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

CleanSpark, Inc. (NASDAQ:CLSK) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 60,030,000 shares, an increase 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 currently 1.7 days.

Wall Street Analyst Weigh In

CLSK has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of CleanSpark in a report on Tuesday, December 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a report on Thursday, October 3rd. JPMorgan Chase & Co. upgraded shares of CleanSpark from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $10.50 to $17.00 in a report on Tuesday, December 10th. Finally, Macquarie increased their price target on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $23.17.

CleanSpark Stock Up 0.7 %

Shares of CLSK traded up $0.06 during trading hours on Thursday, hitting $9.27. The company had a trading volume of 11,351,985 shares, compared to its average volume of 31,514,195. The business has a fifty day moving average of $12.67 and a 200-day moving average of $12.76. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of -15.98 and a beta of 4.16. CleanSpark has a 12 month low of $6.41 and a 12 month high of $24.72.

Institutional Investors Weigh In On CleanSpark

A number of hedge funds and other institutional investors have recently modified their holdings of CLSK. Hollencrest Capital Management boosted its stake in shares of CleanSpark by 33.3% in the third 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 lifted its position in shares of CleanSpark by 470.9% during the 2nd quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock valued at $41,000 after acquiring an additional 2,119 shares during the period. KBC Group NV grew its holdings in shares of CleanSpark by 42.0% during the 3rd quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $69,000 after purchasing an additional 2,190 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of 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 during the period. Finally, Doliver Advisors LP acquired a new position in CleanSpark in the third quarter valued at about $117,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

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.