Brokers Issue Forecasts for Core Scientific FY2027 Earnings

Core Scientific, Inc. (NASDAQ:CORZ - Free Report) - Investment analysts at B. Riley issued their FY2027 earnings estimates for Core Scientific in a note issued to investors on Monday, April 28th. B. Riley analyst N. Giles forecasts that the company will post earnings of $0.25 per share for the year. The consensus estimate for Core Scientific's current full-year earnings is $0.52 per share.

A number of other research analysts have also commented on the company. Cantor Fitzgerald decreased their price objective on Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Canaccord Genuity Group reiterated a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Wednesday, March 12th. Compass Point cut their target price on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Craig Hallum started coverage on shares of Core Scientific in a research report on Tuesday, January 21st. They set a "buy" rating and a $24.00 price target for the company. Finally, Needham & Company LLC cut their price objective on shares of Core Scientific from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Core Scientific currently has an average rating of "Buy" and an average target price of $19.07.

Core Scientific Price Performance

Shares of CORZ stock traded up $0.09 during trading hours on Wednesday, reaching $8.83. 4,793,790 shares of the company were exchanged, compared to its average volume of 12,839,979. The company has a market cap of $2.60 billion, a price-to-earnings ratio of -1.64 and a beta of 6.66. The stock's fifty day moving average is $8.05 and its two-hundred day moving average is $12.21. Core Scientific has a fifty-two week low of $3.29 and a fifty-two week high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.09. The business had revenue of $94.93 million during the quarter, compared to analyst estimates of $97.07 million.

Insider Activity at Core Scientific

In related news, Director Todd A. Becker sold 134,250 shares of Core Scientific stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.75, for a total value of $1,443,187.50. Following the sale, the director now owns 195,687 shares of the company's stock, valued at approximately $2,103,635.25. This trade represents a 40.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jordan Levy bought 62,500 shares of the business's stock in a transaction on Thursday, March 6th. The stock was purchased at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the purchase, the director now directly owns 306,887 shares in the company, valued at approximately $2,458,164.87. This represents a 25.57 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by insiders.

Institutional Trading of Core Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Shields & Co. LLC acquired a new stake in Core Scientific in the 4th quarter valued at $26,000. First Horizon Advisors Inc. bought a new stake in Core Scientific during the fourth quarter worth about $34,000. Emerald Mutual Fund Advisers Trust acquired a new position in Core Scientific during the first quarter valued at approximately $38,000. Newbridge Financial Services Group Inc. bought a new position in Core Scientific in the fourth quarter valued at approximately $42,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Core Scientific during the 1st quarter worth approximately $50,000.

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.