Chardan Capital Increases Earnings Estimates for Cleanspark

Cleanspark, Inc. (NASDAQ:CLSK - Free Report) - Stock analysts at Chardan Capital upped their FY2026 earnings estimates for shares of Cleanspark in a research note issued to investors on Tuesday, July 8th. Chardan Capital analyst J. Mcilree now expects that the company will post earnings per share of $1.09 for the year, up from their prior estimate of $1.04. Chardan Capital has a "Buy" rating and a $20.00 price objective 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, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). Cleanspark had a negative return on equity of 4.65% and a negative net margin of 35.43%. The firm had revenue of $181.71 million during the quarter, compared to analysts' expectations of $196.43 million. During the same period in the previous year, the firm earned $0.59 EPS. The firm's quarterly revenue was up 62.5% on a year-over-year basis.

A number of other research analysts also recently issued reports on CLSK. JPMorgan Chase & Co. lifted their price objective on shares of Cleanspark from $12.00 to $14.00 and gave the stock an "overweight" rating in a research report on Friday, June 13th. B. Riley initiated coverage on shares of Cleanspark in a research report on Tuesday, July 1st. They issued a "buy" rating and a $16.00 price objective on the stock. Finally, BTIG Research reaffirmed a "buy" rating on shares of Cleanspark in a research report on Friday, June 13th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cleanspark presently has an average rating of "Buy" and an average price target of $20.38.

Cleanspark Stock Down 1.9%

Shares of Cleanspark stock traded down $0.25 on Thursday, reaching $12.65. The stock had a trading volume of 33,689,208 shares, compared to its average volume of 27,991,296. The company has a 50 day moving average price of $9.95 and a 200 day moving average price of $9.37. Cleanspark has a 1 year low of $6.45 and a 1 year high of $20.49. The stock has a market capitalization of $3.55 billion, a P/E ratio of -13.18 and a beta of 4.23.

Institutional Trading of Cleanspark

Several institutional investors and hedge funds have recently bought and sold shares of CLSK. CX Institutional acquired a new stake in Cleanspark during the 1st quarter valued at approximately $26,000. Strs Ohio acquired a new stake in Cleanspark during the 1st quarter valued at approximately $38,000. Quarry LP acquired a new stake in Cleanspark during the 1st quarter valued at approximately $47,000. Russell Investments Group Ltd. lifted its stake in Cleanspark by 60.0% during the 4th quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company's stock valued at $54,000 after acquiring an additional 2,196 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in Cleanspark during the 1st quarter valued at approximately $68,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 value of $525,500.00. Following the completion of the sale, the director directly owned 125,511 shares in the company, valued at $1,319,120.61. This trade represents a 28.49% decrease in their position. 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 owned by company insiders.

About Cleanspark

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.