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CleanSpark, Inc. (NASDAQ:CLSK) Sees Large Growth in Short Interest


CleanSpark, Inc. (NASDAQ:CLSK) Sees Large Growth in Short Interest

CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 56,560,000 shares, an increase of 13.2% from the November 15th total of 49,980,000 shares. Based on an average daily trading volume, of 31,270,000 shares, the short-interest ratio is currently 1.8 days.

NASDAQ:CLSK traded up $0.46 during mid-day trading on Monday, reaching $12.48. The company's stock had a trading volume of 47,725,268 shares, compared to its average volume of 31,602,844. The firm has a market capitalization of $3.65 billion, a PE ratio of -22.19 and a beta of 4.16. The stock has a fifty day moving average of $12.71 and a 200-day moving average of $13.27. CleanSpark has a 1 year low of $6.41 and a 1 year high of $24.72.

Several brokerages recently commented on CLSK. JPMorgan Chase & Co. raised shares of CleanSpark from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $10.50 to $17.00 in a research report on Tuesday, December 10th. Macquarie lifted their target price on CleanSpark from $20.00 to $24.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. HC Wainwright restated a "buy" rating and set a $27.00 target price on shares of CleanSpark in a research report on Tuesday, December 3rd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $23.00 price objective on shares of CleanSpark in a report on Thursday, October 3rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, CleanSpark currently has an average rating of "Buy" and a consensus target price of $23.17.

Read Our Latest Stock Analysis on CleanSpark

A number of hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI increased its position in shares of CleanSpark by 470.9% during the second quarter. National Bank of Canada FI now owns 2,569 shares of the company's stock worth $41,000 after purchasing an additional 2,119 shares in the last quarter. Hollencrest Capital Management purchased a new position in shares of CleanSpark in the 2nd quarter valued at approximately $48,000. KBC Group NV grew its position in CleanSpark by 42.0% during the 3rd quarter. KBC Group NV now owns 7,403 shares of the company's stock worth $69,000 after purchasing an additional 2,190 shares during the last quarter. Amalgamated Bank increased its stake in CleanSpark by 18.4% during the 2nd quarter. Amalgamated Bank now owns 7,667 shares of the company's stock valued at $122,000 after purchasing an additional 1,194 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of CleanSpark by 21.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company's stock valued at $75,000 after buying an additional 1,345 shares during the last quarter. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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