Research Analysts Issue Forecasts for Core Scientific, Inc.’s FY2022 Earnings (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZGet Rating) – Equities research analysts at DA Davidson lowered their FY2022 earnings per share estimates for Core Scientific in a research note issued to investors on Thursday, September 15th. DA Davidson analyst C. Brendler now forecasts that the company will earn $0.82 per share for the year, down from their prior estimate of $0.83. The consensus estimate for Core Scientific’s current full-year earnings is $0.56 per share. DA Davidson also issued estimates for Core Scientific’s FY2023 earnings at $1.59 EPS.

CORZ has been the topic of a number of other research reports. Cowen lowered their target price on Core Scientific from $4.00 to $3.75 and set an “outperform” rating on the stock in a research note on Friday. Chardan Capital started coverage on Core Scientific in a research note on Friday, June 3rd. They issued a “buy” rating and a $8.00 target price on the stock. Cowen lowered their target price on Core Scientific from $4.00 to $3.75 and set an “outperform” rating on the stock in a research note on Friday. LADENBURG THALM/SH SH lowered their target price on Core Scientific from $18.75 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, May 31st. Finally, BTIG Research lowered their price target on Core Scientific from $18.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, June 3rd. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of 7.44.

Core Scientific Trading Down 10.4 %

Shares of CORZ opened at 1.80 on Monday. Core Scientific has a 52 week low of 1.40 and a 52 week high of 14.98. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s 50-day moving average price is 2.30 and its 200-day moving average price is 4.21.

Hedge Funds Weigh In On Core Scientific

A number of hedge funds have recently made changes to their positions in the company. Comerica Bank acquired a new position in shares of Core Scientific during the second quarter valued at approximately $10,251,000. State Street Corp raised its holdings in shares of Core Scientific by 445.4% during the second quarter. State Street Corp now owns 4,159,917 shares of the company’s stock valued at $6,198,000 after acquiring an additional 3,397,173 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Core Scientific during the first quarter valued at approximately $26,186,000. Vanguard Group Inc. acquired a new position in shares of Core Scientific during the first quarter valued at approximately $25,373,000. Finally, JGP Wealth Management LLC acquired a new position in shares of Core Scientific during the second quarter valued at approximately $4,341,000. Institutional investors and hedge funds own 20.65% of the company’s stock.

About Core Scientific

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Core Scientific, Inc provides net carbon-neutral blockchain infrastructure and digital asset mining solutions in North America. It operates in two segments, Equipment Sales and Hosting. It offers blockchain hosting services with deployment and provide power, racks, proprietary thermodynamic management, redundant connectivity, and 24/7 security, as well as its proprietary software platforms, such as Minder and MinderOS, which provides infrastructure management and custom firmware; and digital asset mining operation focuses on the generation of digital assets by solving complex cryptographic algorithms to validate transactions on specific digital asset network blockchains.

Further Reading

Earnings History and Estimates for Core Scientific (NASDAQ:CORZ)

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