Chardan Capital Raises Earnings Estimates for Cleanspark

Cleanspark, Inc. (NASDAQ:CLSK - Free Report) - Analysts at Chardan Capital increased their FY2026 EPS estimates for Cleanspark in a note issued to investors on Wednesday, June 25th. Chardan Capital analyst J. Mcilree now anticipates that the company will post earnings per share of $1.04 for the year, up from their prior estimate of $0.85. 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 posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). The company had revenue of $181.71 million for the quarter, compared to the consensus estimate of $196.43 million. Cleanspark had a negative net margin of 35.43% and a negative return on equity of 4.65%. The company's revenue was up 62.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 earnings per share.

Several other brokerages have also recently issued reports on CLSK. JPMorgan Chase & Co. upped their price objective on Cleanspark from $12.00 to $14.00 and gave the company an "overweight" rating in a research note on Friday, June 13th. BTIG Research reiterated a "buy" rating on shares of Cleanspark in a report on Friday, June 13th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $21.00.

Cleanspark Stock Performance

Shares of CLSK stock opened at $10.67 on Monday. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of -11.11 and a beta of 4.24. Cleanspark has a one year low of $6.45 and a one year high of $20.49. The company's 50-day simple moving average is $9.26 and its 200-day simple moving average is $9.31.

Hedge Funds Weigh In On Cleanspark

Several institutional investors have recently modified their holdings of the company. Voya Investment Management LLC lifted its position in Cleanspark by 103.8% in the 1st quarter. Voya Investment Management LLC now owns 149,672 shares of the company's stock valued at $1,006,000 after purchasing an additional 76,247 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Cleanspark by 115.8% in the first quarter. Rhumbline Advisers now owns 720,903 shares of the company's stock valued at $4,844,000 after purchasing an additional 386,809 shares during the period. Strs Ohio acquired a new stake in shares of Cleanspark in the first quarter valued at approximately $38,000. Belpointe Asset Management LLC raised its holdings in shares of Cleanspark by 87.6% during the first quarter. Belpointe Asset Management LLC now owns 19,364 shares of the company's stock valued at $130,000 after buying an additional 9,042 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Cleanspark by 16.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 598,994 shares of the company's stock worth $4,025,000 after buying an additional 86,229 shares during the period. Institutional investors own 43.12% of the company's stock.

Insider Buying and Selling at Cleanspark

In other Cleanspark news, Director Roger Paul Beynon sold 50,000 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $10.51, for a total value of $525,500.00. Following the sale, the director now directly owns 125,511 shares of the company's stock, valued at $1,319,120.61. This trade 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 currently owned by 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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