Roth Capital Predicts Lower Earnings for Core Scientific

Core Scientific, Inc. (NASDAQ:CORZ) – Stock analysts at Roth Capital cut their FY2025 earnings per share (EPS) estimates for shares of Core Scientific in a research report issued to clients and investors on Thursday, October 23rd. Roth Capital analyst D. Aftahi now forecasts that the company will earn ($0.38) per share for the year, down from their previous forecast of $1.89. Roth Capital has a “Buy” rating and a $23.50 price target on the stock. The consensus estimate for Core Scientific’s current full-year earnings is $0.52 per share.

Other research analysts have also issued research reports about the company. Zacks Research lowered Core Scientific from a “hold” rating to a “strong sell” rating in a research report on Friday, October 24th. Jefferies Financial Group set a $24.00 price target on Core Scientific and gave the company a “buy” rating in a research report on Tuesday. Needham & Company LLC lowered Core Scientific from a “moderate buy” rating to a “hold” rating and set a $18.00 price target for the company. in a research report on Thursday, July 10th. B. Riley raised Core Scientific from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Wednesday, October 22nd. Finally, Compass Point initiated coverage on Core Scientific in a research report on Monday, September 15th. They set a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $21.25.

Core Scientific Price Performance

CORZ opened at $20.09 on Monday. The business has a 50 day simple moving average of $16.65 and a two-hundred day simple moving average of $13.53. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 133.94 and a beta of 6.58. Core Scientific has a one year low of $6.20 and a one year high of $21.02.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Friday, October 24th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.39. The company had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $107.18 million.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CORZ. Situational Awareness LP bought a new position in Core Scientific during the 1st quarter valued at approximately $32,736,000. Clearline Capital LP increased its position in Core Scientific by 157.8% during the 1st quarter. Clearline Capital LP now owns 5,403,963 shares of the company’s stock valued at $39,125,000 after buying an additional 3,308,100 shares in the last quarter. Marshall Wace LLP increased its position in Core Scientific by 416.0% during the 2nd quarter. Marshall Wace LLP now owns 3,098,737 shares of the company’s stock valued at $52,895,000 after buying an additional 2,498,186 shares in the last quarter. 59 North Capital Management LP bought a new position in Core Scientific during the 2nd quarter valued at approximately $35,990,000. Finally, Fred Alger Management LLC increased its position in Core Scientific by 46.7% during the 1st quarter. Fred Alger Management LLC now owns 6,473,552 shares of the company’s stock valued at $46,869,000 after buying an additional 2,059,985 shares in the last quarter.

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.