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

Core Scientific (NASDAQ:CORZ) is expected to post its quarterly earnings results before the market opens on Tuesday, March 11th. Analysts expect Core Scientific to post earnings of ($0.06) per share and revenue of $97.06 million for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. The firm had revenue of $94.93 million for the quarter, compared to the consensus estimate of $97.07 million.

Core Scientific Stock Down 9.1 %

CORZ stock opened at $10.14 on Tuesday. The stock has a market capitalization of $2.83 billion and a price-to-earnings ratio of -1.87. Core Scientific has a twelve month low of $2.61 and a twelve month high of $18.63. The firm’s fifty day simple moving average is $13.12 and its two-hundred day simple moving average is $13.34.

Insider Activity

In other news, insider Todd M. Duchene sold 129,861 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,849,220.64. Following the sale, the insider now directly owns 2,051,649 shares in the company, valued at approximately $29,215,481.76. This trade represents a 5.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 3,758,793 shares in the company, 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 ninety days, insiders have sold 614,032 shares of company stock worth $9,534,916. Corporate insiders own 32.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Needham & Company LLC lowered their target price on shares of Core Scientific from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a research note on Thursday, November 14th. BTIG Research boosted their target price on shares of Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Cantor Fitzgerald lowered their target price on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Finally, HC Wainwright reissued a “buy” rating and set a $17.00 target price on shares of Core Scientific in a research note on Thursday, February 27th. Fifteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company 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.