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

CleanSpark, Inc. (NASDAQ:CLSK) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 26,260,000 shares, an increase of 13.2% from the March 15th total of 23,200,000 shares. Based on an average daily trading volume, of 35,850,000 shares, the short-interest ratio is currently 0.7 days.

Analysts Set New Price Targets

CLSK has been the subject of several recent analyst reports. HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a report on Wednesday, March 27th. JPMorgan Chase & Co. boosted their price target on shares of CleanSpark from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday. TheStreet upgraded shares of CleanSpark from a “d” rating to a “c-” rating in a research report on Friday, February 9th. Chardan Capital upped their target price on shares of CleanSpark from $13.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, Cantor Fitzgerald increased their target price on CleanSpark from $10.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, CleanSpark currently has an average rating of “Moderate Buy” and an average price target of $19.22.

Insider Activity

In other news, CFO Gary Anthony Vecchiarelli sold 26,244 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $20.93, for a total value of $549,286.92. Following the completion of the transaction, the chief financial officer now directly owns 554,391 shares in the company, valued at $11,603,403.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Gary Anthony Vecchiarelli sold 26,244 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $20.93, for a total transaction of $549,286.92. Following the completion of the transaction, the chief financial officer now directly owns 554,391 shares in the company, valued at approximately $11,603,403.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roger Paul Beynon sold 10,976 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $17.85, for a total value of $195,921.60. Following the completion of the sale, the director now owns 141,381 shares in the company, valued at approximately $2,523,650.85. The disclosure for this sale can be found here. Insiders have sold a total of 1,169,620 shares of company stock worth $24,963,509 over the last ninety days. Company insiders own 3.46% of the company’s stock.

Hedge Funds Weigh In On CleanSpark

Large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew its holdings in shares of CleanSpark by 60.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,717 shares of the company’s stock worth $25,000 after purchasing an additional 2,150 shares during the last quarter. Barclays PLC grew its holdings in CleanSpark by 533.2% in the 4th quarter. Barclays PLC now owns 12,253 shares of the company’s stock worth $25,000 after acquiring an additional 10,318 shares during the last quarter. State of Wyoming purchased a new position in shares of CleanSpark in the second quarter valued at about $27,000. Lazard Asset Management LLC raised its stake in shares of CleanSpark by 3,177.3% during the third quarter. Lazard Asset Management LLC now owns 7,931 shares of the company’s stock valued at $29,000 after acquiring an additional 7,689 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in CleanSpark in the third quarter worth $30,000. 43.12% of the stock is owned by hedge funds and other institutional investors.

CleanSpark Price Performance

Shares of CleanSpark stock traded down $1.02 during trading on Friday, reaching $14.85. The company’s stock had a trading volume of 28,466,225 shares, compared to its average volume of 32,064,314. The firm’s 50-day moving average is $16.97 and its two-hundred day moving average is $10.44. CleanSpark has a 52-week low of $3.33 and a 52-week high of $24.72.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.26. The firm had revenue of $73.79 million for the quarter, compared to analysts’ expectations of $66.06 million. CleanSpark had a negative return on equity of 16.25% and a negative net margin of 38.09%. Equities research analysts expect that CleanSpark will post -0.3 EPS 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.