Q3 EPS Estimates for Cleanspark Cut by Northland Securities

Key Points

• Northland Securities cut its Q3 2026 EPS estimate for CleanSpark to ($0.26) from ($0.14), reflecting a more pessimistic near-term outlook. The firm also modeled continued losses across several future quarters.
• CleanSpark’s latest earnings missed expectations by a wide margin, reporting ($1.52) EPS versus the expected ($0.25), while revenue came in at $136.41 million below estimates. Revenue also fell 24.9% year over year.
• Analyst sentiment remains mixed but generally constructive, with several firms maintaining or raising buy ratings and price targets, even as Zacks downgraded the stock to strong sell. MarketBeat data shows an average rating of Moderate Buy and an average target price of $20.44.

Cleanspark, Inc. (NASDAQ:CLSK - Free Report) - Investment analysts at Northland Securities lowered their Q3 2026 earnings per share estimates for shares of Cleanspark in a research report issued on Monday, May 11th. Northland Securities analyst M. Grondahl now expects that the company will post earnings per share of ($0.26) for the quarter, down from their previous estimate of ($0.14). The consensus estimate for Cleanspark's current full-year earnings is ($0.70) per share. Northland Securities also issued estimates for Cleanspark's Q4 2026 earnings at ($0.24) EPS, FY2026 earnings at ($2.13) EPS, Q1 2027 earnings at ($0.25) EPS, Q2 2027 earnings at ($0.19) EPS, Q3 2027 earnings at ($0.09) EPS, Q4 2027 earnings at ($0.10) EPS and FY2027 earnings at ($0.62) EPS.

Cleanspark (NASDAQ:CLSK - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($1.27). The company had revenue of $136.41 million during the quarter, compared to the consensus estimate of $145.36 million. Cleanspark had a positive return on equity of 7.07% and a negative net margin of 67.66%.The company's revenue for the quarter was down 24.9% on a year-over-year basis. During the same period last year, the business posted ($0.49) EPS.

Several other analysts also recently issued reports on CLSK. Weiss Ratings reissued a "sell (d)" rating on shares of Cleanspark in a report on Friday, May 8th. BTIG Research reissued a "buy" rating and issued a $26.00 price target on shares of Cleanspark in a report on Tuesday. Needham & Company LLC raised their price target on Cleanspark from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Zacks Research downgraded Cleanspark from a "hold" rating to a "strong sell" rating in a report on Monday. Finally, Maxim Group raised their price target on Cleanspark from $18.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Cleanspark currently has an average rating of "Moderate Buy" and an average target price of $20.44.

Cleanspark Trading Down 1.3%

Shares of NASDAQ CLSK opened at $13.30 on Thursday. The company has a market cap of $3.41 billion, a price-to-earnings ratio of -6.33 and a beta of 3.71. Cleanspark has a 12-month low of $8.00 and a 12-month high of $23.61. The company has a current ratio of 8.26, a quick ratio of 10.54 and a debt-to-equity ratio of 1.81. The stock's 50 day simple moving average is $10.77 and its 200 day simple moving average is $11.90.

Institutional Trading of Cleanspark

A number of hedge funds and other institutional investors have recently modified their holdings of CLSK. Dimensional Fund Advisors LP raised its stake 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 worth $120,007,000 after buying an additional 6,323,715 shares in the last quarter. Marex Group plc raised its stake 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 worth $54,654,000 after buying an additional 5,377,976 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Cleanspark in the 3rd quarter worth $56,056,000. Renaissance Technologies LLC bought a new stake in shares of Cleanspark in the 4th quarter worth $26,125,000. Finally, Situational Awareness LP acquired a new position in shares of Cleanspark in the 4th quarter worth $16,601,000. Institutional investors own 43.12% of the company's stock.

Key Stories Impacting Cleanspark

Here are the key news stories impacting Cleanspark this week:

• Positive Sentiment: Multiple analysts turned more optimistic on CleanSpark, including Maxim Group raising its price target to $22, Keefe, Bruyette & Woods lifting its target to $16 with an outperform rating, and BTIG reaffirming a buy rating with a $26 target. These higher targets suggest Wall Street still sees meaningful upside despite recent volatility. Analyst target raises
• Positive Sentiment: Investors bought a large volume of call options on CLSK, signaling speculative confidence that the stock could continue rising. Call options volume article
• Positive Sentiment: CleanSpark’s April operating update showed it mined 640 bitcoin, or about 21.33 bitcoin per day, reinforcing that production remains strong and supporting the bullish “undervalued miner” narrative. Operational update article
• Positive Sentiment: Coverage around CleanSpark’s earnings-call commentary emphasized a potential pivot beyond pure bitcoin mining toward data centers and AI infrastructure, which could broaden the company’s long-term growth story. Earnings call article
• Neutral Sentiment: Analyst commentary suggests the valuation debate around CLSK is still evolving, with the average fair value target moving only slightly higher to about $19.29 per share as opinions remain split. Analyst narrative article
• Negative Sentiment: Zacks Research cut CleanSpark to “strong sell,” which may pressure sentiment by highlighting concern after the stock’s recent run-up. Zacks downgrade article
• Negative Sentiment: Recent earnings coverage pointed to disappointing quarterly results, including a revenue decline and a wider net loss, reminding investors that profitability remains under pressure. Earnings miss article

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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