B. Riley Has Pessimistic Outlook of Cleanspark Q1 Earnings

Cleanspark, Inc. (NASDAQ:CLSK) – Equities researchers at B. Riley lowered their Q1 2027 earnings per share estimates for Cleanspark in a research report issued on Friday, August 8th. B. Riley analyst N. Giles now forecasts that the company will earn $0.12 per share for the quarter, down from their prior estimate of $0.14. B. Riley has a “Buy” rating and a $17.00 price target on the stock. The consensus estimate for Cleanspark’s current full-year earnings is $0.58 per share. B. Riley also issued estimates for Cleanspark’s Q3 2027 earnings at $0.10 EPS.

CLSK has been the subject of several other research reports. JPMorgan Chase & Co. boosted their price target on Cleanspark from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Chardan Capital reissued a “buy” rating and set a $20.00 price target on shares of Cleanspark in a report on Friday, August 8th. Cantor Fitzgerald boosted their price target on Cleanspark from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Wall Street Zen raised Cleanspark from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, LADENBURG THALM/SH SH assumed coverage on Cleanspark in a research note on Monday, July 28th. They issued a “buy” rating and a $20.25 price objective for the company. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.47.

Cleanspark Stock Performance

NASDAQ:CLSK opened at $9.92 on Monday. The stock has a 50-day simple moving average of $10.99 and a two-hundred day simple moving average of $9.53. Cleanspark has a 52-week low of $6.45 and a 52-week high of $17.97. The firm has a market capitalization of $2.79 billion, a PE ratio of 11.67 and a beta of 3.72.

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

Institutional Investors Weigh In On Cleanspark

A number of hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp lifted its position in shares of Cleanspark by 145.3% in the second quarter. Fifth Third Bancorp now owns 2,860 shares of the company’s stock worth $32,000 after buying an additional 1,694 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Cleanspark by 15.1% in the first quarter. Wellington Management Group LLP now owns 13,990 shares of the company’s stock worth $94,000 after buying an additional 1,834 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Cleanspark by 13.5% in the fourth quarter. Mackenzie Financial Corp now owns 15,916 shares of the company’s stock worth $147,000 after buying an additional 1,898 shares in the last quarter. Harvest Portfolios Group Inc. lifted its position in shares of Cleanspark by 2.4% in the first quarter. Harvest Portfolios Group Inc. now owns 84,522 shares of the company’s stock worth $568,000 after buying an additional 2,014 shares in the last quarter. Finally, Phoenix Financial Ltd. lifted its position in shares of Cleanspark by 7.0% in the second quarter. Phoenix Financial Ltd. now owns 31,979 shares of the company’s stock worth $352,000 after buying an additional 2,089 shares in the last quarter. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cleanspark

In other news, Director Roger Paul Beynon sold 50,000 shares of the company’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $10.51, for a total value of $525,500.00. Following the completion of the transaction, the director owned 125,511 shares of the company’s stock, valued at $1,319,120.61. This represents a 28.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.65% of the stock is currently 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.