B. Riley Increases Earnings Estimates for Core Scientific

Core Scientific, Inc. (NASDAQ:CORZ - Free Report) - Research analysts at B. Riley lifted their FY2026 earnings estimates for Core Scientific in a note issued to investors on Wednesday, July 9th. B. Riley analyst N. Giles now expects that the company will post earnings per share of $0.15 for the year, up from their previous estimate of $0.09. B. Riley has a "Hold" rating on the stock. The consensus estimate for Core Scientific's current full-year earnings is $0.52 per share. B. Riley also issued estimates for Core Scientific's FY2027 earnings at $0.39 EPS.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $79.53 million for the quarter, compared to analysts' expectations of $92.04 million. The business's revenue was down 55.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share.

Several other equities analysts have also recently weighed in on the stock. Oppenheimer reaffirmed a "market perform" rating on shares of Core Scientific in a research note on Monday, July 7th. Roth Capital reiterated a "neutral" rating and set a $20.00 price objective on shares of Core Scientific in a research report on Tuesday, July 8th. Roth Mkm reiterated a "buy" rating and set a $20.00 price objective on shares of Core Scientific in a research report on Thursday, June 26th. Citigroup assumed coverage on shares of Core Scientific in a research report on Thursday, May 22nd. They set an "outperform" rating for the company. Finally, JMP Securities assumed coverage on shares of Core Scientific in a research report on Thursday, May 22nd. They set a "market outperform" rating and a $15.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.22.

Core Scientific Trading Down 5.1%

CORZ traded down $0.67 during trading on Thursday, hitting $12.51. 20,801,046 shares of the company traded hands, compared to its average volume of 13,977,601. The company has a market cap of $3.73 billion, a PE ratio of -2.49 and a beta of 6.71. The stock's 50-day simple moving average is $12.22 and its two-hundred day simple moving average is $11.07. Core Scientific has a 1 year low of $6.20 and a 1 year high of $18.63.

Institutional Investors Weigh In On Core Scientific

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Xponance Inc. lifted its holdings in Core Scientific by 7.9% during the 4th quarter. Xponance Inc. now owns 12,800 shares of the company's stock valued at $180,000 after buying an additional 937 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in Core Scientific by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 18,658 shares of the company's stock valued at $262,000 after buying an additional 1,185 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Core Scientific by 11.7% during the 1st quarter. Wellington Management Group LLP now owns 11,967 shares of the company's stock valued at $87,000 after buying an additional 1,256 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in Core Scientific by 17.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 10,391 shares of the company's stock valued at $75,000 after buying an additional 1,567 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in Core Scientific by 23.7% during the 1st quarter. US Bancorp DE now owns 8,682 shares of the company's stock valued at $63,000 after buying an additional 1,663 shares in the last quarter.

Insider Activity

In other news, Director Yadin Rozov bought 110,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was purchased at an average price of $10.87 per share, for a total transaction of $1,195,700.00. Following the acquisition, the director owned 475,687 shares of the company's stock, valued at $5,170,717.69. The trade was a 30.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Todd M. Duchene sold 7,759 shares of Core Scientific stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $12.39, for a total transaction of $96,134.01. Following the sale, the insider owned 2,049,689 shares of the company's stock, valued at $25,395,646.71. The trade was a 0.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 117,759 shares of company stock valued at $1,391,434 in the last 90 days. Company insiders own 1.40% of the company's stock.

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.