CleanSpark, Inc. (NASDAQ:CLSK) Short Interest Down 6.1% in March

CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) saw a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 23,200,000 shares, a decrease of 6.1% from the February 29th total of 24,710,000 shares. Based on an average daily volume of 35,190,000 shares, the short-interest ratio is presently 0.7 days.

Insider Buying and Selling

In other CleanSpark news, Director Roger Paul Beynon sold 10,976 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total transaction of $195,921.60. Following the transaction, the director now directly owns 141,381 shares in the company, valued at $2,523,650.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Gary Anthony Vecchiarelli sold 26,244 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $20.93, for a total transaction of $549,286.92. Following the completion of the sale, the chief financial officer now owns 554,391 shares of the company's stock, valued at $11,603,403.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Roger Paul Beynon sold 10,976 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total value of $195,921.60. Following the sale, the director now directly owns 141,381 shares of the company's stock, valued at approximately $2,523,650.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,169,620 shares of company stock worth $24,963,509. Insiders own 3.46% of the company's stock.

Institutional Investors Weigh In On CleanSpark

Large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. grew its stake in shares of CleanSpark by 60.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,717 shares of the company's stock valued at $25,000 after purchasing an additional 2,150 shares during the period. State of Wyoming bought a new stake in shares of CleanSpark during the 2nd quarter valued at about $27,000. Advisory Services Network LLC bought a new stake in shares of CleanSpark during the 4th quarter valued at about $83,000. DekaBank Deutsche Girozentrale bought a new stake in shares of CleanSpark during the 3rd quarter valued at about $30,000. Finally, Lazard Asset Management LLC grew its stake in shares of CleanSpark by 3,177.3% during the 3rd quarter. Lazard Asset Management LLC now owns 7,931 shares of the company's stock valued at $29,000 after purchasing an additional 7,689 shares during the period. 43.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on CLSK shares. TheStreet raised CleanSpark from a "d" rating to a "c-" rating in a research note on Friday, February 9th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $8.00 price objective (down previously from $9.00) on shares of CleanSpark in a research report on Friday, December 8th. BTIG Research raised their price objective on CleanSpark from $12.00 to $22.00 and gave the company a "buy" rating in a research report on Tuesday, March 19th. Cantor Fitzgerald raised their price objective on CleanSpark from $10.00 to $20.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Chardan Capital raised their price objective on CleanSpark from $13.00 to $26.00 and gave the company a "buy" rating in a research report on Monday, March 4th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $18.05.

CleanSpark Price Performance

NASDAQ CLSK traded down $2.63 during trading hours on Monday, hitting $18.58. The company's stock had a trading volume of 35,475,715 shares, compared to its average volume of 36,024,855. CleanSpark has a 12 month low of $2.38 and a 12 month high of $24.72. The company's 50 day simple moving average is $15.58 and its two-hundred day simple moving average is $9.71.

CleanSpark (NASDAQ:CLSK - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.26. CleanSpark had a negative return on equity of 16.25% and a negative net margin of 38.09%. The company had revenue of $73.79 million during the quarter, compared to the consensus estimate of $66.06 million. On average, sell-side analysts forecast that CleanSpark will post -0.3 EPS for the current year.

CleanSpark Company Profile

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.