CleanSpark Sees Unusually Large Options Volume (NASDAQ:CLSK)

CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) was the recipient of unusually large options trading activity on Friday. Stock traders bought 170,530 call options on the company. This is an increase of 25% compared to the typical volume of 136,951 call options.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Compagnie Lombard Odier SCmA acquired a new position in CleanSpark during the 4th quarter valued at approximately $31,000. GAMMA Investing LLC increased its stake in shares of CleanSpark by 962.1% in the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock worth $36,000 after acquiring an additional 3,579 shares during the period. Hollencrest Capital Management increased its stake in shares of CleanSpark by 33.3% in the third quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock worth $37,000 after acquiring an additional 1,000 shares during the period. KBC Group NV increased its stake 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 period. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of CleanSpark by 21.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company's stock worth $75,000 after acquiring an additional 1,345 shares during the period. Institutional investors own 43.12% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and set a $27.00 price target on shares of CleanSpark in a research note on Friday. JPMorgan Chase & Co. raised shares of CleanSpark from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $10.50 to $17.00 in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods began coverage on shares of CleanSpark in a research report on Monday, January 27th. They issued an "outperform" rating and a $19.00 price objective for the company. Finally, Macquarie boosted their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $22.57.

CleanSpark Trading Down 8.0 %

Shares of CLSK traded down $0.90 during mid-day trading on Tuesday, hitting $10.28. The company's stock had a trading volume of 17,802,245 shares, compared to its average volume of 24,184,820. The company's 50-day moving average is $11.27 and its 200-day moving average is $11.51. CleanSpark has a 52-week low of $8.04 and a 52-week high of $24.72. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 93.51 and a beta of 4.25.

CleanSpark (NASDAQ:CLSK - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.81%. As a group, sell-side analysts predict that CleanSpark will post 0.29 earnings per share for the current fiscal year.

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.