CleanSpark (NASDAQ:CLSK) Earns Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of CleanSpark (NASDAQ:CLSK - Free Report) in a research note released on Friday,Benzinga reports. They currently have a $27.00 price target on the stock. HC Wainwright also issued estimates for CleanSpark's Q1 2026 earnings at $0.16 EPS, Q2 2026 earnings at $0.19 EPS and Q3 2026 earnings at $0.22 EPS.

Several other brokerages also recently commented on CLSK. Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a research note on Monday, January 27th. They issued an "outperform" rating and a $19.00 target price for the company. JPMorgan Chase & Co. raised CleanSpark from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $10.50 to $17.00 in a research note on Tuesday, December 10th. Finally, Macquarie increased their price target on CleanSpark from $20.00 to $24.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $22.57.

CleanSpark Stock Performance

CLSK traded down $0.83 during trading on Friday, reaching $10.35. 16,976,960 shares of the company's stock were exchanged, compared to its average volume of 24,170,299. The company's fifty day moving average price is $11.27 and its 200-day moving average price is $11.51. The firm has a market capitalization of $2.91 billion, a PE ratio of 94.14 and a beta of 4.25. CleanSpark has a fifty-two week low of $8.04 and a fifty-two week high of $24.72.

CleanSpark (NASDAQ:CLSK - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.81% and a net margin of 16.07%. Research analysts forecast that CleanSpark will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CleanSpark

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLSK. Compagnie Lombard Odier SCmA bought a new position in shares of CleanSpark in the 4th quarter valued at about $31,000. GAMMA Investing LLC grew its stake in CleanSpark by 962.1% in the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock valued at $36,000 after purchasing an additional 3,579 shares in the last quarter. Hollencrest Capital Management increased its position in shares of CleanSpark by 33.3% during the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock worth $37,000 after purchasing an additional 1,000 shares during the last quarter. KBC Group NV raised its stake in shares of CleanSpark by 42.0% during the 3rd quarter. KBC Group NV now owns 7,403 shares of the company's stock worth $69,000 after purchasing an additional 2,190 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of CleanSpark by 21.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company's stock valued at $75,000 after buying an additional 1,345 shares during the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

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.