HC Wainwright Predicts Stronger Earnings for Core Scientific

Core Scientific, Inc. (NASDAQ:CORZ) – Research analysts at HC Wainwright raised their Q4 2024 EPS estimates for Core Scientific in a note issued to investors on Thursday, November 7th. HC Wainwright analyst K. Dede now forecasts that the company will post earnings of ($0.12) per share for the quarter, up from their prior forecast of ($0.16). HC Wainwright currently has a “Buy” rating and a $17.00 target price on the stock. The consensus estimate for Core Scientific’s current full-year earnings is $0.76 per share. HC Wainwright also issued estimates for Core Scientific’s FY2025 earnings at ($0.29) EPS.

Other analysts have also recently issued reports about the company. Sanford C. Bernstein restated an “outperform” rating and issued a $17.00 target price on shares of Core Scientific in a research report on Tuesday, September 10th. Canaccord Genuity Group began coverage on Core Scientific in a research note on Monday, September 23rd. They issued a “buy” rating and a $16.00 price target for the company. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Thursday, November 7th. Compass Point lifted their target price on Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price objective on shares of Core Scientific in a report on Thursday, October 3rd. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Core Scientific presently has an average rating of “Buy” and a consensus target price of $17.21.

Core Scientific Stock Performance

Shares of NASDAQ:CORZ opened at $17.47 on Monday. The company has a market cap of $4.88 billion and a P/E ratio of -3.23. Core Scientific has a one year low of $2.61 and a one year high of $18.03. The business’s 50-day simple moving average is $12.34 and its 200 day simple moving average is $9.48.

Institutional Investors Weigh In On Core Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in shares of Core Scientific in the second quarter valued at about $28,000. Sunbelt Securities Inc. acquired a new position in Core Scientific in the second quarter valued at approximately $33,000. Rise Advisors LLC purchased a new position in Core Scientific in the second quarter worth approximately $65,000. Aspect Partners LLC purchased a new stake in Core Scientific in the first quarter valued at $29,000. Finally, Divisadero Street Capital Management LP acquired a new stake in shares of Core Scientific during the 2nd quarter worth about $93,000.

Insider Activity at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 11,582 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.41, for a total value of $108,986.62. Following the transaction, the insider now directly owns 1,686,474 shares of the company’s stock, valued at approximately $15,869,720.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Jarrod M. Patten purchased 4,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were purchased at an average cost of $9.70 per share, for a total transaction of $38,800.00. Following the completion of the acquisition, the director now owns 279,239 shares in the company, valued at approximately $2,708,618.30. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Todd M. Duchene sold 11,582 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.41, for a total transaction of $108,986.62. Following the completion of the sale, the insider now directly owns 1,686,474 shares of the company’s stock, valued at approximately $15,869,720.34. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased a total of 12,761 shares of company stock valued at $127,080 in the last 90 days. Corporate 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.