Short Interest in CleanSpark, Inc. (NASDAQ:CLSK) Grows By 6.1%

CleanSpark, Inc. (NASDAQ:CLSK) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 60,030,000 shares, a growth of 6.1% from the November 30th total of 56,560,000 shares. Based on an average daily trading volume, of 34,680,000 shares, the short-interest ratio is presently 1.7 days.

Institutional Investors Weigh In On CleanSpark

Large investors have recently made changes to their positions in the stock. Hollencrest Capital Management boosted its stake in CleanSpark by 33.3% in the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $37,000 after purchasing an additional 1,000 shares during the period. FMR LLC boosted its position in shares of CleanSpark by 5.0% during the third quarter. FMR LLC now owns 24,729 shares of the company’s stock worth $231,000 after buying an additional 1,170 shares during the period. Amalgamated Bank grew its holdings in shares of CleanSpark by 18.4% during 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 in the last quarter. DekaBank Deutsche Girozentrale raised its position in CleanSpark by 21.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock valued at $75,000 after buying an additional 1,345 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in CleanSpark by 2.6% in the 3rd quarter. Victory Capital Management Inc. now owns 67,981 shares of the company’s stock valued at $635,000 after acquiring an additional 1,709 shares in the last quarter. Institutional investors own 43.12% of the company’s stock.

Analyst Ratings Changes

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

CleanSpark Stock Up 0.7 %

Shares of CLSK traded up $0.06 on Thursday, hitting $9.27. The company’s stock had a trading volume of 11,351,985 shares, compared to its average volume of 31,514,195. The firm’s fifty day moving average price is $12.67 and its 200-day moving average price is $12.76. CleanSpark has a fifty-two week low of $6.41 and a fifty-two week high of $24.72. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of -15.98 and a beta of 4.16.

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.