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

Posted by on Aug 30th, 2023

CleanSpark, Inc. (NASDAQ:CLSK – Get Free Report) saw some unusual options trading activity on Tuesday. Investors bought 13,350 call options on the stock. This is an increase of 94% compared to the average volume of 6,872 call options.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CLSK. Chardan Capital raised their price target on shares of CleanSpark from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, August 11th. TheStreet raised shares of CleanSpark from a “d” rating to a “c-” rating in a report on Tuesday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of CleanSpark in a report on Monday. BTIG Research raised their price target on shares of CleanSpark from $8.00 to $10.00 in a report on Tuesday, July 18th. Finally, HC Wainwright raised their price target on shares of CleanSpark from $12.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 10th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CleanSpark currently has a consensus rating of “Buy” and a consensus target price of $11.25.

Check Out Our Latest Stock Report on CLSK

Hedge Funds Weigh In On CleanSpark

Several institutional investors have recently made changes to their positions in CLSK. JPMorgan Chase & Co. lifted its stake in shares of CleanSpark by 14.1% in the 1st quarter. JPMorgan Chase & Co. now owns 21,634 shares of the company’s stock worth $268,000 after purchasing an additional 2,678 shares during the period. Bank of New York Mellon Corp raised its stake in CleanSpark by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 183,219 shares of the company’s stock worth $2,266,000 after acquiring an additional 14,977 shares during the period. MetLife Investment Management LLC raised its stake in CleanSpark by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 22,472 shares of the company’s stock worth $278,000 after acquiring an additional 8,294 shares during the period. Rhumbline Advisers raised its stake in CleanSpark by 15.2% during the 1st quarter. Rhumbline Advisers now owns 48,466 shares of the company’s stock worth $600,000 after acquiring an additional 6,407 shares during the period. Finally, BlackRock Inc. raised its stake in CleanSpark by 10.8% during the 1st quarter. BlackRock Inc. now owns 2,524,449 shares of the company’s stock worth $31,228,000 after acquiring an additional 246,633 shares during the period. Institutional investors own 30.29% of the company’s stock.

CleanSpark Stock Up 16.2 %

Shares of NASDAQ:CLSK opened at $5.25 on Wednesday. The firm’s 50 day moving average price is $5.57 and its 200-day moving average price is $4.21. CleanSpark has a twelve month low of $1.74 and a twelve month high of $7.60. The stock has a market capitalization of $801.38 million, a PE ratio of 7.88 and a beta of 3.82.

CleanSpark Company Profile

(Get Free Report)

CleanSpark, Inc engages in bitcoin mining operations. It develops sustainable infrastructure for Bitcoin, a tool for financial independence and inclusion. The company also provides traditional data center services to its clients, such as providing customers with rack space, power, and equipment, as well as cloud services, including virtual services, virtual storage, and data backup services.

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