Investors Buy High Volume of Call Options on CleanSpark (NASDAQ:CLSK)

CleanSpark, Inc. (NASDAQ:CLSK) was the target of unusually large options trading on Monday. Stock investors bought 16,063 call options on the stock. This is an increase of approximately 90% compared to the typical daily volume of 8,456 call options.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CLSK shares. TheStreet downgraded shares of CleanSpark from a “c-” rating to a “d” rating in a research report on Monday, September 11th. Chardan Capital increased their target price on CleanSpark from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, August 11th. HC Wainwright boosted their price target on CleanSpark from $12.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, August 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of CleanSpark in a report on Monday. Finally, Sanford C. Bernstein began 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $9.30.

Institutional Investors Weigh In On CleanSpark

Institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. grew its stake in CleanSpark by 60.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,717 shares of the company’s stock worth $25,000 after buying an additional 2,150 shares in the last quarter. Barclays PLC lifted its holdings in shares of CleanSpark by 533.2% during the 4th quarter. Barclays PLC now owns 12,253 shares of the company’s stock worth $25,000 after acquiring an additional 10,318 shares during the period. State of Wyoming acquired a new stake in shares of CleanSpark during the 2nd quarter worth approximately $27,000. Lazard Asset Management LLC increased its stake in CleanSpark by 3,177.3% in the third quarter. Lazard Asset Management LLC now owns 7,931 shares of the company’s stock valued at $29,000 after acquiring an additional 7,689 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in CleanSpark during the third quarter valued at approximately $30,000. 34.06% of the stock is currently owned by institutional investors.

CleanSpark Stock Performance

CLSK opened at $4.59 on Tuesday. The business has a fifty day simple moving average of $4.04 and a 200 day simple moving average of $4.65. CleanSpark has a 1 year low of $1.74 and a 1 year high of $7.60.

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.