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

Cleanspark, Inc. (NASDAQ:CLSK) saw unusually large options trading on Tuesday. Stock investors acquired 102,104 call options on the stock. This is an increase of 50% compared to the average volume of 68,163 call options.

Cleanspark Stock Up 4.7%

Shares of NASDAQ:CLSK opened at $11.27 on Wednesday. Cleanspark has a 1 year low of $7.03 and a 1 year high of $23.61. The business has a 50 day simple moving average of $9.70 and a two-hundred day simple moving average of $12.65. The firm has a market capitalization of $2.88 billion, a PE ratio of -10.53 and a beta of 3.53. The company has a debt-to-equity ratio of 1.29, a current ratio of 10.54 and a quick ratio of 10.54.

Institutional Trading of Cleanspark

A number of large investors have recently modified their holdings of CLSK. Integrated Wealth Concepts LLC purchased a new stake in shares of Cleanspark in the first quarter valued at approximately $68,000. Caxton Associates LLP purchased a new stake in shares of Cleanspark in the first quarter valued at approximately $169,000. United Services Automobile Association purchased a new stake in shares of Cleanspark in the first quarter valued at approximately $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Cleanspark by 16.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 598,994 shares of the company’s stock valued at $4,025,000 after purchasing an additional 86,229 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Cleanspark in the first quarter valued at approximately $38,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Analyst Ratings Changes

CLSK has been the subject of several recent analyst reports. Zacks Research upgraded Cleanspark from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. Needham & Company LLC dropped their target price on Cleanspark from $25.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, February 6th. B. Riley Financial dropped their target price on Cleanspark from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. Northland Securities initiated coverage on Cleanspark in a research report on Tuesday, January 13th. They set an “outperform” rating and a $22.50 target price for the company. Finally, Maxim Group initiated coverage on Cleanspark in a research report on Thursday, January 8th. They set a “buy” rating and a $22.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.37.

About Cleanspark

CleanSpark, Inc (NASDAQ: CLSK) is a leading energy software and services company specializing in advanced microgrid controls and distributed energy resource (DER) management. The firm develops proprietary software platforms designed to optimize power flows across on-grid and off-grid installations, integrating renewable generation, battery storage, and traditional generation assets. CleanSpark’s technology is used by utilities, commercial and industrial enterprises, and remote facilities seeking to enhance energy resilience, reduce operating costs, and achieve sustainability goals.

In addition to its core software offerings, CleanSpark provides end-to-end engineering, procurement and construction (EPC) services.