CleanSpark, Inc. (NASDAQ:CLSK) Short Interest Up 6.1% in December

CleanSpark, Inc. (NASDAQ:CLSK) was the recipient of a large 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 trading volume of 34,680,000 shares, the short-interest ratio is currently 1.7 days.

Analyst Upgrades and Downgrades

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

CleanSpark Stock Up 2.7 %

Shares of CLSK stock traded up $0.25 on Thursday, reaching $9.46. 8,375,129 shares of the stock were exchanged, compared to its average volume of 31,514,195. The stock has a market cap of $2.77 billion, a P/E ratio of -16.31 and a beta of 4.16. The firm has a 50 day moving average of $12.67 and a two-hundred day moving average of $12.76. CleanSpark has a 1-year low of $6.41 and a 1-year high of $24.72.

Institutional Trading of CleanSpark

Institutional investors and hedge funds have recently bought and sold shares of the business. Quest Partners LLC acquired a new position in shares of CleanSpark during the 3rd quarter valued at $374,000. Kovitz Investment Group Partners LLC boosted its position in shares of CleanSpark by 85.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 184,950 shares of the company’s stock worth $1,727,000 after buying an additional 85,388 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of CleanSpark by 10.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock valued at $20,500,000 after buying an additional 208,862 shares in the last quarter. Quantbot Technologies LP acquired a new position in CleanSpark during the 3rd quarter worth approximately $1,960,000. Finally, Clarity Capital Partners LLC grew its position in CleanSpark by 100.8% in the third quarter. Clarity Capital Partners LLC now owns 175,056 shares of the company’s stock valued at $1,635,000 after acquiring an additional 87,891 shares in the last quarter. 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.