Cleanspark Inc’s filing revealed that its Executive Chairman Schultz S. Matthew unloaded Company’s shares for reported $8.47 million on Mar 27 ’24. In the deal valued at $23.07 per share,367,000 shares were sold. As a result of this transaction, Schultz S. Matthew now holds 2,298,975 shares worth roughly $35.86 million.
Then, Bradford Zachary sold 443,000 shares, generating $8,997,330 in total proceeds. Upon selling the shares at $20.31, the CEO and President now owns 2,795,863 shares.
Before that, Schultz S. Matthew sold 322,400 shares. Cleanspark Inc shares valued at $6,754,280 were divested by the Executive Chairman at a price of $20.95 per share. As a result of the transaction, Schultz S. Matthew now holds 2,698,768 shares, worth roughly $42.1 million.
JP Morgan downgraded its Cleanspark Inc [CLSK] rating to a Neutral from a an Overweight in a research note published on December 08, 2023; the price target was decreased to $8 from $9. A number of analysts have revised their coverage, including Bernstein’s analysts, who began to cover the stock in late October with a ‘”an Outperform”‘ rating. JP Morgan began covering CLSK with “an Overweight” recommendation on October 11, 2023. Cantor Fitzgerald started covering the stock on December 09, 2022. It rated CLSK as “an Overweight”.
Price Performance Review of CLSK
On Friday, Cleanspark Inc [NASDAQ:CLSK] saw its stock fall -1.83% to $15.60. Over the last five days, the stock has lost -26.45%. Cleanspark Inc shares have risen nearly 41.43% since the year began. Nevertheless, the stocks have risen 488.68% over the past one year. While a 52-week high of $24.72 was reached on 03/27/24, a 52-week low of $2.38 was recorded on 01/19/24. SMA at 50 days reached $15.80, while 200 days put it at $8.46. A total of 21.47 million shares were traded, compared to the trading of 22.86 million shares in the previous session.
Levels Of Support And Resistance For CLSK Stock
The 24-hour chart illustrates a support level at 15.28, which if violated will result in even more drops to 14.96. On the upside, there is a resistance level at 16.22. A further resistance level may holdings at 16.84. The Relative Strength Index (RSI) on the 14-day chart is 43.39, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.29, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.41%. Stochastics %K at 8.82% indicates the stock is a buying.
How much short interest is there in Cleanspark Inc?
A steep rise in short interest was recorded in Cleanspark Inc stocks on Mar 15, 2024, dropping by -1.36 million shares to a total of 23.2 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 24.56 million shares. There was a decline of -5.86%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 12.08% of the overall stock float, the days-to-cover ratio (short ratio) fell to 0.51.
