What is B. Riley's Forecast for Cleanspark FY2026 Earnings?

Cleanspark, Inc. (NASDAQ:CLSK - Free Report) - Investment analysts at B. Riley reduced their FY2026 EPS estimates for Cleanspark in a research report issued to clients and investors 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 previous forecast of $0.50. B. Riley currently 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 research analysts have also recently issued research reports about the company. Chardan Capital restated a "buy" rating and set a $20.00 price objective on shares of Cleanspark in a report on Tuesday. JPMorgan Chase & Co. increased their target price on Cleanspark from $12.00 to $14.00 and gave the stock an "overweight" rating in a research report on Friday, June 13th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Cleanspark in a research note on Friday, June 13th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cleanspark currently has a consensus rating of "Buy" and an average target price of $20.38.

Cleanspark Price Performance

CLSK stock traded down $0.40 during midday trading on Thursday, hitting $12.50. The stock had a trading volume of 28,508,659 shares, compared to its average volume of 25,959,492. The firm has a market cap of $3.51 billion, a PE ratio of -13.02 and a beta of 4.23. Cleanspark has a 12-month low of $6.45 and a 12-month high of $20.49. The company's 50-day moving average price is $9.87 and its 200 day moving average price is $9.37.

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

Insider Buying and Selling

In other Cleanspark news, Director Roger Paul Beynon sold 50,000 shares of Cleanspark stock in a transaction that occurred 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 $1,319,120.61. The trade was a 28.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cleanspark

A number of hedge funds have recently made changes to their positions in the business. Prudential Financial Inc. lifted its position in Cleanspark by 9.1% during the 4th quarter. Prudential Financial Inc. now owns 16,835 shares of the company's stock worth $155,000 after acquiring an additional 1,405 shares in the last quarter. Corebridge Financial Inc. raised its stake in shares of Cleanspark by 1.2% during the fourth quarter. Corebridge Financial Inc. now owns 123,723 shares of the company's stock valued at $1,139,000 after purchasing an additional 1,507 shares during the period. Wellington Management Group LLP grew its holdings in Cleanspark by 15.1% during the 1st quarter. Wellington Management Group LLP now owns 13,990 shares of the company's stock valued at $94,000 after purchasing an additional 1,834 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Cleanspark by 13.5% during the 4th quarter. Mackenzie Financial Corp now owns 15,916 shares of the company's stock valued at $147,000 after purchasing an additional 1,898 shares in the last quarter. Finally, Harvest Portfolios Group Inc. grew its holdings in Cleanspark by 2.4% during the 1st quarter. Harvest Portfolios Group Inc. now owns 84,522 shares of the company's stock valued at $568,000 after purchasing an additional 2,014 shares in the last quarter. Hedge funds and other institutional investors own 43.12% of the company's stock.

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.