Short Interest in CleanSpark, Inc. (NASDAQ:CLSK) Expands By 20.3%

CleanSpark, Inc. (NASDAQ:CLSK) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 13,700,000 shares, a growth of 20.3% from the October 15th total of 11,390,000 shares. Based on an average trading volume of 12,660,000 shares, the short-interest ratio is currently 1.1 days.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CLSK shares. HC Wainwright boosted their price target on CleanSpark from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. JPMorgan Chase & Co. started coverage on CleanSpark in a research report on Wednesday, October 11th. They set an “overweight” rating and a $5.50 price target on the stock. Chardan Capital upped their target price on CleanSpark from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, August 11th. Sanford C. Bernstein started coverage on CleanSpark in a research report on Tuesday, October 31st. They issued an “outperform” rating and a $5.30 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of CleanSpark in a research report on Monday, September 25th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $9.30.

CleanSpark Stock Performance

Shares of CLSK traded down $0.24 during trading on Thursday, reaching $3.91. The company’s stock had a trading volume of 4,566,926 shares, compared to its average volume of 9,167,022. CleanSpark has a twelve month low of $1.74 and a twelve month high of $7.60. The company has a fifty day moving average of $4.06 and a two-hundred day moving average of $4.64.

Institutional Investors Weigh In On CleanSpark

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of CleanSpark by 14.1% in the first quarter. JPMorgan Chase & Co. now owns 21,634 shares of the company’s stock worth $268,000 after purchasing an additional 2,678 shares in the last quarter. Bank of New York Mellon Corp boosted its position 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 boosted its position 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 boosted its position 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. boosted its position 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. 34.06% of the stock is currently owned by institutional investors.

About CleanSpark

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.