Short Interest in CleanSpark, Inc. (NASDAQ:CLSK) Grows By 9.0%

by · The Markets Daily

CleanSpark, Inc. (NASDAQ:CLSK – Get Free Report) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 50,390,000 shares, an increase of 9.0% from the September 30th total of 46,240,000 shares. Based on an average trading volume of 23,330,000 shares, the days-to-cover ratio is currently 2.2 days.

Insider Buying and Selling

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 transaction of $205,331.28. Following the completion of the sale, the director now owns 137,050 shares of the company’s stock, valued at approximately $1,266,342. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 26,272 shares of company stock valued at $250,003 over the last ninety days. 3.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. National Bank of Canada FI increased its position 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 acquiring an additional 2,119 shares in the last quarter. Hollencrest Capital Management bought a new stake in CleanSpark during the 2nd quarter worth approximately $48,000. Russell Investments Group Ltd. increased its holdings in CleanSpark by 36.8% during the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after purchasing an additional 787 shares in the last quarter. DekaBank Deutsche Girozentrale raised 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 purchasing an additional 1,345 shares during the last quarter. Finally, Doliver Advisors LP bought a new position in shares of CleanSpark in the third quarter valued at approximately $117,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

CleanSpark Stock Down 12.0 %

CLSK stock traded down $1.45 during trading on Thursday, reaching $10.61. 33,457,525 shares of the stock were exchanged, compared to its average volume of 30,157,199. The firm’s 50 day moving average is $10.21 and its 200 day moving average is $14.07. CleanSpark has a twelve month low of $3.46 and a twelve month high of $24.72.

CleanSpark (NASDAQ:CLSK – Get Free Report) last issued its earnings results on Friday, August 9th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). CleanSpark had a negative return on equity of 3.64% and a negative net margin of 46.31%. The firm had revenue of $104.11 million for the quarter, compared to analyst estimates of $114.04 million. On average, research analysts expect that CleanSpark will post -0.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CLSK shares. Macquarie assumed coverage on shares of CleanSpark in a research note on Wednesday, September 25th. They set an “outperform” rating and a $20.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a research report on Thursday, October 3rd. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. decreased their target price on CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a research note on Friday, August 23rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.11.

Get Our Latest Stock Report on CleanSpark

About CleanSpark

(Get Free Report)

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.

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