Core Scientific (NASDAQ:CORZ) Rating Lowered to Hold at B. Riley

B. Riley cut shares of Core Scientific (NASDAQ:CORZ - Free Report) from a strong-buy rating to a hold rating in a research note released on Wednesday morning,Zacks.com reports. B. Riley also issued estimates for Core Scientific's Q3 2025 earnings at $0.00 EPS, Q4 2025 earnings at $0.03 EPS, FY2026 earnings at $0.15 EPS and FY2027 earnings at $0.39 EPS.

Other research analysts also recently issued research reports about the stock. Roth Mkm reiterated a "buy" rating and set a $20.00 price target on shares of Core Scientific in a research report on Thursday, June 26th. Barclays lowered Core Scientific to an "underweight" rating in a research report on Tuesday, July 8th. JMP Securities began coverage on shares of Core Scientific in a research note on Thursday, May 22nd. They issued a "market outperform" rating and a $15.00 target price for the company. BTIG Research downgraded Core Scientific from a "strong-buy" rating to a "hold" rating and set a $20.00 price target for the company. in a report on Monday, July 7th. Finally, Citigroup started coverage on shares of Core Scientific in a report on Thursday, May 22nd. They set an "outperform" rating on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.22.

Core Scientific Stock Performance

Shares of CORZ stock traded down $0.67 during mid-day trading on Wednesday, reaching $12.51. The company's stock had a trading volume of 20,801,046 shares, compared to its average volume of 13,977,601. Core Scientific has a 1-year low of $6.20 and a 1-year high of $18.63. The company has a market cap of $3.73 billion, a P/E ratio of -2.49 and a beta of 6.71. The firm's 50-day moving average is $12.22 and its two-hundred day moving average is $11.07.

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

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 7,759 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $12.39, for a total transaction of $96,134.01. Following the completion of the sale, the insider owned 2,049,689 shares of the company's stock, valued at $25,395,646.71. This trade represents a 0.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Yadin Rozov bought 110,000 shares of Core Scientific stock in a transaction that occurred 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 acquisition, 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 position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 117,759 shares of company stock valued at $1,391,434. Corporate insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Core Scientific

Institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Shields & Co. LLC bought a new stake in Core Scientific in the 4th quarter valued at about $26,000. State of Wyoming acquired a new stake in shares of Core Scientific during the 1st quarter valued at $34,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Core Scientific during the first quarter worth about $38,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Core Scientific during the 1st quarter worth approximately $50,000. Finally, CWM LLC increased its holdings in 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 purchasing an additional 6,486 shares during the period.

Core Scientific Company Profile

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.