What is HC Wainwright's Estimate for Cleanspark Q3 Earnings?

Key Points

• HC Wainwright lowered its Q3 2026 EPS estimate for CleanSpark to ($0.37) from ($0.23), signaling a more cautious outlook on near-term earnings.
• CleanSpark’s latest reported quarter was much weaker than expected, with EPS of ($1.52) versus a consensus estimate of ($0.25) and revenue of $136.41 million below forecasts.
• Despite recent volatility, analyst sentiment remains mixed but generally constructive, with several firms raising price targets and MarketBeat showing a Moderate Buy consensus and average target price of $20.44.

Cleanspark, Inc. (NASDAQ:CLSK - Free Report) - Equities research analysts at HC Wainwright lowered their Q3 2026 EPS estimates for Cleanspark in a research note issued to investors on Tuesday, May 12th. HC Wainwright analyst M. Colonnese now forecasts that the company will post earnings per share of ($0.37) for the quarter, down from their previous forecast of ($0.23). The consensus estimate for Cleanspark's current full-year earnings is ($0.70) per share. HC Wainwright also issued estimates for Cleanspark's Q4 2026 earnings at ($0.26) EPS and FY2026 earnings at ($2.24) EPS.

Several other equities research analysts also recently issued reports on CLSK. Maxim Group raised their price objective on shares of Cleanspark from $18.00 to $22.00 and gave the stock a "buy" rating in a research report on Tuesday. Cantor Fitzgerald cut their price objective on shares of Cleanspark from $17.00 to $14.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Zacks Research cut shares of Cleanspark from a "hold" rating to a "strong sell" rating in a report on Monday. Keefe, Bruyette & Woods raised their target price on shares of Cleanspark from $14.00 to $16.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, BTIG Research reaffirmed a "buy" rating and set a $26.00 target price on shares of Cleanspark in a report on Tuesday. One 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's stock. Based on data from MarketBeat, Cleanspark currently has a consensus rating of "Moderate Buy" and an average target price of $20.44.

Cleanspark Trading Down 1.3%

Shares of CLSK stock opened at $13.30 on Thursday. The firm has a 50 day moving average price of $10.77 and a two-hundred day moving average price of $11.90. The company has a quick ratio of 10.54, a current ratio of 8.26 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $3.41 billion, a PE 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.

Cleanspark (NASDAQ:CLSK - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates 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 was down 24.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.49) earnings per share.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Cleanspark by 3.0% during the third 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 during the period. Dimensional Fund Advisors LP increased its stake in Cleanspark by 81.3% in the first 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 last quarter. Marex Group plc increased its stake in Cleanspark by 23,812.2% in the fourth 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 during the last quarter. Invesco Ltd. increased its stake in Cleanspark by 22.1% in the third 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 during the last quarter. Finally, Tidal Investments LLC increased its stake in Cleanspark by 13.3% in the third 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 during the last quarter. 43.12% of the stock is owned by institutional investors.

More Cleanspark News

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

About Cleanspark

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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