Chardan Capital Raises Earnings Estimates for Cleanspark

Cleanspark, Inc. (NASDAQ:CLSK) – Equities research analysts at Chardan Capital upped their FY2026 EPS estimates for shares of Cleanspark in a research report issued on Monday, September 8th. Chardan Capital analyst J. Mcilree now anticipates that the company will post earnings of $0.88 per share for the year, up from their prior estimate of $0.76. 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.

CLSK has been the subject of a number of other reports. LADENBURG THALM/SH SH initiated coverage on shares of Cleanspark in a research note on Monday, July 28th. They issued a “buy” rating and a $20.25 price objective for the company. Wall Street Zen raised shares of Cleanspark from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. B. Riley lifted their price objective on shares of Cleanspark from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. BTIG Research reissued a “buy” rating on shares of Cleanspark in a research note on Friday, June 13th. Finally, Cantor Fitzgerald lifted their price target on shares of Cleanspark from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Ten investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $20.47.

Cleanspark Stock Up 1.7%

Shares of NASDAQ:CLSK opened at $10.20 on Thursday. Cleanspark has a 52 week low of $6.45 and a 52 week high of $17.97. The stock has a market capitalization of $2.87 billion, a P/E ratio of 12.00 and a beta of 3.65. The firm has a fifty day simple moving average of $10.79 and a two-hundred day simple moving average of $9.43.

Cleanspark (NASDAQ:CLSK) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.71. Cleanspark had a net margin of 47.98% and a return on equity of 8.89%. The business had revenue of $198.64 million during the quarter, compared to analysts’ expectations of $191.33 million. During the same period last year, the company posted ($1.03) EPS. The business’s revenue was up 90.8% on a year-over-year basis.

Insider Transactions at Cleanspark

In other Cleanspark news, COO Taylor Monnig sold 63,713 shares of the business’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $9.12, for a total value of $581,062.56. Following the completion of the sale, the chief operating officer directly owned 120,337 shares of the company’s stock, valued at $1,097,473.44. The trade was a 34.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cleanspark

Several large investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC boosted its position in Cleanspark by 374.3% in the 2nd quarter. Neuberger Berman Group LLC now owns 50,120 shares of the company’s stock valued at $553,000 after buying an additional 39,553 shares during the period. Marex Group plc purchased a new stake in Cleanspark in the 2nd quarter valued at about $247,000. Public Sector Pension Investment Board boosted its position in Cleanspark by 7.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 948,234 shares of the company’s stock valued at $10,459,000 after buying an additional 66,571 shares during the period. Evergreen Capital Management LLC bought a new stake in shares of Cleanspark in the 2nd quarter valued at about $222,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Cleanspark by 248.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 39,093 shares of the company’s stock valued at $431,000 after purchasing an additional 27,883 shares in the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

Cleanspark Company Profile

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.