Short Interest in CleanSpark, Inc. (NASDAQ:CLSK) Expands By 9.9%

CleanSpark, Inc. (NASDAQ:CLSK) saw a large growth in short interest during the month of 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 volume of 24,000,000 shares, the days-to-cover ratio is currently 2.3 days.

Insider Buying and Selling

In related news, Director Thomas Leigh Wood sold 22,222 shares of the firm’s stock in a transaction on 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 $1,266,342. This trade represents a 13.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 26,272 shares of company stock worth $250,003 in the last three months. 2.99% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Clarity Capital Partners LLC raised its stake in CleanSpark by 100.8% during the third quarter. Clarity Capital Partners LLC now owns 175,056 shares of the company’s stock worth $1,635,000 after buying an additional 87,891 shares during the last quarter. Swiss National Bank raised its position in shares of CleanSpark by 21.3% in the 1st 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 in the last quarter. SRN Advisors LLC lifted its stake in shares of CleanSpark by 65.3% in the 3rd quarter. SRN Advisors LLC now owns 261,427 shares of the company’s stock valued at $2,442,000 after purchasing an additional 103,283 shares during the period. Vanguard Group Inc. boosted its position in shares of CleanSpark by 58.5% during the 1st quarter. Vanguard Group Inc. now owns 12,755,249 shares of the company’s stock valued at $270,539,000 after purchasing an additional 4,706,738 shares in the last quarter. Finally, Millennium Management LLC grew its stake in CleanSpark by 74.6% during the second quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock worth $19,958,000 after purchasing an additional 534,825 shares during the period. Institutional investors and hedge funds own 43.12% of the company’s stock.

CleanSpark Stock Up 0.4 %

CleanSpark stock opened at $14.03 on Friday. The stock’s 50 day moving average is $10.89 and its 200 day moving average is $13.72. CleanSpark has a one year low of $3.75 and a one year high of $24.72.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Macquarie assumed coverage on CleanSpark in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $20.00 target price for the company. JPMorgan Chase & Co. dropped their price objective on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a report on Friday, August 23rd. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research report on Wednesday, September 25th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 price target on shares of CleanSpark in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CleanSpark presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.42.

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.