Core Scientific, Inc. (NASDAQ:CORZ) to Post Q2 2024 Earnings of ($0.05) Per Share, HC Wainwright Forecasts

Core Scientific, Inc. (NASDAQ:CORZ) – Stock analysts at HC Wainwright lowered their Q2 2024 earnings per share (EPS) estimates for Core Scientific in a research note issued to investors on Tuesday, June 25th. HC Wainwright analyst K. Dede now anticipates that the company will post earnings of ($0.05) per share for the quarter, down from their prior estimate of ($0.04). HC Wainwright currently has a “Buy” rating and a $11.00 price target on the stock. The consensus estimate for Core Scientific’s current full-year earnings is ($0.17) per share. HC Wainwright also issued estimates for Core Scientific’s Q3 2024 earnings at ($0.20) EPS, Q4 2024 earnings at ($0.20) EPS and FY2024 earnings at ($0.80) EPS.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. The firm had revenue of $179.29 million during the quarter, compared to analysts’ expectations of $139.60 million.

Separately, BTIG Research increased their price objective on Core Scientific from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday.

Core Scientific Stock Performance

Shares of CORZ stock opened at $9.95 on Thursday. Core Scientific has a 1 year low of $2.61 and a 1 year high of $10.70. The stock’s 50 day simple moving average is $5.51 and its two-hundred day simple moving average is $3.66.

Institutional Trading of Core Scientific

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aspect Partners LLC acquired a new stake in shares of Core Scientific in the 1st quarter worth $29,000. Hexagon Capital Partners LLC acquired a new stake in shares of Core Scientific in the 1st quarter worth $34,000. Lindbrook Capital LLC acquired a new stake in shares of Core Scientific in the 1st quarter worth $65,000. Fiduciary Alliance LLC acquired a new stake in shares of Core Scientific in the 1st quarter worth $84,000. Finally, Dorsey & Whitney Trust CO LLC purchased a new position in Core Scientific in the 1st quarter worth $122,000.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 3,770 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $9.99, for a total transaction of $37,662.30. Following the sale, the insider now owns 393,428 shares of the company’s stock, valued at approximately $3,930,345.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 32.00% of the company’s stock.

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.