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

CleanSpark, Inc. (NASDAQ:CLSK) was the target of some unusual options trading on Tuesday. Investors bought 143,242 call options on the stock. This is an increase of approximately 32% compared to the average daily volume of 108,915 call options.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a research report on Thursday, October 3rd. Macquarie started coverage on CleanSpark in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price objective on CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. One equities 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 a consensus rating of “Moderate Buy” and an average price target of $21.42.

Insider Buying and Selling at CleanSpark

In other CleanSpark 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 completion of the transaction, the director now owns 137,050 shares of the company’s stock, valued at approximately $1,266,342. The trade was a 13.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 26,272 shares of company stock valued at $254,836. 2.99% of the stock is currently owned by company insiders.

Institutional Trading of CleanSpark

A number of institutional investors have recently made changes to their positions in the company. Marshall Wace LLP purchased a new stake in CleanSpark in the second quarter valued at $18,074,000. Van ECK Associates Corp raised its holdings in shares of CleanSpark by 64.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,590,688 shares of the company’s stock valued at $14,857,000 after buying an additional 620,792 shares during the period. Geode Capital Management LLC grew its stake in CleanSpark by 9.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock worth $57,577,000 after purchasing an additional 549,187 shares in the last quarter. Millennium Management LLC grew its stake in CleanSpark by 74.6% during the 2nd 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 in the last quarter. Finally, Barclays PLC grew its stake in CleanSpark by 364.0% during the 3rd quarter. Barclays PLC now owns 389,201 shares of the company’s stock worth $3,634,000 after purchasing an additional 305,316 shares in the last quarter. 43.12% of the stock is owned by institutional investors and hedge funds.

CleanSpark Stock Down 3.0 %

CLSK stock traded down $0.43 during trading on Tuesday, hitting $14.09. 35,348,955 shares of the company traded hands, compared to its average volume of 31,090,641. CleanSpark has a 1 year low of $6.41 and a 1 year high of $24.72. The stock’s 50-day simple moving average is $11.97 and its 200 day simple moving average is $13.53.

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.