Cleanspark (NASDAQ:CLSK) Receives “Buy” Rating from BTIG Research

BTIG Research reaffirmed their buy rating on shares of Cleanspark (NASDAQ:CLSK) in a research note published on Tuesday morning,Benzinga reports. They currently have a $26.00 price target on the stock.

CLSK has been the topic of several other reports. B. Riley Financial cut their target price on shares of Cleanspark from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Cantor Fitzgerald cut their target price on shares of Cleanspark from $17.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. 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 report on Tuesday. Chardan Capital restated a “buy” rating and set a $16.00 price objective on shares of Cleanspark in a report on Wednesday, April 8th. Finally, Northland Securities initiated coverage on shares of Cleanspark in a report on Tuesday, January 13th. They set an “outperform” rating and a $22.50 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.29.

Cleanspark Stock Performance

NASDAQ CLSK opened at $13.47 on Tuesday. The stock has a market cap of $3.44 billion, a P/E ratio of -6.41 and a beta of 3.71. The company’s 50-day simple moving average is $10.71 and its 200 day simple moving average is $11.93. Cleanspark has a twelve month low of $8.00 and a twelve month high of $23.61. The company has a quick ratio of 10.54, a current ratio of 10.54 and a debt-to-equity ratio of 1.29.

Cleanspark (NASDAQ:CLSK) last issued its quarterly earnings data on Monday, May 11th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($1.27). Cleanspark had a positive return on equity of 6.22% and a negative net margin of 67.66%.The firm had revenue of $136.41 million for the quarter, compared to the consensus estimate of $145.36 million. During the same period in the prior year, the company posted ($0.49) earnings per share. Cleanspark’s quarterly revenue was down 24.9% compared to the same quarter last year. As a group, research analysts forecast that Cleanspark will post -0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cleanspark

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC boosted its position in shares of Cleanspark by 38.9% in the third quarter. Smartleaf Asset Management LLC now owns 2,660 shares of the company’s stock valued at $40,000 after acquiring an additional 745 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Cleanspark by 4.0% in the third quarter. PNC Financial Services Group Inc. now owns 20,096 shares of the company’s stock valued at $291,000 after acquiring an additional 781 shares during the period. KBC Group NV boosted its position in shares of Cleanspark by 10.7% in the first quarter. KBC Group NV now owns 8,574 shares of the company’s stock valued at $73,000 after acquiring an additional 828 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Cleanspark by 3.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 25,838 shares of the company’s stock valued at $375,000 after purchasing an additional 873 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its position in Cleanspark by 115.5% during the third quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock valued at $25,000 after purchasing an additional 937 shares during the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Cleanspark News Roundup

Here are the key news stories impacting Cleanspark this week:

• Positive Sentiment: Maxim Group raised its price target on Cleanspark to $22 from $18 and kept a buy rating, suggesting meaningful upside from current levels. Article title
• Positive Sentiment: Keefe, Bruyette & Woods maintained an outperform view with a $14 target after the earnings miss, indicating some analysts still see value despite near-term weakness.
• Positive Sentiment: There was notable call-option buying in CLSK, which can signal that some traders are positioning for a rebound or further volatility to the upside.
• Positive Sentiment: Management emphasized a pivot toward AI/data-center infrastructure, highlighting expanded contracted capacity and a 14–18 month delivery timeline for AI data centers, which could support a longer-term growth story.
• Neutral Sentiment: CleanSpark’s earnings call and related coverage focused on the company’s transition beyond pure Bitcoin mining, with investors watching whether the infrastructure strategy can create new revenue streams.
• Negative Sentiment: CleanSpark reported a much larger-than-expected Q2 loss and missed revenue estimates, with revenue down sharply year over year. The weak operating results are a key reason the stock has been under pressure.
• Negative Sentiment: Management also flagged more than $200 million in losses tied to Bitcoin holdings, adding to concerns about earnings volatility and crypto-price exposure.
• Negative Sentiment: Zacks Research downgraded Cleanspark from hold to strong sell, reinforcing bearish sentiment after the disappointing quarter.

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.