Short Interest in CleanSpark, Inc. (NASDAQ:CLSK) Expands By 6.1%

CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 60,030,000 shares, a growth of 6.1% from the November 30th total of 56,560,000 shares. Based on an average daily volume of 34,680,000 shares, the short-interest ratio is currently 1.7 days.

CleanSpark Price Performance

Shares of CLSK traded up $0.24 during midday trading on Thursday, reaching $9.45. The stock had a trading volume of 26,405,836 shares, compared to its average volume of 31,514,195. The company has a market capitalization of $2.76 billion, a P/E ratio of -16.29 and a beta of 4.16. The firm's 50 day moving average price is $12.67 and its 200-day moving average price is $12.76. CleanSpark has a 52 week low of $6.41 and a 52 week high of $24.72.

Institutional Investors Weigh In On CleanSpark

Institutional investors and hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management raised its holdings in shares of CleanSpark by 33.3% in 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 holdings in shares of CleanSpark by 470.9% in the second quarter. National Bank of Canada FI now owns 2,569 shares of the company's stock valued at $41,000 after buying an additional 2,119 shares in the last quarter. KBC Group NV lifted its position in shares of CleanSpark by 42.0% during the 3rd quarter. KBC Group NV now owns 7,403 shares of the company's stock valued at $69,000 after acquiring an additional 2,190 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of CleanSpark by 21.2% during the 3rd 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. Finally, Doliver Advisors LP bought a new stake in shares of CleanSpark during the 3rd quarter worth $117,000. 43.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $23.00 price target on shares of CleanSpark in a research note on Thursday, October 3rd. HC Wainwright reissued a "buy" rating and issued a $27.00 price objective on shares of CleanSpark in a report on Tuesday, December 3rd. Macquarie lifted their target price on CleanSpark from $20.00 to $24.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised CleanSpark from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $10.50 to $17.00 in a research note on Tuesday, December 10th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $23.17.

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.