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

Core Scientific (NASDAQ:CORZ) is expected to be announcing its earnings results 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. Persons interested in participating in the company’s earnings conference call can do so using this link.

Core Scientific Price Performance

CORZ stock opened at $9.86 on Tuesday. Core Scientific has a 1-year low of $2.61 and a 1-year high of $18.63. The business has a 50-day moving average price of $13.55 and a 200 day moving average price of $13.30. The company has a market capitalization of $2.75 billion and a P/E ratio of -1.82.

Insider Buying and Selling at Core Scientific

In other news, CEO Adam Taylor Sullivan sold 369,712 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $6,004,122.88. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Todd M. Duchene sold 129,861 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 2,051,649 shares of the company’s stock, valued at approximately $29,215,481.76. This represents a 5.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 614,032 shares of company stock worth $9,534,916. Insiders own 32.00% of the company’s stock.

Wall Street Analyst Weigh In

CORZ has been the subject of a number of analyst reports. B. Riley upped their target price on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. BTIG Research upped their price target on Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Craig Hallum started coverage on Core Scientific in a research report on Tuesday, January 21st. They issued a “buy” rating and a $24.00 price objective for the company. Roth Mkm initiated coverage on Core Scientific in a research report on Friday, November 15th. They set a “buy” rating and a $25.50 target price on the stock. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a report on Thursday, November 7th. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Core Scientific has a consensus rating of “Buy” and an average price target of $19.07.

Core Scientific Company Profile

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.