What is B. Riley’s Forecast for Cleanspark FY2025 Earnings?

Cleanspark, Inc. (NASDAQ:CLSK) – Stock analysts at B. Riley lifted their FY2025 earnings estimates for shares of Cleanspark in a research report issued to clients and investors on Tuesday, October 14th. B. Riley analyst N. Giles now expects that the company will post earnings per share of $0.97 for the year, up from their prior estimate of $0.89. B. Riley has a “Buy” rating and a $25.00 price target on the stock. The consensus estimate for Cleanspark’s current full-year earnings is $0.58 per share.

Several other research analysts have also weighed in on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and set a $14.00 price objective (down from $15.00) on shares of Cleanspark in a report on Friday, September 26th. Needham & Company LLC lifted their price objective on shares of Cleanspark from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, October 10th. BTIG Research lifted their price objective on shares of Cleanspark from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Monday. Wall Street Zen upgraded shares of Cleanspark from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Macquarie lifted their price objective on shares of Cleanspark from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.83.

Cleanspark Price Performance

Shares of CLSK stock opened at $23.20 on Wednesday. The firm has a market cap of $6.52 billion, a P/E ratio of 27.29 and a beta of 3.88. Cleanspark has a 1-year low of $6.45 and a 1-year high of $23.61. The firm has a fifty day moving average of $12.50 and a two-hundred day moving average of $10.67.

Cleanspark (NASDAQ:CLSK) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.71. The business had revenue of $198.64 million during the quarter, compared to analyst estimates of $191.33 million. Cleanspark had a net margin of 47.98% and a return on equity of 8.89%. The business’s revenue was up 90.8% on a year-over-year basis. During the same period last year, the business earned ($1.03) EPS.

Institutional Trading of Cleanspark

Several large investors have recently added to or reduced their stakes in CLSK. GAMMA Investing LLC boosted its holdings in shares of Cleanspark by 207.8% during the 1st quarter. GAMMA Investing LLC now owns 12,163 shares of the company’s stock worth $82,000 after buying an additional 8,212 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Cleanspark by 93.4% during the 1st quarter. Farther Finance Advisors LLC now owns 26,306 shares of the company’s stock worth $177,000 after acquiring an additional 12,706 shares during the period. Yousif Capital Management LLC bought a new position in shares of Cleanspark during the 1st quarter worth about $689,000. CX Institutional bought a new position in shares of Cleanspark during the 1st quarter worth about $26,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Cleanspark during the 1st quarter worth about $1,035,000. 43.12% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cleanspark news, COO Taylor Monnig sold 63,713 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $9.12, for a total value of $581,062.56. Following the completion of the sale, the chief operating officer directly owned 120,337 shares of the company’s stock, valued at $1,097,473.44. The trade was a 34.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.65% of the stock is owned by corporate insiders.

Cleanspark Company Profile

CleanSpark, Inc operates as a bitcoin miner in the Americas. It owns and operates data centers that primarily run on low-carbon power. Its infrastructure supports Bitcoin, a digital commodity and a tool for financial independence and inclusion. The company was formerly known as Stratean Inc and changed its name to CleanSpark, Inc in November 2016.