CleanSpark Sees Unusually High Options Volume (NASDAQ:CLSK)

CleanSpark, Inc. (NASDAQ:CLSK) saw some unusual options trading on Monday. Stock investors purchased 155,026 call options on the company. This is an increase of 55% compared to the typical volume of 99,698 call options.

Insider Buying and Selling at CleanSpark

In other CleanSpark 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 completion of the transaction, the director now directly owns 137,050 shares of the company’s stock, valued at approximately $1,266,342. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 26,272 shares of company stock valued at $250,003. 2.99% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CleanSpark

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in CleanSpark by 58.5% in the 1st 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. Marshall Wace LLP bought a new stake in CleanSpark in the 2nd quarter valued at approximately $18,074,000. Van ECK Associates Corp lifted its stake in CleanSpark by 64.0% in 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 in the last quarter. Millennium Management LLC lifted its stake in CleanSpark by 74.6% in the 2nd quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock valued at $19,958,000 after acquiring an additional 534,825 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in CleanSpark by 32.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 871,793 shares of the company’s stock valued at $13,905,000 after acquiring an additional 215,124 shares in the last quarter. Institutional investors own 43.12% of the company’s stock.

CleanSpark Stock Performance

CleanSpark stock opened at $17.61 on Tuesday. CleanSpark has a 1 year low of $3.60 and a 1 year high of $24.72. The business has a 50-day moving average of $10.23 and a 200-day moving average of $13.78.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings data on Friday, August 9th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). CleanSpark had a negative net margin of 46.31% and a negative return on equity of 3.64%. The business had revenue of $104.11 million for the quarter, compared to the consensus estimate of $114.04 million. On average, analysts anticipate that CleanSpark will post -0.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price objective on CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a report on Friday, August 23rd. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 target price on shares of CleanSpark in a research note on Thursday, October 3rd. Macquarie assumed coverage on CleanSpark in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $20.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.42.

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.