Cleanspark (NASDAQ:CLSK) Shares Gap Up – Still a Buy?

Cleanspark, Inc. (NASDAQ:CLSK) shares gapped up before the market opened on Friday . The stock had previously closed at $12.75, but opened at $13.97. Cleanspark shares last traded at $12.39, with a volume of 7,811,132 shares traded.

Key Headlines Impacting Cleanspark

Here are the key news stories impacting Cleanspark this week:

• Positive Sentiment: CleanSpark signed a 20-year, $6.6 billion triple-net lease for its Sandersville, Georgia, AI data center with a high-quality investment-grade tenant. The company said the project’s anticipated equity contribution is fully funded and that long-lead equipment has been ordered and prepaid, supporting its strategy to diversify beyond bitcoin mining. CleanSpark Reports Third Fiscal Quarter 2026 Results
• Positive Sentiment: Management highlighted the Sandersville lease as the foundation of its AI infrastructure pivot, with approximately $6.6 billion in contracted revenue. Financing is expected to rely on debt rather than issuing new equity, which could limit dilution if executed as planned. CleanSpark’s Q3 Earnings Call Centers on Sandersville AI Lease
• Positive Sentiment: Cantor Fitzgerald reaffirmed its “overweight” rating and assigned a $26 price target, implying substantial upside from recent trading levels. The bullish view appears tied primarily to the potential value of CleanSpark’s AI data-center expansion. Cantor Fitzgerald rating update
• Neutral Sentiment: The Sandersville project is a major strategic opportunity, but investors will likely monitor construction progress, financing costs, tenant execution and the timing of revenue recognition before assigning full value to the contracted lease.
• Negative Sentiment: Third-quarter results missed expectations. CleanSpark reported a per-share loss of $0.89 versus a consensus loss of $0.48, while revenue of $138.0 million fell short of the $142.4 million estimate. Revenue also declined 30.5% year over year, and the company remained deeply unprofitable. CleanSpark third-quarter earnings report
• Negative Sentiment: The earnings weakness reinforces concerns about CleanSpark’s near-term bitcoin-mining economics and the execution risk involved in transitioning toward capital-intensive AI infrastructure.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CLSK. Keefe, Bruyette & Woods raised their target price on Cleanspark from $16.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, July 28th. Maxim Group upped their price target on shares of Cleanspark from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Zacks Research raised shares of Cleanspark from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $26.00 price objective on shares of Cleanspark in a research report on Friday. Finally, Citizens Jmp began coverage on shares of Cleanspark in a research note on Wednesday, June 24th. They set a “market outperform” rating and a $27.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.88.

Cleanspark Trading Down 3.5%

The firm has a 50-day moving average of $14.89 and a 200 day moving average of $12.67. The company has a current ratio of 8.26, a quick ratio of 8.26 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of -3.26 and a beta of 3.86.

Cleanspark (NASDAQ:CLSK) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.42). The business had revenue of $138.01 million during the quarter, compared to the consensus estimate of $142.37 million. Cleanspark had a negative return on equity of 16.32% and a negative net margin of 146.90%.The company’s revenue for the quarter was down 30.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. As a group, equities analysts predict that Cleanspark, Inc. will post -1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Cleanspark

A number of institutional investors and hedge funds have recently bought and sold shares of CLSK. CoreCap Advisors LLC increased its stake in Cleanspark by 16.8% during the 2nd quarter. CoreCap Advisors LLC now owns 5,565 shares of the company’s stock valued at $81,000 after buying an additional 800 shares during the period. KBC Group NV lifted its stake in shares of Cleanspark by 10.7% in the 1st quarter. KBC Group NV now owns 8,574 shares of the company’s stock worth $73,000 after acquiring an additional 828 shares during the period. Cresset Asset Management LLC boosted its holdings in shares of Cleanspark by 4.9% in the second quarter. Cresset Asset Management LLC now owns 26,924 shares of the company’s stock valued at $297,000 after acquiring an additional 1,248 shares in the last quarter. CreativeOne Wealth LLC increased its stake in shares of Cleanspark by 11.0% during the third quarter. CreativeOne Wealth LLC now owns 16,893 shares of the company’s stock valued at $245,000 after acquiring an additional 1,680 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Cleanspark by 1.5% during the third quarter. Franklin Resources Inc. now owns 117,823 shares of the company’s stock valued at $1,708,000 after acquiring an additional 1,727 shares during the period. Institutional investors own 43.12% of the company’s stock.

About Cleanspark

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.