CleanSpark, Inc. (NASDAQ:CLSK) Short Interest Up 9.9% in October

CleanSpark, Inc. (NASDAQ:CLSK) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 55,380,000 shares, an increase of 9.9% from the October 15th total of 50,390,000 shares. Based on an average daily volume of 24,000,000 shares, the days-to-cover ratio is currently 2.3 days.

CleanSpark Stock Performance

NASDAQ CLSK traded down $0.49 on Monday, hitting $13.54. 27,272,873 shares of the stock were exchanged, compared to its average volume of 30,582,484. The business’s fifty day moving average is $10.89 and its 200 day moving average is $13.70. CleanSpark has a 52 week low of $4.04 and a 52 week high of $24.72.

Analyst Ratings Changes

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

Insider Activity

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the 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 in the company, valued at approximately $1,266,342. This represents a 13.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 26,272 shares of company stock valued at $250,003 in the last 90 days. 2.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On CleanSpark

Several hedge funds have recently bought and sold shares of CLSK. Vanguard Group Inc. raised its stake in CleanSpark by 58.5% in the first quarter. Vanguard Group Inc. now owns 12,755,249 shares of the company’s stock valued at $270,539,000 after buying an additional 4,706,738 shares during the period. Geode Capital Management LLC boosted its position in shares of 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 acquiring an additional 549,187 shares in the last quarter. State Street Corp grew its position in CleanSpark by 4.5% in the third quarter. State Street Corp now owns 6,073,912 shares of the company’s stock valued at $56,730,000 after acquiring an additional 261,195 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of CleanSpark by 10.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock worth $20,500,000 after buying an additional 208,862 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake 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 acquiring an additional 620,792 shares during the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

About CleanSpark

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.