Chardan Capital Forecasts Stronger Earnings for Cleanspark

Key Points

• Chardan Capital has increased its FY2026 earnings per share estimate for Cleanspark to $0.88, reflecting a positive outlook compared to the previous estimate of $0.76, alongside a "Buy" rating and a target price of $20.00.
• Cleanspark reported quarterly earnings of $0.78 per share, significantly exceeding the consensus estimate of $0.07, with a net margin of 47.98% and revenue growth of 90.8% year-over-year.
• Numerous analysts have rated Cleanspark with an average "Buy" rating, and the stock has seen target price increases from various firms, suggesting robust market confidence in the company's performance.

Cleanspark, Inc. (NASDAQ:CLSK - Free Report) - Equities researchers at Chardan Capital boosted their FY2026 earnings per share (EPS) estimates for shares of Cleanspark in a note issued to investors on Monday, September 8th. Chardan Capital analyst J. Mcilree now expects that the company will earn $0.88 per share for the year, up from their prior estimate of $0.76. Chardan Capital currently has a "Buy" rating and a $20.00 target price on the stock. The consensus estimate for Cleanspark's current full-year earnings is $0.58 per share.

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

CLSK has been the subject of several other reports. Wall Street Zen upgraded shares of Cleanspark from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. LADENBURG THALM/SH SH started coverage on Cleanspark in a research report on Monday, July 28th. They set a "buy" rating and a $20.25 price target on the stock. Macquarie boosted their price objective on Cleanspark from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. upped their price objective on Cleanspark from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, B. Riley lifted their target price on Cleanspark from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Ten analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $20.47.

Cleanspark Stock Performance

NASDAQ:CLSK opened at $10.03 on Thursday. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 11.80 and a beta of 3.65. Cleanspark has a 1 year low of $6.45 and a 1 year high of $17.97. The business has a fifty day moving average of $10.83 and a 200-day moving average of $9.42.

Institutional Investors Weigh In On Cleanspark

A number of institutional investors have recently bought and sold shares of CLSK. Ameriprise Financial Inc. increased its holdings in shares of Cleanspark by 27.7% in the 4th quarter. Ameriprise Financial Inc. now owns 291,391 shares of the company's stock valued at $2,684,000 after purchasing an additional 63,123 shares during the period. BNP Paribas Financial Markets purchased a new position in Cleanspark during the fourth quarter valued at approximately $323,000. Baird Financial Group Inc. acquired a new position in Cleanspark in the 4th quarter valued at approximately $681,000. Cetera Investment Advisers increased its stake in Cleanspark by 3.8% in the 4th quarter. Cetera Investment Advisers now owns 238,399 shares of the company's stock valued at $2,196,000 after buying an additional 8,643 shares during the period. Finally, Cresset Asset Management LLC lifted its position in Cleanspark by 18.0% in the 4th quarter. Cresset Asset Management LLC now owns 29,572 shares of the company's stock worth $272,000 after buying an additional 4,521 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cleanspark

In other news, COO Taylor Monnig sold 63,713 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $9.12, for a total value of $581,062.56. Following the completion of the sale, the chief operating officer owned 120,337 shares in the company, valued at $1,097,473.44. This represents a 34.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.65% of the stock is currently owned by company insiders.

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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