Investors Purchase Large Volume of Call Options on Cleanspark (NASDAQ:CLSK)

Cleanspark, Inc. (NASDAQ:CLSK) saw some unusual options trading on Friday. Stock investors purchased 90,189 call options on the company. This is an increase of 42% compared to the typical volume of 63,343 call options.

Cleanspark Trading Up 7.7%

Shares of NASDAQ CLSK traded up $1.03 during mid-day trading on Friday, hitting $14.38. The company’s stock had a trading volume of 14,823,668 shares, compared to its average volume of 22,779,098. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -3.79 and a beta of 3.84. The company has a debt-to-equity ratio of 2.34, a current ratio of 5.91 and a quick ratio of 2.11. Cleanspark has a one year low of $8.00 and a one year high of $23.61. The company’s fifty day simple moving average is $12.94 and its 200-day simple moving average is $12.97.

Cleanspark (NASDAQ:CLSK) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.42). The business had revenue of $138.01 million during the quarter, compared to analyst estimates of $142.37 million. Cleanspark had a negative net margin of 146.90% and a negative return on equity of 18.63%. The company’s quarterly revenue was down 30.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 earnings per share. On average, sell-side analysts anticipate that Cleanspark will post -1.4 earnings per share for the current fiscal year.

Key Headlines Impacting Cleanspark

Here are the key news stories impacting Cleanspark this week:

• Positive Sentiment: Meta identified as Georgia data-center tenant: CleanSpark disclosed that Meta is the tenant for its Sandersville, Georgia, AI data-center campus. The announcement provides potential customer validation and suggests a path toward diversifying beyond Bitcoin mining into higher-growth data-center services. CleanSpark Reveals Meta as Georgia Data Center Tenant
• Positive Sentiment: $2.227 billion financing plan: CleanSpark’s wholly owned subsidiary, CSDC Finance I, plans to offer $2.227 billion of senior secured notes due in 2031 through a private placement. Proceeds are expected to fund the buildout of the Georgia data-center campus, accelerating the company’s AI infrastructure strategy. The offering remains subject to market conditions and other factors. CleanSpark Announces Proposed Offering of Senior Secured Notes
• Positive Sentiment: Favorable cryptocurrency-miner sentiment: Shares of Bitcoin-mining companies, including CleanSpark, were outperforming Bitcoin during the reported session. This broader sector momentum likely added support to CLSK alongside the data-center announcements. CleanSpark Climbs as Bitcoin Miners Outrun Bitcoin
• Negative Sentiment: Significant financing and execution risk: The planned notes would add substantial secured debt, increasing leverage and future interest obligations. Investors will also assess the final pricing and terms, construction costs, timing, and whether the Meta-related campus generates the expected returns.

Insider Activity at Cleanspark

In other news, COO Taylor Monnig sold 25,249 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $13.34, for a total value of $336,821.66. Following the sale, the chief operating officer owned 236,114 shares of the company’s stock, valued at approximately $3,149,760.76. This represents a 9.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 29,816 shares of company stock valued at $394,352. 2.08% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cleanspark

Several institutional investors have recently modified their holdings of CLSK. Dimensional Fund Advisors LP boosted its position in Cleanspark by 81.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 14,102,777 shares of the company’s stock worth $120,007,000 after acquiring an additional 6,323,715 shares during the last quarter. Situational Awareness LP boosted its holdings in Cleanspark by 648.4% during the first quarter. Situational Awareness LP now owns 12,276,139 shares of the company’s stock worth $104,470,000 after purchasing an additional 10,635,739 shares during the last quarter. Bank of America Corp DE lifted its position in Cleanspark by 49.2% during the 1st quarter. Bank of America Corp DE now owns 2,576,687 shares of the company’s stock worth $21,928,000 after buying an additional 849,865 shares in the last quarter. Intrinsic Edge Capital Management LLC lifted its position in Cleanspark by 617.3% during the 1st quarter. Intrinsic Edge Capital Management LLC now owns 894,735 shares of the company’s stock worth $7,614,000 after buying an additional 770,000 shares in the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of Cleanspark by 214.8% during the 2nd quarter. Headlands Technologies LLC now owns 512,476 shares of the company’s stock worth $7,457,000 after buying an additional 349,658 shares during the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on CLSK. Weiss Ratings raised shares of Cleanspark from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Cantor Fitzgerald restated an “overweight” rating and set a $26.00 price target on shares of Cleanspark in a research report on Friday, August 7th. Needham & Company LLC raised their price target on Cleanspark from $18.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. B. Riley Financial boosted their price objective on Cleanspark from $19.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Finally, Zacks Research upgraded Cleanspark from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Cleanspark presently has a consensus rating of “Moderate Buy” and an average target price of $23.88.

Cleanspark Company Profile

CleanSpark, Inc (NASDAQ: CLSK) is a bitcoin mining and energy technology company headquartered in Henderson, Nevada. The company owns and operates data centers that use specialized computing equipment to validate transactions on the Bitcoin network and earn bitcoin rewards.

CleanSpark focuses on developing and expanding mining infrastructure, with operations in the United States, including facilities in Georgia, Mississippi, Tennessee and Wyoming. Its activities include acquiring and deploying mining equipment, managing data-center operations and securing reliable, cost-effective power for its facilities.

The company historically developed software and energy-management solutions before shifting its primary focus toward bitcoin mining.