Chardan Capital Reduces Earnings Estimates for Cleanspark

Cleanspark, Inc. (NASDAQ:CLSK) – Chardan Capital reduced their FY2026 earnings per share estimates for Cleanspark in a note issued to investors on Thursday, November 27th. Chardan Capital analyst J. Mcilree now anticipates that the company will post earnings per share of $0.73 for the year, down from their prior estimate of $0.85. Chardan Capital currently has a “Buy” rating and a $30.00 target price on the stock. The consensus estimate for Cleanspark’s current full-year earnings is $0.58 per share.

Several other brokerages have also recently issued reports on CLSK. HC Wainwright cut their target price on shares of Cleanspark from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. JPMorgan Chase & Co. raised shares of Cleanspark from a “neutral” rating to an “overweight” rating and set a $14.00 price target on the stock in a report on Monday, November 24th. B. Riley decreased their price objective on shares of Cleanspark from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cleanspark in a report on Wednesday, October 8th. Finally, BTIG Research boosted their price target on Cleanspark from $22.00 to $26.00 and gave the company a “buy” rating in a report on Monday, October 13th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Cleanspark currently has an average rating of “Moderate Buy” and a consensus price target of $23.20.

Cleanspark Trading Down 6.8%

NASDAQ CLSK opened at $14.08 on Monday. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average of $15.85 and a 200-day moving average of $12.39. The firm has a market cap of $3.60 billion, a PE ratio of 12.68 and a beta of 3.79. Cleanspark has a 1-year low of $6.45 and a 1-year high of $23.61.

Insider Activity

In related news, COO Taylor Monnig sold 63,713 shares of the 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 transaction, the chief operating officer directly owned 120,337 shares in the company, valued at $1,097,473.44. This trade represents a 34.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cleanspark

Several large investors have recently made changes to their positions in the business. Victory Capital Management Inc. grew its stake in shares of Cleanspark by 57.5% in the 1st quarter. Victory Capital Management Inc. now owns 55,090 shares of the company’s stock worth $370,000 after buying an additional 20,119 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Cleanspark by 5.2% in the first quarter. Cetera Investment Advisers now owns 250,816 shares of the company’s stock worth $1,685,000 after acquiring an additional 12,417 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Cleanspark by 19.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,472 shares of the company’s stock worth $406,000 after acquiring an additional 9,812 shares during the last quarter. US Bancorp DE increased its holdings in shares of Cleanspark by 2,579.9% during the first quarter. US Bancorp DE now owns 25,298 shares of the company’s stock valued at $170,000 after acquiring an additional 24,354 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Cleanspark by 802.4% during the first quarter. PNC Financial Services Group Inc. now owns 16,289 shares of the company’s stock valued at $109,000 after acquiring an additional 14,484 shares in the last quarter. 43.12% of the stock is currently 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.