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

CleanSpark, Inc. (NASDAQ:CLSK) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totalling 45,040,000 shares, an increase of 8.7% from the August 31st total of 41,420,000 shares. Based on an average daily volume of 25,150,000 shares, the short-interest ratio is currently 1.8 days.

Insiders Place Their Bets

In other news, Director Thomas Leigh Wood sold 22,222 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $9.24, for a total value of $205,331.28. Following the sale, the director now directly owns 137,050 shares in the company, valued at $1,266,342. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 26,272 shares of company stock worth $256,874. Corporate insiders own 3.46% of the company’s stock.

Institutional Trading of CleanSpark

Several hedge funds and other institutional investors have recently bought and sold shares of CLSK. American Capital Advisory LLC bought a new position in CleanSpark in the 1st quarter valued at about $32,000. National Bank of Canada FI increased its holdings 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 in the last quarter. Hollencrest Capital Management bought a new position in shares of CleanSpark in the 2nd quarter valued at $48,000. Russell Investments Group Ltd. boosted its holdings 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 in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of CleanSpark during the 1st quarter valued at $109,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CLSK shares. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of CleanSpark in a research report on Wednesday, September 25th. Macquarie began coverage on CleanSpark in a research report on Wednesday, September 25th. They set an “outperform” rating and a $20.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a report on Tuesday, September 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 report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.11.

CleanSpark Price Performance

Shares of NASDAQ:CLSK traded down $0.72 on Tuesday, hitting $8.62. The company had a trading volume of 17,923,396 shares, compared to its average volume of 30,212,326. The stock has a 50 day moving average price of $11.40 and a 200 day moving average price of $15.21. CleanSpark has a 1-year low of $3.38 and a 1-year high of $24.72.

CleanSpark (NASDAQ:CLSK) last posted its earnings results on Friday, August 9th. The company reported $0.01 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%. Equities 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.