Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Cleanspark Inc shares valued at $8,466,690 were sold by Schultz S. Matthew on Mar 27 ’24. At $23.07 per share, Schultz S. Matthew sold 367,000 shares. The insider’s holdings dropped to 2,298,975 shares worth approximately $34.6 million following the completion of this transaction.
Also, Bradford Zachary sold 443,000 shares, netting a total of over 8,997,330 in proceeds. Following the sale of shares at $20.31 each, the insider now holds 2,795,863 shares.
Before that, Schultz S. Matthew had sold 322,400 shares from its account. In a trade valued at $6,754,280, the Executive Chairman traded Cleanspark Inc shares for $20.95 each. Upon closing the transaction, the insider’s holdings decreased to 322,400 shares, worth approximately $40.62 million.
As published in a research note from JP Morgan on December 08, 2023, Cleanspark Inc [CLSK] has been rated down from an Overweight to a Neutral and the price target has been revised to $8 from $9. Analysts at Bernstein started covering the stock with ‘”an Outperform”‘ outlook in a report released in late October. As of October 11, 2023, JP Morgan has initiated its “an Overweight” rating for CLSK. Earlier on December 09, 2022, Cantor Fitzgerald initiated its rating. Their recommendation was “an Overweight” for CLSK stock.
Analyzing CLSK Stock Performance
During the last five days, there has been a drop of approximately -7.01%. Over the course of the year, Cleanspark Inc shares have jumped approximately 36.45%. Shares of the company reached a 52-week high of $24.72 on 03/27/24 and a 52-week low of $6.41 on 01/19/24. A 50-day SMA is recorded $16.24, while a 200-day SMA reached $8.62. Nevertheless, trading volume fell to 22.06 million shares from 30.35 million shares the previous day.
Support And Resistance Levels for Cleanspark Inc (CLSK)
According to the 24-hour chart, there is a support level at 14.52, which, if violated, would cause prices to drop to 13.99. In the upper region, resistance lies at 15.65. The next price resistance is at 16.25. RSI (Relative Strength Index) is 41.87 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.33, which suggests the price will decrease in the coming days. Percent R is at 95.46%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Cleanspark Inc subject to short interest?
Stocks of Cleanspark Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -1.36 million shares to 23.2 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 24.56 million shares. A decline of -5.86% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 0.51 of the overall float, the days-to-cover ratio (short ratio) decline to 0.51.
Which companies own the most shares of Cleanspark Inc (CLSK)?
On July 26, 2022, H.C. Wainwright assigned a price target of “a Buy” to the stock and resumed coverage with a $6.
