Core Scientific (CORZ) Projected to Post Quarterly Earnings on Tuesday

Core Scientific (NASDAQ:CORZ - Get Free Report) is projected to announce its earnings results before the market opens on Tuesday, March 11th. Analysts expect the company to announce earnings of ($0.06) per share and revenue of $97.06 million for the quarter. Parties that are interested in registering for the company's conference call can do so using this link.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.09. The company had revenue of $94.93 million for the quarter, compared to analyst estimates of $97.07 million.

Core Scientific Price Performance

Shares of NASDAQ:CORZ traded down $0.07 during trading on Friday, reaching $7.78. The company had a trading volume of 31,779,191 shares, compared to its average volume of 10,491,189. Core Scientific has a fifty-two week low of $2.61 and a fifty-two week high of $18.63. The stock's fifty day moving average price is $12.78 and its 200 day moving average price is $13.28. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -1.44 and a beta of 6.83.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Compass Point reduced their price objective on shares of Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. HC Wainwright restated a "buy" rating and issued a $17.00 price target on shares of Core Scientific in a report on Thursday, February 27th. Cantor Fitzgerald lowered their target price on Core Scientific from $24.00 to $21.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Needham & Company LLC decreased their price objective on shares of Core Scientific from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $17.00 target price on shares of Core Scientific in a research report on Thursday, February 27th. Fifteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $19.07.

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Insider Activity at Core Scientific

In related news, Director Jordan Levy purchased 62,500 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the transaction, the director now directly owns 306,887 shares of the company's stock, valued at $2,458,164.87. This trade represents a 25.57 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Todd A. Becker sold 134,250 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.75, for a total transaction of $1,443,187.50. Following the sale, the director now directly owns 195,687 shares of the company's stock, valued at $2,103,635.25. This represents a 40.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 748,282 shares of company stock valued at $10,978,104 over the last ninety days. Insiders own 32.00% of the company's stock.

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.