Cleanspark (NASDAQ:CLSK) Receives Buy Rating from BTIG Research

Key Points

• BTIG Research reiterated a buy rating on CleanSpark and set a $26 price target, implying about 93% upside from the current share price.
• Despite that bullish call, CleanSpark reported a worse-than-expected quarterly loss and missed revenue estimates, with revenue down 24.9% year over year, which has pressured the stock.
• Analyst sentiment is mixed overall: the stock currently carries a Moderate Buy average rating, but recent coverage includes both higher price targets and a downgrade to strong sell from Zacks Research.

Cleanspark (NASDAQ:CLSK - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at BTIG Research in a research note issued on Tuesday,Benzinga reports. They presently have a $26.00 price target on the stock. BTIG Research's price objective points to a potential upside of 93.02% from the stock's current price.

CLSK has been the subject of several other research reports. B. Riley Financial cut their price target on Cleanspark from $22.00 to $19.00 and set a "buy" rating for the company in a research note on Wednesday, February 11th. Maxim Group increased their price target on Cleanspark from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday. Northland Securities assumed coverage on Cleanspark in a research note on Tuesday, January 13th. They set an "outperform" rating and a $22.50 price target for the company. Zacks Research downgraded Cleanspark from a "hold" rating to a "strong sell" rating in a research note on Monday. Finally, Cantor Fitzgerald cut their price target on Cleanspark from $17.00 to $14.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $20.29.

Cleanspark Stock Down 5.8%

CLSK stock opened at $13.47 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 10.54 and a current ratio of 10.54. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of -6.41 and a beta of 3.71. Cleanspark has a fifty-two week low of $8.00 and a fifty-two week high of $23.61. The stock has a fifty day moving average of $10.71 and a 200-day moving average of $11.93.

Cleanspark (NASDAQ:CLSK - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($1.27). The firm had revenue of $136.41 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.49) EPS. As a group, equities research analysts predict that Cleanspark will post -0.7 earnings per share for the current year.

Institutional Trading of Cleanspark

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Cleanspark by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,051,850 shares of the company's stock worth $377,752,000 after purchasing an additional 769,148 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings 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 in the last quarter. Marex Group plc raised its holdings in shares of Cleanspark by 23,812.2% in the 4th quarter. Marex Group plc now owns 5,400,561 shares of the company's stock valued at $54,654,000 after acquiring an additional 5,377,976 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Cleanspark by 22.1% in the 3rd quarter. Invesco Ltd. now owns 4,482,527 shares of the company's stock valued at $64,997,000 after acquiring an additional 810,203 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Cleanspark by 13.3% in the 3rd quarter. Tidal Investments LLC now owns 4,366,437 shares of the company's stock valued at $63,313,000 after acquiring an additional 514,062 shares in the last quarter. Hedge funds and other institutional investors own 43.12% of the company's stock.

Key Cleanspark News

Here are the key news stories impacting Cleanspark this week:

• Positive Sentiment: Maxim Group raised its price target on Cleanspark to $22 from $18 and kept a buy rating, suggesting meaningful upside from current levels. Article title
• Positive Sentiment: Keefe, Bruyette & Woods maintained an outperform view with a $14 target after the earnings miss, indicating some analysts still see value despite near-term weakness.
• Positive Sentiment: There was notable call-option buying in CLSK, which can signal that some traders are positioning for a rebound or further volatility to the upside.
• Positive Sentiment: Management emphasized a pivot toward AI/data-center infrastructure, highlighting expanded contracted capacity and a 14–18 month delivery timeline for AI data centers, which could support a longer-term growth story.
• Neutral Sentiment: CleanSpark’s earnings call and related coverage focused on the company’s transition beyond pure Bitcoin mining, with investors watching whether the infrastructure strategy can create new revenue streams.
• Negative Sentiment: CleanSpark reported a much larger-than-expected Q2 loss and missed revenue estimates, with revenue down sharply year over year. The weak operating results are a key reason the stock has been under pressure.
• Negative Sentiment: Management also flagged more than $200 million in losses tied to Bitcoin holdings, adding to concerns about earnings volatility and crypto-price exposure.
• Negative Sentiment: Zacks Research downgraded Cleanspark from hold to strong sell, reinforcing bearish sentiment after the disappointing quarter.

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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