What the Options Market Tells Us About Cleanspark
Portfolio Pulse from Benzinga Insights
Recent options market activity indicates a bearish stance on Cleanspark (NASDAQ:CLSK) by significant investors, with a split sentiment of 25% bullish and 74% bearish. Benzinga's options scanner revealed 27 unusual trades, highlighting a potential price target range of $5.0 to $22.5 for CLSK in the coming three months. Notable options activity includes both calls and puts with varying sentiments and expiration dates. Cleanspark, a bitcoin mining company, is currently trading down by -10.15% at $14.38, with an RSI suggesting potential overbought conditions. An analyst from HC Wainwright & Co. has recently downgraded the stock to Buy with a price target of $14.
February 13, 2024 | 4:46 pm
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NEGATIVE IMPACT
Significant bearish options activity detected for Cleanspark, with a notable downgrade by HC Wainwright & Co. to Buy and a price target set at $14. Current trading down by -10.15% at $14.38.
The bearish sentiment from significant investors, combined with the recent downgrade by an analyst, suggests a negative short-term impact on CLSK's stock price. The current trading position and the RSI indication of potential overbought conditions further support this outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100