Zacks Research Downgrades Cleanspark (NASDAQ:CLSK) to Strong Sell

Cleanspark (NASDAQ:CLSK) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also commented on CLSK. Maxim Group upped their price objective on Cleanspark from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday. Needham & Company LLC upped their price objective on Cleanspark from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Keefe, Bruyette & Woods lowered their price objective on Cleanspark from $18.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, February 9th. B. Riley Financial lowered their price objective on Cleanspark from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Finally, Cantor Fitzgerald lowered their price objective on Cleanspark from $17.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.29.

Cleanspark Trading Down 5.8%

Cleanspark stock opened at $13.47 on Monday. The company has a current ratio of 10.54, a quick ratio of 10.54 and a debt-to-equity ratio of 1.29. Cleanspark has a 12 month low of $8.00 and a 12 month high of $23.61. The stock’s 50 day simple moving average is $10.71 and its two-hundred day simple moving average is $11.93. The firm has a market cap of $3.44 billion, a PE ratio of -6.41 and a beta of 3.71.

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). Cleanspark had a positive return on equity of 6.22% and a negative net margin of 67.66%.The company had revenue of $136.41 million during the quarter, compared to analysts’ expectations of $145.36 million. During the same quarter in the prior year, the company posted ($0.49) EPS. The company’s revenue for the quarter was down 24.9% on a year-over-year basis. Analysts anticipate that Cleanspark will post -0.7 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. lifted its position in shares of Cleanspark by 115.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock valued at $25,000 after buying an additional 937 shares in the last quarter. Danske Bank A S purchased a new position in shares of Cleanspark during the 4th quarter valued at approximately $25,000. Quarry LP purchased a new position in shares of Cleanspark during the 3rd quarter valued at approximately $26,000. Morse Asset Management Inc purchased a new position in shares of Cleanspark during the 3rd quarter valued at approximately $32,000. Finally, Strs Ohio purchased a new position in shares of Cleanspark during the 1st quarter valued at approximately $38,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Cleanspark News Roundup

Here are the key news stories impacting Cleanspark this week:

• Positive Sentiment: Maxim Group raised its price target on CleanSpark from $18 to $22 and reiterated a buy rating, implying meaningful upside from current levels. Benzinga
• Positive Sentiment: Analysts and management continue to frame CleanSpark’s expansion into AI and high-performance computing data centers as a potential new growth driver beyond Bitcoin mining. Yahoo Finance
• Positive Sentiment: Unusually heavy call-option buying suggests some traders are betting on a rebound or further upside in CLSK shares. Benzinga
• Neutral Sentiment: CleanSpark reported second-quarter fiscal 2026 results showing continued infrastructure expansion, including more megawatts under contract and higher Bitcoin holdings, which supports the long-term story but did not offset near-term operating pressure. PR Newswire
• Negative Sentiment: The earnings report disappointed investors: CleanSpark posted a wider-than-expected loss and revenue came in below estimates, reinforcing concerns about profitability and declining core mining economics. Zacks
• Negative Sentiment: Reports that the company flagged more than $200 million in losses tied to Bitcoin holdings added pressure, highlighting the risks of its crypto exposure. MSN

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.