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

Core Scientific (NASDAQ:CORZ) is anticipated to announce its earnings results before the market opens on Wednesday, February 26th. Analysts expect the company to announce earnings of ($0.10) per share and revenue of $97.06 million for the quarter.

Core Scientific Trading Down 8.8 %

NASDAQ CORZ opened at $10.80 on Monday. The stock’s 50 day moving average is $13.69 and its two-hundred day moving average is $13.30. The company has a market capitalization of $3.02 billion and a price-to-earnings ratio of -2.00. Core Scientific has a 1-year low of $2.61 and a 1-year high of $18.63.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CORZ shares. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Core Scientific in a report on Friday, January 17th. Roth Mkm started coverage on Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 price objective on the stock. Roth Capital raised Core Scientific to a “strong-buy” rating in a report on Thursday, November 14th. HC Wainwright lifted their target price on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, BTIG Research lifted their target price on shares of Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $19.07.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 129,861 shares of the company’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 completion of the sale, the insider now owns 2,051,649 shares in the company, valued at approximately $29,215,481.76. The trade was a 5.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the sale, the chief executive officer now owns 3,758,793 shares of the company’s stock, valued at $61,042,798.32. The trade was a 8.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 614,032 shares of company stock worth $9,534,916 in the last quarter. Insiders own 32.00% of the company’s stock.

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.