Core Scientific (CORZ) Set to Release Earnings This Wednesday

Core Scientific (NASDAQ:CORZ) is scheduled to announce its quarterly earnings before the market opens on Wednesday, February 26. Analysts estimate the company will report an earnings loss of $0.10 per share, along with projected revenues of approximately $97.06 million for the period.

Market Performance of Core Scientific

As of Monday, NASDAQ CORZ opened at $10.80. The stock's 50-day moving average stands at $13.69, while its 200-day moving average is at $13.30. Core Scientific has a market capitalization of $3.02 billion and a price-to-earnings ratio of -2.00. Over the past year, the stock has experienced a low of $2.61 and a high of $18.63.

Analyst Insights and Ratings

Several analysts have shared their perspectives on Core Scientific’s stock, CORZ. Needham & Company LLC has maintained a "buy" rating, setting a target price of $18.00 for the shares as of January 17. Roth MKM began coverage on the company in a report from November 15, rating it as a "buy" with a price target of $25.50. In a report from November 14, Roth Capital raised their rating to "strong-buy." Meanwhile, HC Wainwright increased their price target from $15.00 to $17.00 and also listed it as a "buy" on November 7. BTIG Research further raised their target price from $19.00 to $20.00, also giving a "buy" rating on December 16. Overall, out of 16 research analysts, 15 have rated the stock as a buy, with one giving a strong buy rating, leading to a consensus rating of "Buy" and a target price of $19.07, according to MarketBeat.

Recent Insider Trading Activity

In other news regarding Core Scientific, insider Todd M. Duchene sold 129,861 shares on January 2 at an average price of $14.24, totaling approximately $1,849,220.64. Following this transaction, Duchene retains ownership of 2,051,649 shares valued at around $29,215,481.76, which is a 5.95% reduction in their position. Furthermore, CEO Adam Taylor Sullivan sold 369,712 shares on January 24 at an average price of $16.24, amounting to about $6,004,122.88. After the sale, he possesses 3,758,793 shares worth $61,042,798.32, reflecting an 8.96% decrease in his holdings. Collectively, insiders have sold 614,032 shares, totaling $9,534,916 in value over the last quarter, with insider ownership currently standing at 32.00% of the company’s stock.

About Core Scientific

Core Scientific, Inc. is a leading provider of digital asset mining services in North America. The company operates two main segments: Mining and Hosting. It offers various blockchain infrastructure and software solutions, alongside operating data center mining facilities. Not only does Core Scientific mine digital assets for its account, but it also provides hosting services to other large bitcoin miners, which includes deployment, monitoring, troubleshooting, optimization, and maintenance of their digital asset mining equipment.

Earnings, Stocks, CoreScientific