FY2024 EPS Estimates for Core Scientific Boosted by B. Riley

Core Scientific, Inc. (NASDAQ:CORZ) – Analysts at B. Riley raised their FY2024 earnings per share (EPS) estimates for Core Scientific in a research note issued to investors on Wednesday, February 12th. B. Riley analyst N. Giles now forecasts that the company will post earnings per share of ($0.06) 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.

A number of other analysts have also commented on the company. Macquarie lifted their price objective on Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Roth Mkm started coverage on Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 target price on the stock. Craig Hallum started coverage on Core Scientific in a report on Tuesday, January 21st. They set a “buy” rating and a $24.00 target price on the stock. Roth Capital upgraded Core Scientific to a “strong-buy” rating in a report on Thursday, November 14th. Finally, HC Wainwright raised their target price on Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $19.07.

Core Scientific Stock Up 3.7 %

Shares of CORZ stock opened at $12.54 on Friday. The stock has a 50-day moving average price of $14.25 and a 200 day moving average price of $13.14. The firm has a market cap of $3.50 billion and a price-to-earnings ratio of -2.32. Core Scientific has a 12 month low of $2.61 and a 12 month high of $18.63.

Insiders Place Their Bets

In other Core Scientific news, CEO Adam Taylor Sullivan sold 369,712 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the completion of the transaction, the chief executive officer now owns 3,758,793 shares of the company’s stock, valued at $61,042,798.32. This represents a 8.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Todd M. Duchene sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total value of $427,500.00. Following 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 position. The disclosure for this sale can be found here. Insiders sold a total of 744,032 shares of company stock valued at $11,863,966 in the last quarter. 32.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Shields & Co. LLC acquired a new position in Core Scientific in the 4th quarter valued at $26,000. First Horizon Advisors Inc. acquired a new position in Core Scientific in the 4th quarter valued at $34,000. Newbridge Financial Services Group Inc. acquired a new position in Core Scientific in the 4th quarter valued at $42,000. Vestcor Inc acquired a new position in Core Scientific in the 4th quarter valued at $66,000. Finally, US Bancorp DE acquired a new position in Core Scientific in the 4th quarter valued at $99,000.

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.