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

BTIG Research restated their buy rating on shares of Cleanspark (NASDAQ:CLSK) in a research report sent to investors on Tuesday, Marketbeat.com reports. They currently have a $26.00 price target on the stock.

Several other research analysts have also recently weighed in on CLSK. Chardan Capital reissued a “buy” rating and issued a $19.00 price target on shares of Cleanspark in a report on Wednesday, July 8th. Keefe, Bruyette & Woods boosted their price objective on Cleanspark from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Citigroup started coverage on Cleanspark in a research report on Wednesday, June 24th. They issued an “outperform” rating on the stock. Cantor Fitzgerald lowered their target price on Cleanspark from $17.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Finally, Weiss Ratings cut Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.12.

Cleanspark Trading Up 8.8%

Shares of Cleanspark stock opened at $13.45 on Tuesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.26 and a quick ratio of 8.26. The business has a fifty day simple moving average of $15.35 and a two-hundred day simple moving average of $12.39. Cleanspark has a 1 year low of $8.00 and a 1 year high of $23.61. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -6.40 and a beta of 3.83.

Cleanspark (NASDAQ:CLSK) last released its quarterly earnings data on Monday, May 11th. The company reported ($1.52) EPS for the quarter, missing the consensus estimate of ($0.25) by ($1.27). The company had revenue of $136.41 million during the quarter, compared to analyst estimates of $145.35 million. Cleanspark had a negative net margin of 67.66% and a positive return on equity of 7.07%. Cleanspark’s revenue for the quarter was down 24.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.49) earnings per share. Research analysts forecast that Cleanspark will post -1.19 EPS for the current year.

Hedge Funds Weigh In On Cleanspark

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC grew its stake in shares of Cleanspark by 16.8% in the second quarter. CoreCap Advisors LLC now owns 5,565 shares of the company’s stock worth $81,000 after purchasing an additional 800 shares during the last quarter. KBC Group NV lifted its holdings in Cleanspark by 10.7% in the 1st quarter. KBC Group NV now owns 8,574 shares of the company’s stock worth $73,000 after buying an additional 828 shares during the period. FNY Investment Advisers LLC grew its position in shares of Cleanspark by 14.6% in the 3rd quarter. FNY Investment Advisers LLC now owns 9,595 shares of the company’s stock worth $139,000 after buying an additional 1,219 shares during the last quarter. Cresset Asset Management LLC increased its stake in shares of Cleanspark by 4.9% during the second quarter. Cresset Asset Management LLC now owns 26,924 shares of the company’s stock valued at $297,000 after buying an additional 1,248 shares during the period. Finally, CreativeOne Wealth LLC raised its holdings in shares of Cleanspark by 11.0% during the third quarter. CreativeOne Wealth LLC now owns 16,893 shares of the company’s stock valued at $245,000 after acquiring an additional 1,680 shares in the last quarter. 43.12% of the stock is owned by institutional investors and hedge funds.

Key Cleanspark News

Here are the key news stories impacting Cleanspark this week:

• Positive Sentiment: CleanSpark secured a 20-year lease for 175 MW of critical IT load at its Georgia campus, marking a major expansion into AI and high-performance computing infrastructure and creating a large, recurring revenue stream. PR Newswire release
• Positive Sentiment: The lease’s scale far exceeds CleanSpark’s market value, reinforcing the idea that the company is transitioning from a Bitcoin miner into a digital infrastructure landlord, which could justify a higher valuation multiple. Proactive Investors article
• Positive Sentiment: BTIG reaffirmed its Buy rating and raised its price target to $26, adding to the bullish reaction around the new AI/data center strategy. Street Insider article
• Neutral Sentiment: Unusual options activity showed heavy call buying, suggesting traders are positioning for more upside, but it does not by itself change the company’s fundamentals.
• Negative Sentiment: The new development strategy will require significant upfront capital and carries execution risk, including construction milestones and a long delay before revenue begins in 2027.

About Cleanspark

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.