Q3 2022 EPS Estimates for Core Scientific, Inc. Cut by DA Davidson (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZGet Rating) – Analysts at DA Davidson lowered their Q3 2022 earnings estimates for Core Scientific in a research note issued on Thursday, September 15th. DA Davidson analyst C. Brendler now forecasts that the company will post earnings of $0.17 per share for the quarter, down from their previous forecast of $0.19. The consensus estimate for Core Scientific’s current full-year earnings is $0.56 per share.

CORZ has been the subject of a number of other reports. HC Wainwright assumed coverage on shares of Core Scientific in a report on Tuesday, September 6th. They issued a “buy” rating and a $5.00 price objective for the company. Chardan Capital assumed coverage on shares of Core Scientific in a report on Friday, June 3rd. They issued a “buy” rating and a $8.00 price objective for the company. LADENBURG THALM/SH SH lowered their price objective on shares of Core Scientific from $18.75 to $15.00 and set a “buy” rating for the company in a report on Tuesday, May 31st. Cowen decreased their target price on shares of Core Scientific from $4.00 to $3.75 and set an “outperform” rating on the stock in a research note on Friday. Finally, Cowen decreased their target price on shares of Core Scientific from $4.00 to $3.75 and set an “outperform” rating on the stock in a research note on Friday. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of 7.44.

Core Scientific Stock Down 10.4 %

Shares of CORZ opened at 1.80 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.99 and a current ratio of 0.99. Core Scientific has a fifty-two week low of 1.40 and a fifty-two week high of 14.98. The firm has a 50 day moving average price of 2.30 and a 200-day moving average price of 4.25.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CORZ. Ovata Capital Management Ltd purchased a new position in Core Scientific during the 1st quarter valued at $25,000. Tuttle Capital Management LLC purchased a new stake in shares of Core Scientific in the 2nd quarter worth about $25,000. First Republic Investment Management Inc. purchased a new stake in shares of Core Scientific in the 2nd quarter worth about $28,000. Legal & General Group Plc purchased a new stake in shares of Core Scientific in the 2nd quarter worth about $28,000. Finally, Integrated Investment Consultants LLC purchased a new stake in shares of Core Scientific in the 2nd quarter worth about $30,000. 20.65% of the stock is owned by hedge funds and other institutional investors.

Core Scientific Company Profile

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Core Scientific, Inc provides net carbon-neutral blockchain infrastructure and digital asset mining solutions in North America. It operates in two segments, Equipment Sales and Hosting. It offers blockchain hosting services with deployment and provide power, racks, proprietary thermodynamic management, redundant connectivity, and 24/7 security, as well as its proprietary software platforms, such as Minder and MinderOS, which provides infrastructure management and custom firmware; and digital asset mining operation focuses on the generation of digital assets by solving complex cryptographic algorithms to validate transactions on specific digital asset network blockchains.

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Earnings History and Estimates for Core Scientific (NASDAQ:CORZ)

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