Core Scientific (CORZ) Expected to Announce Quarterly Earnings on Tuesday

Core Scientific (NASDAQ:CORZ) is projected 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 are interested in registering for the company’s conference call can do so using this link.

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

Core Scientific Stock Performance

CORZ stock opened at $7.78 on Friday. Core Scientific has a 1 year low of $2.61 and a 1 year high of $18.63. The stock’s 50 day moving average price is $12.65 and its 200 day moving average price is $13.28. The firm has a market cap of $2.29 billion, a P/E ratio of -1.44 and a beta of 6.83.

Insiders Place Their Bets

In other news, insider Todd M. Duchene sold 129,861 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total transaction of $1,849,220.64. Following the transaction, the insider now directly owns 2,051,649 shares of the company’s stock, valued at approximately $29,215,481.76. The trade was a 5.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the transaction, the chief executive officer now directly owns 3,758,793 shares in the company, valued at approximately $61,042,798.32. The trade was a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 748,282 shares of company stock worth $10,978,104 over the last ninety days. 32.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

CORZ has been the topic of a number of recent research reports. Macquarie upped their target price on Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Compass Point reduced their price target on Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Canaccord Genuity Group reissued a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research note on Thursday, February 27th. HC Wainwright reissued a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research note on Thursday, February 27th. Finally, Craig Hallum began coverage on Core Scientific in a research note on Tuesday, January 21st. They set a “buy” rating and a $24.00 price target on the stock. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Core Scientific presently 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.