Core Scientific (CORZ) Projected to Post Quarterly Earnings on Wednesday

Core Scientific (NASDAQ:CORZ) is anticipated to issue its quarterly earnings data before the market opens on Wednesday, February 26th. Analysts expect the company to announce earnings of ($0.10) per share and revenue of $97.06 million for the quarter.

Core Scientific Trading Down 8.8 %

NASDAQ:CORZ opened at $10.80 on Monday. Core Scientific has a 1 year low of $2.61 and a 1 year high of $18.63. The firm’s fifty day simple moving average is $13.69 and its 200 day simple moving average is $13.30. The firm has a market capitalization of $3.02 billion and a PE ratio of -2.00.

Insider Transactions at Core Scientific

In related news, insider Todd M. Duchene sold 129,861 shares of Core Scientific stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total transaction of $1,849,220.64. Following the completion of the transaction, the insider now directly owns 2,051,649 shares of the company’s stock, valued at $29,215,481.76. This trade represents a 5.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam Taylor Sullivan sold 369,712 shares of Core Scientific stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the transaction, the chief executive officer now directly owns 3,758,793 shares of the company’s stock, valued at $61,042,798.32. This represents a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 614,032 shares of company stock valued at $9,534,916. Company insiders own 32.00% of the company’s stock.

Analyst Upgrades and Downgrades

CORZ has been the topic of several research analyst reports. Macquarie raised their price target on shares of Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. HC Wainwright raised their price target on shares of Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. BTIG Research raised their price target on shares of Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Jefferies Financial Group initiated coverage on shares of Core Scientific in a research report on Monday, October 28th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $18.00 price target on shares of Core Scientific in a research report on Friday, January 17th. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Core Scientific presently has an average rating of “Buy” and a consensus target price of $19.07.

About Core Scientific

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.