FY2024 EPS Estimates for Core Scientific Cut by Analyst

Core Scientific, Inc. (NASDAQ:CORZ) – B. Riley cut their FY2024 EPS estimates for Core Scientific in a research report issued on Thursday, November 7th. B. Riley analyst L. Pipes now anticipates that the company will earn ($0.08) per share for the year, down from their previous estimate of $0.01. B. Riley has a “Buy” rating and a $17.00 price target on the stock. The consensus estimate for Core Scientific’s current full-year earnings is $0.81 per share. B. Riley also issued estimates for Core Scientific’s Q4 2024 earnings at ($0.10) EPS, FY2025 earnings at ($0.21) EPS and FY2026 earnings at $0.16 EPS.

A number of other equities analysts have also commented on CORZ. Jefferies Financial Group began coverage on Core Scientific in a report on Monday, October 28th. They issued a “buy” rating and a $19.00 price target for the company. Compass Point lifted their price objective on Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Needham & Company LLC upped their target price on Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price objective on shares of Core Scientific in a report on Thursday, October 3rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research note on Thursday. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Core Scientific presently has a consensus rating of “Buy” and an average target price of $17.21.

Core Scientific Stock Up 3.0 %

NASDAQ CORZ opened at $16.96 on Monday. The firm’s 50-day simple moving average is $12.34 and its two-hundred day simple moving average is $9.48. The company has a market cap of $4.74 billion and a PE ratio of -3.13. Core Scientific has a 52 week low of $2.61 and a 52 week high of $17.01.

Insider Activity

In related news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.41, for a total transaction of $82,356.32. Following the transaction, the chief financial officer now owns 122,217 shares in the company, valued at $1,150,061.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Core Scientific news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $82,356.32. Following the transaction, the chief financial officer now directly owns 122,217 shares of the company’s stock, valued at approximately $1,150,061.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Todd M. Duchene sold 11,582 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.41, for a total transaction of $108,986.62. Following the completion of the sale, the insider now directly owns 1,686,474 shares of the company’s stock, valued at approximately $15,869,720.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 12,761 shares of company stock valued at $127,080. Insiders own 32.00% of the company’s stock.

Hedge Funds Weigh In On Core Scientific

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Highland Peak Capital LLC lifted its position in Core Scientific by 37.9% during the 3rd quarter. Highland Peak Capital LLC now owns 413,584 shares of the company’s stock valued at $4,905,000 after acquiring an additional 113,584 shares during the period. Intech Investment Management LLC bought a new position in shares of Core Scientific during the third quarter valued at approximately $315,000. Natixis Advisors LLC purchased a new position in shares of Core Scientific during the third quarter valued at approximately $252,000. Regal Partners Ltd boosted its position in shares of Core Scientific by 71.5% in the 3rd quarter. Regal Partners Ltd now owns 996,551 shares of the company’s stock worth $11,819,000 after purchasing an additional 415,363 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Core Scientific by 41.5% in the 3rd quarter. Victory Capital Management Inc. now owns 26,633 shares of the company’s stock worth $316,000 after buying an additional 7,814 shares during the last quarter.

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.