Cleanspark (NASDAQ:CLSK) Lowered to Strong Sell Rating by Zacks Research

Key Points

• Zacks Research downgraded CleanSpark (NASDAQ: CLSK) from hold to strong sell, despite the broader analyst community still holding a Moderate Buy consensus with a $20.29 average price target.
• The company’s latest earnings disappointed: CleanSpark reported a wider-than-expected quarterly loss of $1.52 per share and revenue of $136.41 million, both below estimates, while revenue fell 24.9% year over year.
• Shares were under pressure, falling 5.8% to $13.47, even as some analysts remained constructive and recent news highlighted expansion into AI and high-performance computing as a potential growth driver.

Cleanspark (NASDAQ:CLSK - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages have also commented on CLSK. Northland Securities started coverage on shares of Cleanspark in a research report on Tuesday, January 13th. They set an "outperform" rating and a $22.50 price objective for the company. Keefe, Bruyette & Woods decreased their price objective on shares of Cleanspark from $18.00 to $14.00 and set an "outperform" rating on the stock in a research note on Monday, February 9th. Needham & Company LLC upped their price objective on shares of Cleanspark from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Cantor Fitzgerald decreased their price target on shares of Cleanspark from $17.00 to $14.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Finally, Chardan Capital reissued a "buy" rating and set a $16.00 price target on shares of Cleanspark in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Cleanspark currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.29.

Cleanspark Stock Down 5.8%

Cleanspark stock opened at $13.47 on Monday. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of -6.41 and a beta of 3.71. The company has a debt-to-equity ratio of 1.29, a current ratio of 10.54 and a quick ratio of 10.54. Cleanspark has a fifty-two week low of $8.00 and a fifty-two week high of $23.61. The firm has a fifty day moving average price of $10.71 and a two-hundred day moving average price of $11.93.

Cleanspark (NASDAQ:CLSK - Get Free Report) last released its earnings results on Monday, May 11th. The company reported ($1.52) earnings per share for the quarter, missing analysts' consensus estimates of ($0.25) by ($1.27). The firm had revenue of $136.41 million for the quarter, compared to analyst estimates of $145.36 million. Cleanspark had a positive return on equity of 6.22% and a negative net margin of 67.66%.The firm's revenue was down 24.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.49) EPS. As a group, analysts forecast that Cleanspark will post -0.7 earnings per share for the current year.

Institutional Investors Weigh In On Cleanspark

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Himension Capital Singapore PTE. LTD. bought a new position in Cleanspark in the first quarter valued at $1,018,000. Dimensional Fund Advisors LP grew its position in shares of Cleanspark by 81.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 14,102,777 shares of the company's stock valued at $120,007,000 after acquiring an additional 6,323,715 shares during the period. KBC Group NV grew its position in shares of Cleanspark by 10.7% in the 1st quarter. KBC Group NV now owns 8,574 shares of the company's stock valued at $73,000 after acquiring an additional 828 shares during the period. Diversify Wealth Management LLC bought a new stake in shares of Cleanspark during the 1st quarter worth about $641,000. Finally, Fifth Third Bancorp boosted its holdings in shares of Cleanspark by 2,122.3% during the 1st quarter. Fifth Third Bancorp now owns 63,581 shares of the company's stock worth $541,000 after buying an additional 60,720 shares during the period. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Cleanspark News Summary

Here are the key news stories impacting Cleanspark this week:

• Positive Sentiment: Maxim Group raised its price target on CleanSpark from $18 to $22 and reiterated a buy rating, implying meaningful upside from current levels. Benzinga
• Positive Sentiment: Analysts and management continue to frame CleanSpark’s expansion into AI and high-performance computing data centers as a potential new growth driver beyond Bitcoin mining. Yahoo Finance
• Positive Sentiment: Unusually heavy call-option buying suggests some traders are betting on a rebound or further upside in CLSK shares. Benzinga
• Neutral Sentiment: CleanSpark reported second-quarter fiscal 2026 results showing continued infrastructure expansion, including more megawatts under contract and higher Bitcoin holdings, which supports the long-term story but did not offset near-term operating pressure. PR Newswire
• Negative Sentiment: The earnings report disappointed investors: CleanSpark posted a wider-than-expected loss and revenue came in below estimates, reinforcing concerns about profitability and declining core mining economics. Zacks
• Negative Sentiment: Reports that the company flagged more than $200 million in losses tied to Bitcoin holdings added pressure, highlighting the risks of its crypto exposure. MSN

Cleanspark Company Profile

CleanSpark, Inc NASDAQ: CLSK is a leading energy software and services company specializing in advanced microgrid controls and distributed energy resource (DER) management. The firm develops proprietary software platforms designed to optimize power flows across on-grid and off-grid installations, integrating renewable generation, battery storage, and traditional generation assets. CleanSpark's technology is used by utilities, commercial and industrial enterprises, and remote facilities seeking to enhance energy resilience, reduce operating costs, and achieve sustainability goals.

In addition to its core software offerings, CleanSpark provides end-to-end engineering, procurement and construction (EPC) services.

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