CleanSpark, Inc. (NASDAQ:CLSK) Short Interest Up 13.2% in November

CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) saw a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 56,560,000 shares, a growth of 13.2% from the November 15th total of 49,980,000 shares. Based on an average trading volume of 31,270,000 shares, the short-interest ratio is currently 1.8 days.

Hedge Funds Weigh In On CleanSpark

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management increased its stake in shares of CleanSpark by 33.3% during the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock worth $37,000 after purchasing an additional 1,000 shares in the last quarter. National Bank of Canada FI increased its position in CleanSpark by 470.9% during the second quarter. National Bank of Canada FI now owns 2,569 shares of the company's stock worth $41,000 after buying an additional 2,119 shares in the last quarter. KBC Group NV raised its holdings in shares of CleanSpark by 42.0% in the third quarter. KBC Group NV now owns 7,403 shares of the company's stock worth $69,000 after acquiring an additional 2,190 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of CleanSpark by 21.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company's stock valued at $75,000 after acquiring an additional 1,345 shares in the last quarter. Finally, Doliver Advisors LP acquired a new stake in shares of CleanSpark during the third quarter valued at $117,000. Institutional investors and hedge funds own 43.12% of the company's stock.

Analysts Set New Price Targets

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

CleanSpark Price Performance

CleanSpark stock traded up $0.46 during trading hours on Monday, hitting $12.48. The stock had a trading volume of 48,343,520 shares, compared to its average volume of 31,623,836. CleanSpark has a 1-year low of $6.41 and a 1-year high of $24.72. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of -21.52 and a beta of 4.16. The stock's fifty day moving average is $12.71 and its two-hundred day moving average is $13.27.

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.