Core Scientific Inc (NASDAQ:CORZ) price on Thursday, January 16, rose 0.69% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $14.63.
A look at the stock’s price movement, the close in the last trading session was $14.53, moving within a range at $14.25 and $14.77. Turning to its 52-week performance, $18.63 and $2.61 were the 52-week high and 52-week low respectively. Overall, CORZ moved -5.92% over the past month.
Core Scientific Inc’s market cap currently stands at around $4.09 billion, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 97.79M for the company’s revenue for the quarter, with a low and high estimate of 82.93M and 109.25M respectively. The average forecast suggests down to a -31.10% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 510.62M, representing a 1.64% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CORZ is a 50% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
6 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 6 recommend CORZ as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CORZ’s current price about 1.44% and -6.08% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 48.99, while 7-day volatility ratio is 4.89% and 6.28% in the 30-day chart. Further, Core Scientific Inc (CORZ) has a beta value of 7.14, and an average true range (ATR) of 0.91. Analysts have given the company’s stock an average 52-week price target of $16, forecast between a low of $14 and high of $20. Looking at the price targets, the low is 4.31% off current price level while to achieve the yearly target high, price needs to move -36.71%. Nonetheless, investors will most likely welcome a -9.36% jump to $16 which is the analysts’ median price.
If we refocus on Core Scientific Inc (NASDAQ:CORZ), historical trading data shows that trading volumes averaged 8.62 over the past 10 days and 10.63 million over the past 3 months. The company’s latest data on shares outstanding shows there are 279.82 million shares.
The 13.63% of Core Scientific Inc’s shares are in the hands of company insiders while institutional holders own 62.30% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 44.67 million on 2024-12-31, giving us a short ratio of 3.78. Current price change has pushed the stock 4.13% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CORZ stock continues to rise going into the next quarter.
