FY2024 EPS Estimates for Core Scientific Lifted by B. Riley

Core Scientific, Inc. (NASDAQ:CORZ - Free Report) - Research analysts at B. Riley boosted their FY2024 earnings per share estimates for Core Scientific in a research report issued on Wednesday, February 12th. B. Riley analyst N. Giles now anticipates that the company will earn ($0.06) per share for the year, up from their prior estimate of ($0.09). B. Riley currently has a "Buy" rating and a $17.00 target price on the stock. The consensus estimate for Core Scientific's current full-year earnings is $0.50 per share. B. Riley also issued estimates for Core Scientific's Q4 2024 earnings at ($0.08) EPS and FY2025 earnings at ($0.09) EPS.

CORZ has been the topic of several other research reports. Keefe, Bruyette & Woods initiated coverage on Core Scientific in a report on Monday, January 27th. They issued an "outperform" rating and a $22.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and issued a $18.00 target price on shares of Core Scientific in a report on Friday, January 17th. Jefferies Financial Group initiated coverage on Core Scientific in a report on Monday, October 28th. They issued a "buy" rating and a $19.00 target price on the stock. HC Wainwright increased their target price on Core Scientific from $15.00 to $17.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $17.00 target price on shares of Core Scientific in a report on Thursday, November 7th. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Core Scientific presently has a consensus rating of "Buy" and an average price target of $19.07.

Core Scientific Stock Performance

Shares of Core Scientific stock traded down $0.13 during trading hours on Friday, reaching $12.38. 5,392,107 shares of the company were exchanged, compared to its average volume of 10,796,601. The firm has a market cap of $3.46 billion and a PE ratio of -2.29. The stock's fifty day moving average is $14.00 and its 200 day moving average is $13.23. Core Scientific has a 1 year low of $2.61 and a 1 year high of $18.63.

Institutional Investors Weigh In On Core Scientific

Hedge funds have recently made changes to their positions in the business. FMR LLC lifted its position in Core Scientific by 2,937.7% in the fourth quarter. FMR LLC now owns 7,436,229 shares of the company's stock valued at $104,479,000 after purchasing an additional 7,191,428 shares during the period. Vanguard Group Inc. lifted its position in Core Scientific by 54.3% in the fourth quarter. Vanguard Group Inc. now owns 19,378,652 shares of the company's stock valued at $272,270,000 after purchasing an additional 6,819,406 shares during the period. Helix Partners Management LP acquired a new stake in Core Scientific in the fourth quarter valued at about $86,498,000. Driehaus Capital Management LLC lifted its position in Core Scientific by 112.1% in the fourth quarter. Driehaus Capital Management LLC now owns 10,264,204 shares of the company's stock valued at $144,212,000 after purchasing an additional 5,424,901 shares during the period. Finally, Fred Alger Management LLC acquired a new stake in Core Scientific in the fourth quarter valued at about $62,011,000.

Insider Transactions at Core Scientific

In other news, insider Todd M. Duchene sold 25,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total transaction of $427,500.00. Following the completion of the sale, the insider now owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. This represents a 1.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam Taylor Sullivan sold 88,380 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the sale, the chief executive officer now owns 4,128,505 shares of the company's stock, valued at $58,789,911.20. This trade represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 744,032 shares of company stock worth $11,863,966. Company insiders own 32.00% of the company's stock.

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.