Stock Traders Purchase High Volume of CleanSpark Call Options (NASDAQ:CLSK)

CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) was the target of unusually large options trading on Monday. Stock traders purchased 155,026 call options on the stock. This is an increase of 55% compared to the average daily volume of 99,698 call options.

Insider Transactions at CleanSpark

In other news, Director Thomas Leigh Wood sold 22,222 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $9.24, for a total transaction of $205,331.28. Following the sale, the director now owns 137,050 shares of the company's stock, valued at approximately $1,266,342. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 26,272 shares of company stock valued at $250,003. 2.99% of the stock is currently owned by corporate insiders.

Institutional Trading of CleanSpark

Several hedge funds and other institutional investors have recently made changes to their positions in CLSK. SG Americas Securities LLC boosted its holdings in CleanSpark by 77.6% in the 1st quarter. SG Americas Securities LLC now owns 95,223 shares of the company's stock valued at $2,020,000 after purchasing an additional 41,605 shares in the last quarter. Swiss National Bank grew its holdings in CleanSpark by 21.3% during the first quarter. Swiss National Bank now owns 364,800 shares of the company's stock worth $7,737,000 after acquiring an additional 64,000 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in CleanSpark during the first quarter worth $615,000. Russell Investments Group Ltd. raised its position in CleanSpark by 36.8% in the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company's stock worth $62,000 after acquiring an additional 787 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in CleanSpark by 39.8% in the first quarter. ProShare Advisors LLC now owns 34,654 shares of the company's stock valued at $735,000 after acquiring an additional 9,858 shares during the period. Hedge funds and other institutional investors own 43.12% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CLSK. HC Wainwright reaffirmed a "buy" rating and set a $27.00 price objective on shares of CleanSpark in a report on Wednesday, September 25th. Macquarie initiated coverage on CleanSpark in a research note on Wednesday, September 25th. They set an "outperform" rating and a $20.00 price target on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $23.00 price target on shares of CleanSpark in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. lowered 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 analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $21.42.

CleanSpark Stock Up 29.8 %

CleanSpark stock traded up $4.04 during mid-day trading on Monday, reaching $17.61. 67,676,480 shares of the company were exchanged, compared to its average volume of 30,369,479. The firm's 50-day simple moving average is $10.23 and its two-hundred day simple moving average is $13.78. CleanSpark has a twelve month low of $3.60 and a twelve month high of $24.72.

CleanSpark (NASDAQ:CLSK - Get Free Report) last announced its quarterly earnings data 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 firm 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 earnings per share for the current year.

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.