B. Riley Comments on Cleanspark's Q1 Earnings (NASDAQ:CLSK)

Key Points

• Analysts at B. Riley have lowered their Q1 2027 earnings estimates for Cleanspark, predicting earnings of $0.12 per share, down from $0.14 previously, while maintaining a "Buy" rating with a $17.00 price target.
• Cleanspark's latest quarterly earnings saw earnings per share of $0.78, significantly exceeding the consensus estimate of $0.07, alongside a revenue increase of 90.8% year-over-year.
• Institutional ownership has increased, with notable stake increases from DZ BANK AG, Algert Global LLC, and Ameriprise Financial Inc. in recent quarters.

Cleanspark, Inc. (NASDAQ:CLSK - Free Report) - Analysts at B. Riley lowered their Q1 2027 earnings estimates for Cleanspark in a research note issued on Friday, August 8th. B. Riley analyst N. Giles now forecasts that the company will post earnings of $0.12 per share for the quarter, down from their previous forecast of $0.14. B. Riley has a "Buy" rating and a $17.00 price objective on the stock. The consensus estimate for Cleanspark's current full-year earnings is $0.58 per share. B. Riley also issued estimates for Cleanspark's Q3 2027 earnings at $0.10 EPS.

CLSK has been the topic of several other reports. Chardan Capital reissued a "buy" rating and set a $20.00 price target on shares of Cleanspark in a research note on Friday. Wall Street Zen raised shares of Cleanspark from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. lifted their target price on shares of Cleanspark from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Cantor Fitzgerald lifted their target price on shares of Cleanspark from $25.00 to $26.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Macquarie lifted their target price on shares of Cleanspark from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Friday. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, Cleanspark currently has an average rating of "Moderate Buy" and an average price target of $20.47.

Cleanspark Stock Performance

CLSK stock opened at $10.07 on Monday. The company has a market capitalization of $2.83 billion, a PE ratio of 11.85 and a beta of 3.72. Cleanspark has a one year low of $6.45 and a one year high of $17.97. The company's 50 day moving average price is $10.95 and its two-hundred day moving average price is $9.54.

Cleanspark (NASDAQ:CLSK - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.07 by $0.71. The firm had revenue of $198.64 million for the quarter, compared to the consensus estimate of $191.33 million. Cleanspark had a net margin of 47.98% and a return on equity of 8.89%. The business's revenue was up 90.8% compared to the same quarter last year. During the same period last year, the firm posted ($1.03) earnings per share.

Insider Transactions at Cleanspark

In other Cleanspark news, Director Roger Paul Beynon sold 50,000 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $10.51, for a total transaction of $525,500.00. Following the transaction, the director directly owned 125,511 shares of the company's stock, valued at approximately $1,319,120.61. The trade was a 28.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.65% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Cleanspark by 68.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 281,783 shares of the company's stock valued at $2,595,000 after purchasing an additional 114,674 shares during the period. Algert Global LLC boosted its holdings in shares of Cleanspark by 284.1% during the 4th quarter. Algert Global LLC now owns 198,862 shares of the company's stock valued at $1,832,000 after buying an additional 147,086 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Cleanspark by 27.7% during the 4th quarter. Ameriprise Financial Inc. now owns 291,391 shares of the company's stock valued at $2,684,000 after buying an additional 63,123 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Cleanspark by 128.9% during the 1st quarter. Bank of New York Mellon Corp now owns 1,579,277 shares of the company's stock valued at $10,613,000 after buying an additional 889,317 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Cleanspark by 24.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 889,540 shares of the company's stock valued at $5,978,000 after buying an additional 175,291 shares in the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

Cleanspark Company Profile

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.

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