Q3 EPS Estimates for Cleanspark Cut by Northland Securities

Cleanspark, Inc. (NASDAQ:CLSK) – Investment analysts at Northland Securities lowered their Q3 2026 earnings per share estimates for shares of Cleanspark in a research report issued to clients and investors on Monday, May 11th. Northland Securities analyst M. Grondahl now expects that the company will post earnings of ($0.26) per share for the quarter, down from their prior forecast 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) last issued its earnings results on Monday, May 11th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($1.27). The company had revenue of $136.41 million during 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 business’s revenue was down 24.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.49) earnings per share.

A number of other brokerages have also recently issued reports on CLSK. Maxim Group lifted their target price on Cleanspark from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday. B. Riley Financial decreased their target price on Cleanspark from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. BTIG Research reiterated a “buy” rating and set a $26.00 price target on shares of Cleanspark in a report on Tuesday. Needham & Company LLC lifted their price target on Cleanspark from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, Zacks Research downgraded Cleanspark from a “hold” rating to a “strong sell” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.44.

Cleanspark Stock Performance

Shares of NASDAQ CLSK opened at $13.30 on Thursday. 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 stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of -6.33 and a beta of 3.71. The stock’s fifty day simple moving average is $10.77 and its 200 day simple moving average is $11.90. Cleanspark has a 52-week low of $8.00 and a 52-week high of $23.61.

Institutional Trading of Cleanspark

Institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. boosted 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. Quarry LP acquired a new stake in Cleanspark during the third quarter valued at $26,000. Morse Asset Management Inc acquired a new stake in Cleanspark during the third quarter valued at $32,000. Danske Bank A S acquired a new stake in Cleanspark during the fourth quarter valued at $25,000. Finally, Smartleaf Asset Management LLC boosted its position in Cleanspark by 38.9% during the third quarter. Smartleaf Asset Management LLC now owns 2,660 shares of the company’s stock valued at $40,000 after purchasing an additional 745 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

Key Headlines 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.