Cleanspark Target of Unusually High Options Trading (NASDAQ:CLSK)

Cleanspark, Inc. (NASDAQ:CLSK) saw some unusual options trading on Wednesday. Traders purchased 162,591 call options on the company. This is an increase of approximately 46% compared to the average volume of 111,436 call options.

Insider Transactions at Cleanspark

In other news, COO Taylor Monnig sold 63,713 shares of Cleanspark stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $9.12, for a total transaction of $581,062.56. Following the completion of the sale, the chief operating officer directly owned 120,337 shares of the company’s stock, valued at approximately $1,097,473.44. The trade was a 34.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cleanspark

A number of institutional investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. raised its stake in shares of Cleanspark by 115.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock worth $25,000 after buying an additional 937 shares in the last quarter. Quarry LP acquired a new position in Cleanspark during the third quarter worth $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Cleanspark in the second quarter worth $29,000. Fifth Third Bancorp raised its position in Cleanspark by 145.3% in the second quarter. Fifth Third Bancorp now owns 2,860 shares of the company’s stock worth $32,000 after acquiring an additional 1,694 shares in the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in Cleanspark in the third quarter valued at $32,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Wall Street Analyst Weigh In

CLSK has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Cleanspark in a research note on Wednesday, October 8th. B. Riley reduced their target price on Cleanspark from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday. Sanford C. Bernstein upped their target price on Cleanspark from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. BTIG Research lifted their price target on Cleanspark from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Finally, JPMorgan Chase & Co. upgraded Cleanspark from a “neutral” rating to an “overweight” rating and set a $14.00 price objective for the company in a research note on Monday. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.20.

Cleanspark Stock Up 13.8%

Shares of NASDAQ:CLSK opened at $13.45 on Thursday. Cleanspark has a fifty-two week low of $6.45 and a fifty-two week high of $23.61. The firm’s 50-day simple moving average is $15.81 and its 200-day simple moving average is $12.28. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 12.12 and a beta of 3.79.

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.