Q1 2023 Earnings Estimate for Core Scientific, Inc. Issued By B. Riley (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZGet Rating) – Equities researchers at B. Riley cut their Q1 2023 earnings per share estimates for shares of Core Scientific in a report issued on Friday, August 12th. B. Riley analyst L. Pipes now expects that the company will earn $0.10 per share for the quarter, down from their prior estimate of $0.14. B. Riley has a “Buy” rating and a $7.00 price target on the stock. The consensus estimate for Core Scientific’s current full-year earnings is $0.69 per share. B. Riley also issued estimates for Core Scientific’s Q2 2023 earnings at $0.11 EPS, Q3 2023 earnings at $0.15 EPS, Q4 2023 earnings at $0.16 EPS, FY2023 earnings at $0.51 EPS, Q1 2024 earnings at $0.34 EPS, Q2 2024 earnings at $0.01 EPS and FY2024 earnings at $0.39 EPS.

A number of other analysts have also recently issued reports on CORZ. BTIG Research dropped their price objective on Core Scientific from $18.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, June 3rd. LADENBURG THALM/SH SH lowered their price target on Core Scientific from $18.75 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, May 31st. Cowen raised their price target on Core Scientific to $4.00 in a report on Monday. DA Davidson reduced their price objective on Core Scientific to $9.00 in a research report on Monday. Finally, Cowen initiated coverage on Core Scientific in a research report on Friday, June 24th. They set an “outperform” rating and a $3.10 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Core Scientific currently has a consensus rating of “Buy” and an average target price of 7.73.

Core Scientific Trading Down 3.6 %

Shares of CORZ opened at 2.97 on Monday. The stock’s 50-day simple moving average is 2.17 and its 200 day simple moving average is 5.33. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.95 and a quick ratio of 1.95. Core Scientific has a 52-week low of 1.40 and a 52-week high of 14.98.

Insider Buying and Selling

In related news, insider Darin Feinstein sold 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of 3.07, for a total transaction of 1,535,000.00. Following the transaction, the insider now directly owns 33,393,271 shares in the company, valued at approximately 102,517,341.97. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 2,074,147 shares of company stock worth $7,303,137 in the last ninety days. 32.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Core Scientific

Several institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank purchased a new stake in Core Scientific in the 2nd quarter worth approximately $10,251,000. State Street Corp lifted its holdings in Core Scientific by 445.4% in the 2nd quarter. State Street Corp now owns 4,159,917 shares of the company’s stock worth $6,198,000 after buying an additional 3,397,173 shares during the period. BlackRock Inc. purchased a new stake in Core Scientific in the 1st quarter worth approximately $26,186,000. Vanguard Group Inc. purchased a new stake in Core Scientific in the 1st quarter worth approximately $25,373,000. Finally, JGP Wealth Management LLC purchased a new position in shares of Core Scientific in the 2nd quarter valued at approximately $4,341,000.

Core Scientific Company Profile

(Get Rating)

Core Scientific, Inc provides net carbon-neutral blockchain infrastructure and digital asset mining solutions in North America. It operates in two segments, Equipment Sales and Hosting. It offers blockchain hosting services with deployment and provide power, racks, proprietary thermodynamic management, redundant connectivity, and 24/7 security, as well as its proprietary software platforms, such as Minder and MinderOS, which provides infrastructure management and custom firmware; and digital asset mining operation focuses on the generation of digital assets by solving complex cryptographic algorithms to validate transactions on specific digital asset network blockchains.

Read More

Earnings History and Estimates for Core Scientific (NASDAQ:CORZ)

Receive News & Ratings for Core Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Core Scientific and related companies with MarketBeat.com's FREE daily email newsletter.