Traders Buy Large Volume of Call Options on Cleanspark (NASDAQ:CLSK)

Key Points

• Traders bought 102,104 call options on Cleanspark on Tuesday, roughly a 50% jump above the average daily call volume, indicating unusually strong bullish options activity.
• Analyst views are mixed with several firms cutting price targets (as low as $14–$19) while others keep buy ratings, resulting in a MarketBeat consensus of Moderate Buy and a consensus price target of $20.37.
• Shares traded up to $11.27 with a market cap of $2.88B, a negative P/E and high volatility (beta 3.53); the stock has swung between a 52-week low of $7.03 and high of $23.61.

Cleanspark, Inc. (NASDAQ:CLSK - Get Free Report) saw some unusual options trading on Tuesday. Investors bought 102,104 call options on the company. This represents an increase of approximately 50% compared to the average daily volume of 68,163 call options.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CLSK shares. B. Riley Financial reduced their price target on Cleanspark from $22.00 to $19.00 and set a "buy" rating for the company in a report on Wednesday, February 11th. Weiss Ratings downgraded Cleanspark from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, February 9th. Maxim Group began coverage on Cleanspark in a report on Thursday, January 8th. They set a "buy" rating and a $22.00 price target for the company. Cantor Fitzgerald dropped their price target on shares of Cleanspark from $17.00 to $14.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Cleanspark from $18.00 to $14.00 and set an "outperform" rating on the stock in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cleanspark has an average rating of "Moderate Buy" and a consensus price target of $20.37.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. raised its position 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 valued at $25,000 after buying an additional 937 shares in the last quarter. Quarry LP purchased a new stake in shares of Cleanspark during the 3rd quarter valued at about $26,000. Salomon & Ludwin LLC purchased a new stake in shares of Cleanspark during the 3rd quarter valued at about $32,000. Morse Asset Management Inc purchased a new stake in Cleanspark during the 3rd quarter valued at $32,000. Finally, Danske Bank A S purchased a new stake in Cleanspark during the 4th quarter valued at $25,000. 43.12% of the stock is owned by hedge funds and other institutional investors.

Cleanspark Stock Performance

NASDAQ:CLSK traded up $0.51 on Tuesday, hitting $11.27. The stock had a trading volume of 23,311,022 shares, compared to its average volume of 24,961,271. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -10.53 and a beta of 3.53. The company has a quick ratio of 10.54, a current ratio of 10.54 and a debt-to-equity ratio of 1.29. The business's 50-day simple moving average is $9.70 and its two-hundred day simple moving average is $12.66. Cleanspark has a 52-week low of $7.03 and a 52-week high of $23.61.

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.

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