B. Riley Downgrades Core Scientific (NASDAQ:CORZ) to Hold

B. Riley cut shares of Core Scientific (NASDAQ:CORZ - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports. B. Riley also issued estimates for Core Scientific's FY2026 earnings at $0.15 EPS and FY2027 earnings at $0.39 EPS.

CORZ has been the subject of a number of other reports. Citizens Jmp upgraded Core Scientific to a "strong-buy" rating and set a $15.00 price objective for the company in a report on Thursday, May 22nd. Canaccord Genuity Group reissued a "buy" rating and set a $17.00 price objective on shares of Core Scientific in a report on Friday, June 27th. BTIG Research downgraded shares of Core Scientific from a "strong-buy" rating to a "hold" rating and set a $20.00 price target on the stock. in a research report on Monday. Roth Capital reiterated a "neutral" rating and issued a $20.00 target price on shares of Core Scientific in a research note on Tuesday. Finally, JMP Securities started coverage on Core Scientific in a research report on Thursday, May 22nd. They issued a "market outperform" rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.22.

Core Scientific Stock Performance

NASDAQ CORZ traded down $0.25 during mid-day trading on Wednesday, hitting $13.18. The stock had a trading volume of 26,593,066 shares, compared to its average volume of 13,935,298. Core Scientific has a 52-week low of $6.20 and a 52-week high of $18.63. The company has a 50 day simple moving average of $12.14 and a 200 day simple moving average of $11.14.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $79.53 million during the quarter, compared to analysts' expectations of $92.04 million. The firm's revenue was down 55.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 earnings per share. Sell-side analysts expect that Core Scientific will post 0.52 EPS for the current fiscal year.

Insider Transactions at Core Scientific

In other news, Director Yadin Rozov bought 110,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were bought at an average cost of $10.87 per share, with a total value of $1,195,700.00. Following the purchase, the director directly owned 475,687 shares in the company, valued at $5,170,717.69. This trade represents a 30.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Todd M. Duchene sold 60,000 shares of Core Scientific stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $11.33, for a total value of $679,800.00. Following the transaction, the insider directly owned 2,100,102 shares in the company, valued at approximately $23,794,155.66. This trade represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 117,759 shares of company stock worth $1,391,434 in the last three months. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Core Scientific

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Shields & Co. LLC acquired a new position in Core Scientific in the 4th quarter valued at $26,000. State of Wyoming acquired a new stake in shares of Core Scientific during the 1st quarter valued at about $34,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Core Scientific in the 1st quarter worth approximately $38,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Core Scientific in the 1st quarter worth about $50,000. Finally, CWM LLC raised its stake in shares of Core Scientific by 403.9% in the first quarter. CWM LLC now owns 8,092 shares of the company's stock valued at $59,000 after acquiring an additional 6,486 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.