Cleanspark (NASDAQ:CLSK) Shares Climb 10.2% – Here’s Why

Posted by Francis Steltz on Nov 5th, 2026

Cleanspark, Inc. (NASDAQ:CLSK – Get Free Report)’s share price traded up 10.2% on Tuesday. The company traded as high as $7.89 and last traded at $7.8810. 3,790,090 shares changed hands during trading, a decline of 83% from the average daily volume of 21,911,102 shares. The stock had previously closed at $7.15.

Cleanspark News Summary

Here are the key news stories impacting Cleanspark this week:

Positive Sentiment: Sanford C. Bernstein kept its “Outperform” rating while cutting its price target to $11 from $24. The revised target remains well above the recent share price, though the size of the cut reflects a more cautious outlook. Bernstein price-target report
Neutral Sentiment: Bitcoin ETF ownership trends were mixed in the second quarter: large investors added bitcoin exposure overall, while hedge funds reduced their ETF holdings. This provides broader crypto-market context but does not directly address CleanSpark’s outlook. Wall Street Tightened Its Grip on Bitcoin ETFs in Q2
Neutral Sentiment: CleanSpark attracted increased investor searches, but the report offers no new company-specific development or clear trading catalyst. Zacks investor-search article
Negative Sentiment: Keefe, Bruyette & Woods downgraded the stock from “Outperform” to “Market Perform,” with a $9.50 target. The downgrade adds to concerns after shares fell sharply over the week and reached a new 52-week low. KBW downgrade CleanSpark Lost 21% in a Week to a New 52-Week Low
Negative Sentiment: Shares of CleanSpark and other crypto-mining companies faced pressure after Texas elected a critic of data-center expansion, raising concern about the political and regulatory environment for power-intensive facilities. CleanSpark Sinks as Texas Elects Data-Center Critic

Analysts Set New Price Targets

A number of analysts have recently issued reports on CLSK shares. Keefe, Bruyette & Woods downgraded Cleanspark from an “outperform” rating to a “market perform” rating and set a $9.50 price target for the company. in a research report on Wednesday. Needham & Company LLC lifted their target price on shares of Cleanspark from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Sanford C. Bernstein decreased their price target on shares of Cleanspark from $24.00 to $11.00 and set an “outperform” rating on the stock in a report on Wednesday. HC Wainwright restated a “buy” rating on shares of Cleanspark in a research report on Friday, August 7th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $21.00 price objective on shares of Cleanspark in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Cleanspark has a consensus rating of “Moderate Buy” and a consensus target price of $20.71.

View Our Latest Analysis on Cleanspark

Cleanspark Stock Performance

The company has a debt-to-equity ratio of 2.34, a quick ratio of 5.91 and a current ratio of 5.91. The firm has a market cap of $1.46 billion, a P/E ratio of -1.51 and a beta of 3.66. The business’s 50-day simple moving average is $11.24 and its 200 day simple moving average is $12.27.

Cleanspark (NASDAQ:CLSK – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.89) 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 for the quarter, compared to the consensus estimate of $142.37 million. During the same period in the prior year, the business earned $0.90 earnings per share. Cleanspark’s revenue was down 30.5% compared to the same quarter last year. As a group, equities analysts predict that Cleanspark, Inc. will post -1.40 earnings per share for the current year.

Insiders Place Their Bets

In other Cleanspark news, COO Taylor Monnig sold 3,335 shares of Cleanspark stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $12.33, for a total transaction 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. The trade was a 0.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 33,151 shares of company stock valued at $435,473 in the last 90 days. Company insiders own 2.08% of the company’s stock.

Institutional Trading of Cleanspark

Several large investors have recently added to or reduced their stakes in CLSK. Markowski Investments purchased a new position in Cleanspark during the 2nd quarter worth $25,000. GK Wealth Management LLC purchased a new stake in shares of Cleanspark in the third quarter valued at about $52,000. Versant Capital Management Inc boosted its holdings in shares of Cleanspark by 229.0% in the third quarter. Versant Capital Management Inc now owns 4,939 shares of the company’s stock valued at $64,000 after acquiring an additional 3,438 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Cleanspark by 53.7% in the second quarter. NewEdge Advisors LLC now owns 5,215 shares of the company’s stock valued at $76,000 after acquiring an additional 1,822 shares in the last quarter. Finally, CoreCap Advisors LLC increased its stake in shares of Cleanspark by 16.8% during the second quarter. CoreCap Advisors LLC now owns 5,565 shares of the company’s stock worth $81,000 after acquiring an additional 800 shares during the period. Hedge funds and other institutional investors own 43.12% of the company’s stock.

About Cleanspark

(Get Free Report)

CleanSpark, Inc is a bitcoin mining and digital infrastructure company headquartered in Henderson, Nevada. The company develops and operates data centers that use specialized computing equipment to validate transactions and secure the Bitcoin network.

CleanSpark focuses on acquiring, building and managing bitcoin mining facilities in the United States. Its operations have included sites in Georgia, Mississippi, Tennessee and Wyoming, with an emphasis on energy management, operational efficiency and access to reliable power.