FY2024 EPS Estimates for Core Scientific Lifted by B. Riley

Core Scientific, Inc. (NASDAQ:CORZ) – Research analysts at B. Riley lifted their FY2024 earnings per share estimates for shares of Core Scientific in a report issued on Wednesday, February 12th. B. Riley analyst N. Giles now forecasts that the company will earn ($0.06) per share for the year, up from their previous estimate of ($0.09). B. Riley 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 $0.50 per share. B. Riley also issued estimates for Core Scientific’s Q4 2024 earnings at ($0.08) EPS and FY2025 earnings at ($0.09) EPS.

Several other analysts have also commented on CORZ. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of Core Scientific in a report on Friday, January 17th. BTIG Research increased their price objective on Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, December 16th. Jefferies Financial Group initiated coverage on Core Scientific in a research note on Monday, October 28th. They issued a “buy” rating and a $19.00 target price for the company. Macquarie raised their target price on Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Finally, HC Wainwright raised their target price on Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $19.07.

Core Scientific Trading Down 0.2 %

Shares of CORZ opened at $12.51 on Friday. Core Scientific has a 12 month low of $2.61 and a 12 month high of $18.63. The stock has a fifty day moving average price of $14.07 and a 200-day moving average price of $13.18. The firm has a market cap of $3.49 billion and a PE ratio of -2.31.

Insider Buying and Selling at Core Scientific

In other news, insider Todd M. Duchene sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. Following the sale, the insider now directly owns 1,661,474 shares in the company, valued at $28,411,205.40. This trade represents a 1.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $6,004,122.88. Following the sale, the chief executive officer now owns 3,758,793 shares in the company, valued at $61,042,798.32. This trade represents a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 744,032 shares of company stock worth $11,863,966. Insiders own 32.00% of the company’s stock.

Institutional Investors Weigh In On Core Scientific

Several institutional investors have recently bought and sold shares of the company. Xponance Inc. boosted its holdings in Core Scientific by 7.9% in the 4th quarter. Xponance Inc. now owns 12,800 shares of the company’s stock worth $180,000 after buying an additional 937 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Core Scientific by 6.8% in the 4th quarter. Ameritas Investment Partners Inc. now owns 18,658 shares of the company’s stock worth $262,000 after buying an additional 1,185 shares during the last quarter. Wellington Shields & Co. LLC acquired a new stake in Core Scientific in the 4th quarter worth about $26,000. First Horizon Advisors Inc. acquired a new stake in Core Scientific in the 4th quarter worth about $34,000. Finally, Joel Isaacson & Co. LLC boosted its holdings in Core Scientific by 4.5% in the 4th quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company’s stock worth $815,000 after buying an additional 2,500 shares during the last quarter.

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.