B. Riley Has Negative Outlook for Cleanspark FY2026 Earnings

Cleanspark, Inc. (NASDAQ:CLSK - Free Report) - Research analysts at B. Riley lowered their FY2026 earnings estimates for Cleanspark in a report released on Wednesday, July 9th. B. Riley analyst N. Giles now forecasts that the company will earn $0.40 per share for the year, down from their prior estimate of $0.50. B. Riley has a "Strong-Buy" rating 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 FY2027 earnings at $0.39 EPS.

Other equities analysts also recently issued reports about the stock. Chardan Capital reaffirmed a "buy" rating and set a $20.00 price objective on shares of Cleanspark in a report on Tuesday, July 8th. BTIG Research reaffirmed a "buy" rating on shares of Cleanspark in a report on Friday, June 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cleanspark from $12.00 to $14.00 and gave the company an "overweight" rating in a report on Friday, June 13th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cleanspark presently has a consensus rating of "Buy" and an average target price of $20.38.

Cleanspark Stock Performance

NASDAQ CLSK traded down $0.25 during mid-day trading on Thursday, reaching $12.65. 33,689,208 shares of the stock were exchanged, compared to its average volume of 27,991,296. The business's 50 day moving average is $9.95 and its 200-day moving average is $9.37. Cleanspark has a 1 year low of $6.45 and a 1 year high of $20.49. The company has a market capitalization of $3.55 billion, a P/E ratio of -13.18 and a beta of 4.23.

Cleanspark (NASDAQ:CLSK - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). Cleanspark had a negative return on equity of 4.65% and a negative net margin of 35.43%. The firm had revenue of $181.71 million for the quarter, compared to analysts' expectations of $196.43 million. During the same period last year, the company posted $0.59 earnings per share. The business's quarterly revenue was up 62.5% on a year-over-year basis.

Insider Activity at Cleanspark

In other news, Director Roger Paul Beynon sold 50,000 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $10.51, for a total value of $525,500.00. Following the completion of the sale, the director directly owned 125,511 shares in the company, valued at $1,319,120.61. This represents a 28.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cleanspark

Hedge funds have recently modified their holdings of the business. CX Institutional acquired a new stake in shares of Cleanspark in the first quarter valued at about $26,000. Strs Ohio acquired a new stake in shares of Cleanspark in the first quarter valued at about $38,000. Quarry LP acquired a new stake in shares of Cleanspark in the first quarter valued at about $47,000. Russell Investments Group Ltd. raised its position in shares of Cleanspark by 60.0% in the fourth quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company's stock valued at $54,000 after buying an additional 2,196 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Cleanspark in the first quarter valued at about $68,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

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.