “overweight” rating and set a $23.00 target price on shares of CleanSpark in a research report on Tuesday, September 3rd. HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. reduced their target price on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. One investment 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 $18.97.

Insider Buying and Selling at CleanSpark

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of CleanSpark stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total transaction of $205,331.28. Following the transaction, the director now directly owns 137,050 shares of the company’s stock, valued at $1,266,342. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 26,272 shares of company stock valued at $264,421 over the last ninety days. Corporate insiders own 3.46% of the company’s stock.

Institutional Trading of CleanSpark

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in CleanSpark by 58.5% in the first quarter. Vanguard Group Inc. now owns 12,755,249 shares of the company’s stock valued at $270,539,000 after acquiring an additional 4,706,738 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in CleanSpark by 62.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,433,586 shares of the company’s stock valued at $93,032,000 after purchasing an additional 3,235,171 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in CleanSpark by 11.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,379,611 shares of the company’s stock valued at $15,217,000 after purchasing an additional 142,078 shares during the last quarter. Millennium Management LLC increased its stake in CleanSpark by 74.6% during the second quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock valued at $19,958,000 after purchasing an additional 534,825 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in CleanSpark during the second quarter valued at $18,074,000. 43.12% of the stock is 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.