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

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

Core Scientific Trading Down 8.8 %

Shares of NASDAQ CORZ opened at $10.80 on Monday. The firm has a market cap of $3.02 billion and a PE ratio of -2.00. Core Scientific has a 1-year low of $2.61 and a 1-year high of $18.63. The company has a fifty day moving average price of $13.69 and a 200 day moving average price of $13.30.

Insider Activity

In other Core Scientific news, CEO Adam Taylor Sullivan sold 88,380 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,258,531.20. Following the transaction, the chief executive officer now directly owns 4,128,505 shares of the company’s stock, valued at $58,789,911.20. This represents a 2.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Todd M. Duchene sold 25,277 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $16.24, for a total transaction of $410,498.48. Following the completion of the transaction, the insider now directly owns 2,023,423 shares in the company, valued at approximately $32,860,389.52. This represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 614,032 shares of company stock valued at $9,534,916. 32.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Craig Hallum assumed coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They issued a “buy” rating and a $24.00 target price for the company. HC Wainwright upped their target price on shares of Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Core Scientific in a research note on Friday, January 17th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Core Scientific in a research note on Monday, January 27th. They set an “outperform” rating and a $22.00 price objective for the company. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Core Scientific presently has an average rating of “Buy” and an average price target of $19.07.

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.