CleanSpark, Inc. (NASDAQ:CLSK) Short Interest Update

CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 55,380,000 shares, a growth of 9.9% from the October 15th total of 50,390,000 shares. Based on an average daily trading volume, of 24,000,000 shares, the days-to-cover ratio is presently 2.3 days.

Analyst Upgrades and Downgrades

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

CleanSpark Stock Up 0.4 %

CLSK traded up $0.05 on Friday, hitting $14.03. The company had a trading volume of 31,081,273 shares, compared to its average volume of 36,397,376. CleanSpark has a 1-year low of $3.75 and a 1-year high of $24.72. The company's fifty day moving average price is $10.89 and its 200 day moving average price is $13.72.

Insider Activity

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total value of $205,331.28. Following the completion of the sale, the director now owns 137,050 shares in the company, valued at $1,266,342. This represents a 13.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 26,272 shares of company stock worth $250,003. 2.99% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CleanSpark

Several institutional investors have recently added to or reduced their stakes in CLSK. National Bank of Canada FI raised its stake in shares of 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 during the last quarter. Russell Investments Group Ltd. raised its position in shares of CleanSpark by 36.8% during the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company's stock valued at $62,000 after acquiring an additional 787 shares during the last quarter. Hollencrest Capital Management acquired a new position in shares of CleanSpark in the 2nd quarter valued at $48,000. KBC Group NV boosted its position in shares of CleanSpark by 42.0% in the 3rd quarter. KBC Group NV now owns 7,403 shares of the company's stock worth $69,000 after purchasing an additional 2,190 shares during the last quarter. Finally, Amalgamated Bank grew its stake in shares of CleanSpark by 18.4% during the second quarter. Amalgamated Bank now owns 7,667 shares of the company's stock worth $122,000 after purchasing an additional 1,194 shares during the period. 43.12% of the stock is owned by institutional investors.

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.