Cleanspark (NASDAQ:CLSK) Shares Gap Down Following Weak Earnings

Posted by Geri Gentry on May 12th, 2026

Cleanspark, Inc. (NASDAQ:CLSK – Get Free Report)’s stock price gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $14.30, but opened at $13.16. Cleanspark shares last traded at $13.3490, with a volume of 7,590,874 shares trading hands.

The company reported ($1.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($1.27). The firm had revenue of $136.41 million for the quarter, compared to analysts’ expectations of $145.36 million. Cleanspark had a negative net margin of 33.24% and a positive return on equity of 11.74%. The company’s revenue was down 24.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.49) EPS.

More Cleanspark News

Here are the key news stories impacting Cleanspark this week:

Positive Sentiment: CleanSpark said it doubled megawatts under contract year over year, including 585 MW of ERCOT-approved capacity, while increasing Bitcoin holdings 14% and average monthly hashrate 18%, underscoring operational growth and infrastructure expansion. CleanSpark Reports Second Fiscal Quarter 2026 Results
Positive Sentiment: Management said it is advancing a 1.8 GW contracted capacity pipeline and outlined a 14- to 18-month delivery timeline for AI data centers, which could support longer-term revenue opportunities beyond Bitcoin mining. Cleanspark outlines 14–18-month delivery timeline for ai data centers as it markets 1.8 gw contracted capacity
Neutral Sentiment: Executives emphasized the company’s evolution into a digital infrastructure and data center developer, framing AI as a new use case for its energy and compute assets. Cleanspark Inc (CLSK) Q2 2026 Earnings Call Highlights
Negative Sentiment: The quarter’s results were weak, with earnings and revenue both missing estimates and the company posting a larger-than-expected loss versus last year. CleanSpark (CLSK) Reports Q2 Loss, Lags Revenue Estimates
Negative Sentiment: Investors also reacted to a reported more than $200 million loss tied to Bitcoin holdings, adding to concerns about earnings volatility and crypto exposure. CLSK stock tumbles after flagging over $200M loss in bitcoin holdings

Analysts Set New Price Targets

CLSK has been the topic of several research analyst reports. Needham & Company LLC boosted their target price on Cleanspark from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Chardan Capital reissued a “buy” rating and issued a $16.00 price target on shares of Cleanspark in a report on Wednesday, April 8th. Zacks Research upgraded Cleanspark from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. B. Riley Financial cut their price objective on shares of Cleanspark from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Cleanspark from $18.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.29.

Read Our Latest Report on Cleanspark

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Cleanspark by 81.3% in the first quarter. Dimensional Fund Advisors LP now owns 14,102,777 shares of the company’s stock worth $120,007,000 after purchasing an additional 6,323,715 shares during the last quarter. Marex Group plc boosted its position in Cleanspark by 23,812.2% in the fourth quarter. Marex Group plc now owns 5,400,561 shares of the company’s stock valued at $54,654,000 after buying an additional 5,377,976 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in Cleanspark in the 3rd quarter worth approximately $56,056,000. Renaissance Technologies LLC purchased a new position in Cleanspark during the 4th quarter worth approximately $26,125,000. Finally, Situational Awareness LP purchased a new position in Cleanspark during the 4th quarter worth approximately $16,601,000. 43.12% of the stock is owned by institutional investors and hedge funds.

Cleanspark Stock Performance

The company has a debt-to-equity ratio of 1.29, a quick ratio of 10.54 and a current ratio of 10.54. The firm’s 50 day simple moving average is $10.64 and its 200 day simple moving average is $11.95. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of -12.30 and a beta of 3.71.

Cleanspark Company Profile

(Get Free Report)

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.

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