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

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

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

Core Scientific Price Performance

Shares of NASDAQ:CORZ opened at $10.14 on Tuesday. Core Scientific has a 1-year low of $2.61 and a 1-year high of $18.63. The company has a market capitalization of $2.83 billion and a P/E ratio of -1.87. The firm’s 50 day simple moving average is $13.12 and its two-hundred day simple moving average is $13.34.

Insider Buying and Selling

In related news, insider Todd M. Duchene sold 25,277 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $410,498.48. Following the sale, the insider now owns 2,023,423 shares in the company, valued at approximately $32,860,389.52. The trade was a 1.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Adam Taylor Sullivan sold 88,380 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the completion of the sale, the chief executive officer now owns 4,128,505 shares in the company, valued at $58,789,911.20. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 614,032 shares of company stock worth $9,534,916. Insiders own 32.00% of the company’s stock.

Analyst Upgrades and Downgrades

CORZ has been the topic of several analyst reports. Keefe, Bruyette & Woods initiated coverage on shares of Core Scientific in a report on Monday, January 27th. They set an “outperform” rating and a $22.00 price target on the stock. Craig Hallum initiated coverage on shares of Core Scientific in a report on Tuesday, January 21st. They set a “buy” rating and a $24.00 price target on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 price target on shares of Core Scientific in a report on Thursday, February 27th. Roth Mkm started coverage on shares of Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 price target on the stock. Finally, Compass Point reduced their price objective on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Core Scientific currently has a consensus rating of “Buy” and a consensus 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.