Traders Purchase High Volume of Call Options on Cleanspark (NASDAQ:CLSK)

Cleanspark, Inc. (NASDAQ:CLSK) saw unusually large options trading on Tuesday. Stock investors bought 95,624 call options on the company. This represents an increase of 49% compared to the typical volume of 63,983 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System raised its stake in shares of Cleanspark by 37.7% in the fourth quarter. New York State Teachers Retirement System now owns 341,749 shares of the company’s stock valued at $3,458,000 after acquiring an additional 93,649 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in shares of Cleanspark during the fourth quarter valued at $2,019,000. Benchmark Financial LLC bought a new position in shares of Cleanspark in the 4th quarter valued at about $1,255,000. Tudor Investment Corp ET AL boosted its stake in Cleanspark by 496.7% in the third quarter. Tudor Investment Corp ET AL now owns 1,732,268 shares of the company’s stock valued at $25,118,000 after acquiring an additional 1,441,939 shares during the last quarter. Finally, Fiduciary Alliance LLC bought a new position in shares of Cleanspark in the 4th quarter worth $2,203,000. Institutional investors own 43.12% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CLSK shares. Chardan Capital restated a “buy” rating and issued a $19.00 price objective on shares of Cleanspark in a research note on Wednesday, July 8th. HC Wainwright reissued a “buy” rating on shares of Cleanspark in a report on Tuesday. Citigroup initiated coverage on shares of Cleanspark in a research report on Wednesday, June 24th. They issued an “outperform” rating on the stock. Zacks Research upgraded shares of Cleanspark from a “strong sell” rating to a “hold” rating in a report on Friday. Finally, Maxim Group boosted their price objective on shares of Cleanspark from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cleanspark presently has a consensus rating of “Moderate Buy” and an average target price of $21.12.

Key Stories Impacting Cleanspark

Here are the key news stories impacting Cleanspark this week:

• Positive Sentiment: CleanSpark’s $6.6 billion long-term lease with a major global technology company gives investors a much clearer, more predictable revenue stream and signals a meaningful diversification away from pure Bitcoin mining. CleanSpark Secures Twenty-Year Lease with High-Investment Grade Global Technology Company for Data Center in Sandersville, Georgia
• Positive Sentiment: The lease could be even larger over time, with potential revenue rising to $11.6 billion if both five-year extensions are exercised, which strengthens the long-term growth story. CleanSpark shares surge after company secures $6.6B data center lease agreement
• Positive Sentiment: BTIG reaffirmed its Buy rating and raised its price target to $26, reinforcing bullish sentiment after the new lease announcement. BTIG Reiterates Buy Rating on CleanSpark Inc. (CLSK)
• Neutral Sentiment: CleanSpark also reported June Bitcoin production of 614 BTC, which shows the mining business remains active, but investor focus is currently centered more on the new data center lease than on monthly operating output. CleanSpark (CLSK) Reports June Bitcoin Output, Is The 42% Undervalued View Still Credible?
• Negative Sentiment: Earlier articles noted pressure on the stock from a softer earnings outlook and recent share weakness, which helps explain why the market had been cautious before today’s lease-driven rally. CleanSpark (CLSK) Is Down 8.5% After Strong June Bitcoin Output But Softer Earnings Outlook

Cleanspark Stock Performance

Shares of NASDAQ:CLSK traded up $0.66 during trading on Tuesday, hitting $13.02. 48,426,581 shares of the stock were exchanged, compared to its average volume of 23,427,408. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of -6.28 and a beta of 3.83. The company has a debt-to-equity ratio of 1.81, a quick ratio of 8.26 and a current ratio of 8.26. Cleanspark has a 1-year low of $8.00 and a 1-year high of $23.61. The company’s fifty day simple moving average is $15.35 and its 200-day simple moving average is $12.38.

Cleanspark (NASDAQ:CLSK) last issued its earnings results on Monday, May 11th. The company reported ($1.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($1.27). The firm had revenue of $136.41 million during the quarter, compared to analyst estimates of $145.35 million. Cleanspark had a negative net margin of 67.66% and a positive return on equity of 7.07%. The business’s revenue for the quarter was down 24.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.49) earnings per share. Sell-side analysts expect that Cleanspark will post -1.19 EPS for the current fiscal year.

Cleanspark Company Profile

CleanSpark, Inc (NASDAQ: CLSK) is a leading energy software and services company specializing in advanced microgrid controls and distributed energy resource (DER) management. The firm develops proprietary software platforms designed to optimize power flows across on-grid and off-grid installations, integrating renewable generation, battery storage, and traditional generation assets. CleanSpark’s technology is used by utilities, commercial and industrial enterprises, and remote facilities seeking to enhance energy resilience, reduce operating costs, and achieve sustainability goals.

In addition to its core software offerings, CleanSpark provides end-to-end engineering, procurement and construction (EPC) services.