Is Core Scientific Inc. (CORZ) A Good Investment?

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Core Scientific Inc. (NASDAQ:CORZ) finished Thursday with a subtraction of -$0.01 to close at $0.19, a downside of -5.85 percent. An average of 13,886,540 shares of common stock have been traded in the last five days. There was a gain of $0.0510 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 19,487,605 shares traded, while the 50-day average volume stands at 10,600,084.

CORZ stock has decreased by -80.00% in the last month. The company shares reached their 1-month lowest point of $0.1212 on 11/09/22. With the stock rallying to its 52-week high on 02/09/22, shares of the company touched a low of $0.12 and a high of $14.98 in 52 weeks. It has reached a new high 2 times so far this year and lost -98.28% or -$10.7617 in price. In spite of this, the price is down -98.74% from the 52-week high.


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Insider Transactions

CORZ stock investors should be aware that Core Scientific Inc. (CORZ) stock had its last reported insider trading activity 168 days ago on Jun 03. In this transaction, the insider spent $7,797,940. Chief Vision Officer, Feinstein Darin, disposed of 500,000 shares at a price of $3.07 on Jun 02. The insider now owns more than $1,535,000 worth of shares. Prior to that, Chief Vision Officer Feinstein Darin went on to Sale 1,016,174 shares at $3.16 each on Jun 01. An amount of $3,211,110 was transacted.

Valuation Metrics

Core Scientific Inc. (CORZ) has a trailing price-to-sales (P/S) ratio at 0.06, the price-to-book (PB) ratio at 0.15.

Financial Health

The quick ratio of Core Scientific Inc. for the three months ended June 29 was 1.00, and the current ratio was 1.00, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 2.16 and a total debt to equity ratio of 2.75 for the quarter ending June 29.

Earnings Surprise

For the three-month period that ended June 29, Core Scientific Inc. had $165.66 million in cash and short-term investments compared to $852.32 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$810.48 million in the quarter, while revenues of -$466.2 million were grew 100.0%. The analyst consensus anticipated Core Scientific Inc.’s latest quarter earnings to come in at $0.03 per share, but it turned out to be -$2.65, a -8,933.30% surprise. For the quarter, EBITDA amounted to -$201.85 million. Shareholders own equity worth $357.3 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Core Scientific Inc. (CORZ) price momentum. RSI 9-day as of the close on 17 November was 29.95%, suggesting the stock is oversold, with historical volatility in this time frame at 249.51%.

As of today, CORZ’s price is $0.2028 +37.14% or $0.0510 from its 5-day moving average. CORZ is currently trading -80.88% lower than its 20-day SMA and -88.96% lower than its 100-day SMA. However, the stock’s current price level is -90.90% below the SMA50 and -97.97% below the SMA200.

The stochastic %K and %D were 54.69% and 37.80%, respectively, and the average true range (ATR) was 0.0690. With the 14-day stochastic at 56.77% and the average true range at 0.0949, the RSI (14) stands at 27.72%. The stock has reached 0.0295 on the 9-day MACD Oscillator while the 14-day reading was at 0.0292.

Analyst Ratings

DA Davidson launched coverage on Core Scientific Inc. (NASDAQ: CORZ) in its analyst report released on October 24, 2022. The firm assigned the stock a Neutral rating. The consensus rating for Core Scientific Inc. (CORZ) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CORZ, while 6 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.

What is CORZ’s price target for the next 12 months?

Analysts predict a range of price targets between $0.22 and $5.00, with a median target of $0.25. Taking a look at these predictions, the average price target given by analysts for Core Scientific Inc. (CORZ) stock is $1.24.

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