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

CleanSpark, Inc. (NASDAQ:CLSK) was the recipient of unusually large options trading on Monday. Traders purchased 155,026 call options on the stock. This represents an increase of approximately 55% compared to the average volume of 99,698 call options.

Wall Street Analyst Weigh In

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

CleanSpark Trading Up 0.1 %

Shares of CleanSpark stock opened at $17.63 on Wednesday. CleanSpark has a 12 month low of $3.60 and a 12 month high of $24.72. The business’s 50-day moving average price is $10.54 and its 200-day moving average price is $13.75.

Insiders Place Their Bets

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of CleanSpark stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $9.24, for a total transaction of $205,331.28. Following the completion of the transaction, the director now owns 137,050 shares of the company’s stock, valued at $1,266,342. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 26,272 shares of company stock worth $250,003 over the last 90 days. Corporate insiders own 2.99% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. National Bank of Canada FI boosted its stake in shares of CleanSpark by 470.9% in the 2nd quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock valued at $41,000 after purchasing an additional 2,119 shares in the last quarter. Russell Investments Group Ltd. boosted its position in CleanSpark by 36.8% during the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock valued at $62,000 after buying an additional 787 shares during the period. Hollencrest Capital Management bought a new position in shares of CleanSpark during the second quarter valued at about $48,000. KBC Group NV increased its holdings in shares of CleanSpark by 42.0% in the third quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $69,000 after buying an additional 2,190 shares during the period. Finally, Amalgamated Bank increased its holdings in shares of CleanSpark by 18.4% in the second quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock worth $122,000 after buying an additional 1,194 shares during the period. 43.12% of the stock is currently owned by institutional investors.

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.