Cleanspark (NASDAQ:CLSK) Stock Price Down 5.8% – Here’s Why

Posted by Francis Steltz on Oct 8th, 2026

Cleanspark, Inc. (NASDAQ:CLSK – Get Free Report) shares fell 5.8% during mid-day trading on Thursday. The stock traded as low as $10.80 and last traded at $10.85. 4,761,214 shares traded hands during trading, a decline of 79% from the average session volume of 22,305,309 shares. The stock had previously closed at $11.52.

Analysts Set New Price Targets

A number of research firms have issued reports on CLSK. BTIG Research restated a “buy” rating and set a $26.00 target price on shares of Cleanspark in a research report on Tuesday, July 14th. Weiss Ratings raised shares of Cleanspark from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Chardan Capital restated a “buy” rating and issued a $21.00 price objective on shares of Cleanspark in a report on Monday, August 10th. Needham & Company LLC increased their price objective on shares of Cleanspark from $18.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $26.00 price objective on shares of Cleanspark in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.88.

Read Our Latest Stock Report on CLSK

Cleanspark Trading Down 7.9%

The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 2.34. The company has a market capitalization of $2.73 billion, a P/E ratio of -2.82 and a beta of 3.84. The business has a fifty day moving average price of $12.84 and a 200 day moving average price of $13.32.

Cleanspark (NASDAQ:CLSK – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). Cleanspark had a negative net margin of 146.90% and a negative return on equity of 18.63%. The business had revenue of $138.01 million during the quarter, compared to analyst estimates of $142.37 million. During the same quarter last year, the business earned $0.90 earnings per share. Cleanspark’s revenue for the quarter was down 30.5% on a year-over-year basis. On average, analysts expect that Cleanspark, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Transactions at Cleanspark

In other news, COO Taylor Monnig sold 3,335 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $12.33, for a total value of $41,120.55. Following the completion of the sale, the chief operating officer directly owned 336,810 shares of the company’s stock, valued at $4,152,867.30. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders have sold 33,151 shares of company stock valued at $435,473. Company insiders own 2.08% of the company’s stock.

Institutional Investors Weigh In On Cleanspark

A number of institutional investors have recently made changes to their positions in CLSK. Dimensional Fund Advisors LP increased its holdings in shares of Cleanspark by 81.3% during 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 period. Situational Awareness LP boosted its stake in shares of Cleanspark by 648.4% in the first quarter. Situational Awareness LP now owns 12,276,139 shares of the company’s stock valued at $104,470,000 after buying an additional 10,635,739 shares during the period. Bank of America Corp DE grew its position in Cleanspark by 49.2% during the first quarter. Bank of America Corp DE now owns 2,576,687 shares of the company’s stock worth $21,928,000 after buying an additional 849,865 shares in the last quarter. Intrinsic Edge Capital Management LLC grew its position in Cleanspark by 617.3% during the first quarter. Intrinsic Edge Capital Management LLC now owns 894,735 shares of the company’s stock worth $7,614,000 after buying an additional 770,000 shares in the last quarter. Finally, Headlands Technologies LLC increased its stake in Cleanspark by 214.8% during the 2nd quarter. Headlands Technologies LLC now owns 512,476 shares of the company’s stock worth $7,457,000 after acquiring an additional 349,658 shares during the period. Institutional investors own 43.12% of the company’s stock.

About Cleanspark

(Get Free Report)

CleanSpark, Inc is a U.S.-based bitcoin mining and energy technology company traded on the Nasdaq under the symbol CLSK. Its primary business is operating data centers that use specialized computing equipment to validate transactions on the Bitcoin network and earn bitcoin as a reward.

The company develops and operates its mining infrastructure in the United States, with facilities and operations located across several states. CleanSpark focuses on expanding and optimizing its data-center capacity, managing energy usage, and securing power resources to support its mining activities.

Before emphasizing bitcoin mining, CleanSpark was associated with energy-management and distributed-energy technologies designed to help businesses and communities improve energy efficiency and resilience.