Core Scientific (CORZ) Projected to Post Quarterly Earnings on Wednesday

Core Scientific (NASDAQ:CORZ) is expected to be releasing its earnings data 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 Price Performance

Shares of NASDAQ:CORZ opened at $10.80 on Monday. Core Scientific has a one year low of $2.61 and a one year high of $18.63. The company has a 50 day moving average of $13.69 and a 200-day moving average of $13.30. The stock has a market cap of $3.02 billion and a price-to-earnings ratio of -2.00.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CORZ. Jefferies Financial Group began coverage on shares of Core Scientific in a research report on Monday, October 28th. They set a “buy” rating and a $19.00 price target for the company. Macquarie lifted their price target on shares of Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Roth Mkm began coverage on shares of Core Scientific in a research report on Friday, November 15th. They set a “buy” rating and a $25.50 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Core Scientific in a research report on Friday, January 17th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a report on Thursday, November 7th. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $19.07.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 129,861 shares of Core Scientific stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,849,220.64. Following the transaction, the insider now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Adam Taylor Sullivan sold 369,712 shares of Core Scientific stock in a transaction that occurred 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 completion of 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 614,032 shares of company stock valued at $9,534,916. 32.00% of the stock is currently owned by corporate insiders.

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.