Short Interest in CleanSpark, Inc. (NASDAQ:CLSK) Rises By 13.2%

CleanSpark, Inc. (NASDAQ:CLSK) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 56,560,000 shares, an increase of 13.2% from the November 15th total of 49,980,000 shares. Based on an average daily trading volume, of 31,270,000 shares, the days-to-cover ratio is currently 1.8 days.

CleanSpark Trading Up 3.8 %

Shares of NASDAQ CLSK traded up $0.46 during midday trading on Monday, hitting $12.48. The company’s stock had a trading volume of 48,343,520 shares, compared to its average volume of 31,623,836. CleanSpark has a 12-month low of $6.41 and a 12-month high of $24.72. The firm has a market cap of $3.65 billion, a P/E ratio of -21.52 and a beta of 4.16. The business’s 50 day moving average is $12.71 and its two-hundred day moving average is $13.27.

Institutional Trading of CleanSpark

Large investors have recently made changes to their positions in the stock. Hollencrest Capital Management boosted its position in CleanSpark by 33.3% in the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $37,000 after buying an additional 1,000 shares during the period. National Bank of Canada FI boosted its holdings in shares of CleanSpark by 470.9% in the second 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 during the period. KBC Group NV boosted 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 valued at $69,000 after purchasing an additional 2,190 shares during the period. DekaBank Deutsche Girozentrale grew its stake in CleanSpark by 21.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after purchasing an additional 1,345 shares in the last quarter. Finally, Doliver Advisors LP purchased a new position in CleanSpark during the 3rd quarter worth $117,000. 43.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on CLSK. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a research report on Tuesday, December 3rd. Macquarie boosted their price objective on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upgraded shares of CleanSpark from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $10.50 to $17.00 in a research report on Tuesday, December 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a report on Thursday, October 3rd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $23.17.

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.