Core Scientific (NASDAQ:CORZ) Announces Earnings Results, Beats Estimates By $0.69 EPS

Core Scientific (NASDAQ:CORZ) announced its quarterly earnings data on Monday. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69, FiscalAI reports. The business had revenue of $79.76 million during the quarter, compared to analysts’ expectations of $118.45 million.

Core Scientific Price Performance

Shares of NASDAQ:CORZ traded down $0.48 during mid-day trading on Monday, reaching $16.49. 14,143,941 shares of the company traded hands, compared to its average volume of 11,045,892. The company’s 50 day moving average price is $17.26 and its 200-day moving average price is $16.94. The firm has a market cap of $5.11 billion, a PE ratio of 109.94 and a beta of 6.86. Core Scientific has a 52 week low of $6.20 and a 52 week high of $23.63.

Institutional Trading of Core Scientific

Hedge funds and other institutional investors have recently modified their holdings of the company. Xponance LLC lifted its stake in shares of Core Scientific by 2.5% during the 4th quarter. Xponance LLC now owns 22,896 shares of the company’s stock valued at $333,000 after buying an additional 562 shares in the last quarter. Orion Porfolio Solutions LLC lifted its position in shares of Core Scientific by 5.2% in the third quarter. Orion Porfolio Solutions LLC now owns 15,539 shares of the company’s stock valued at $279,000 after acquiring an additional 766 shares in the last quarter. Bank of Montreal Can raised its position in shares of Core Scientific by 4.2% during the fourth quarter. Bank of Montreal Can now owns 21,592 shares of the company’s stock valued at $314,000 after buying an additional 869 shares during the last quarter. Allworth Financial LP lifted its stake in Core Scientific by 206.5% in the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after purchasing an additional 950 shares in the last quarter. Finally, Pathstone Holdings LLC boosted its holdings in shares of Core Scientific by 1.3% during the 3rd quarter. Pathstone Holdings LLC now owns 76,094 shares of the company’s stock valued at $1,365,000 after purchasing an additional 967 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CORZ. Sanford C. Bernstein upped their price target on Core Scientific from $17.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Citizens Jmp upgraded shares of Core Scientific from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Thursday, December 18th. Keefe, Bruyette & Woods upped their price target on Core Scientific from $19.00 to $25.00 and gave the company a “moderate buy” rating in a report on Tuesday, January 27th. Zacks Research upgraded shares of Core Scientific from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 13th. Finally, BTIG Research upgraded Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Core Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $24.47.

About Core Scientific

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.