Core Scientific (NASDAQ:CORZ) Issues Quarterly Earnings Results, Misses Expectations By $1.04 EPS

Core Scientific (NASDAQ:CORZ) released its earnings results on Wednesday. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($1.04), FiscalAI reports. The company had revenue of $115.24 million during the quarter, compared to analyst estimates of $117.04 million. During the same period in the prior year, the company earned $1.25 earnings per share. Core Scientific’s revenue for the quarter was up 44.9% compared to the same quarter last year.

Here are the key takeaways from Core Scientific’s conference call:

• Closed a $3.3 billion CoreWeave project bond at 7.75% (net proceeds ~$2.9 billion) with a lockbox structure, enabling corporate‑level deployment of proceeds and supporting roughly $2 billion of planned 2026 capex.
• Billing 243 MW today (≈$350M annualized GAAP colocation revenue), expects >450 MW by end of summer and the full 590 MW by early 2027, and raised CoreWeave cash gross profit target to 80–85%.
• Accelerating development by investing ahead of leases—securing land, labor and long‑lead equipment to hit 12–14 month RFS targets and pursue campus growth (Pecos and Muskogee paths to ~1.5 GW each).
• Pursuing behind‑the‑meter and natural gas options (lead time ~12–14 months) with a mix of ownership and PPAs and active permitting efforts, which enables expansion but adds regulatory and execution complexity.
• Bitcoin mining will continue winding down through the year (only one or two sites expected running by year‑end) after monetizing most holdings, shifting the business mix toward colocation.

Core Scientific Stock Performance

Core Scientific stock traded up $2.44 during mid-day trading on Wednesday, reaching $24.63. The stock had a trading volume of 39,169,850 shares, compared to its average volume of 14,489,662. Core Scientific has a fifty-two week low of $8.74 and a fifty-two week high of $25.01. The stock’s 50-day simple moving average is $17.66 and its 200-day simple moving average is $17.47. The firm has a market capitalization of $7.77 billion, a PE ratio of 21.05 and a beta of 5.45.

Key Headlines Impacting Core Scientific

Here are the key news stories impacting Core Scientific this week:

• Positive Sentiment: Acquisition to accelerate Oklahoma buildout — Core Scientific signed a deal to acquire Polaris DS LLC for ~$421M to add land, substation access and up to ~440 MW of gross power adjacent to its Muskogee campus, supporting the company’s plan to scale Muskogee to ~1.5 GW of gross power and speed delivery of high‑density colocation capacity for AI/HPC customers. This is a direct growth catalyst for future revenue from AI customers. Polaris Acquisition
• Positive Sentiment: Capital plan to fund AI colocation expansion — Company announcements and coverage indicate Core Scientific has raised or arranged major financing (~$3.3B reported) aimed at expanding AI/high‑density colocation capacity, which supports aggressive buildout plans and de‑risking of future capacity starts. Financing for Expansion
• Positive Sentiment: Strong market interest / options flow — Unusual activity: a large increase in call option buying (roughly 196k calls), signaling bullish speculative or hedged institutional interest ahead of/after the corporate announcements. (No direct link available in feed.)
• Neutral Sentiment: Corporate governance update — Appointment of Jorge Ray as Principal Accounting Officer (April 30) is a routine exec hire that may modestly affect investor confidence in financial controls but is not an immediate earnings driver. Accounting Officer Appointment
• Negative Sentiment: Q1 earnings miss — Core Scientific reported a wider-than-expected Q1 EPS loss (MarketBeat cites ($1.06) EPS vs. consensus ≈ ($0.02)) and revenue slightly below estimates ($115.2M vs $117.0M). The EPS miss is the main negative catalyst and explains near‑term selling pressure in some sessions. Q1 Release
• Negative Sentiment: Insider selling — Director/officer Todd M. Duchene sold 10,000 shares at an average of $20.86 (disclosed), a small but visible insider sale that can be interpreted negatively by some investors. SEC Form 4

Analysts Set New Price Targets

Several equities research analysts recently commented on CORZ shares. Wall Street Zen raised Core Scientific to a “sell” rating in a research note on Saturday, March 14th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Core Scientific in a research note on Tuesday, March 3rd. Canaccord Genuity Group raised their price objective on Core Scientific from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Needham & Company LLC raised Core Scientific from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, March 3rd. Finally, LADENBURG THALM/SH SH reduced their price objective on Core Scientific from $24.50 to $23.75 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.07.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $20.86, for a total value of $208,600.00. Following the completion of the sale, the insider owned 1,980,348 shares of the company’s stock, valued at approximately $41,310,059.28. This trade represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 50,000 shares of company stock valued at $933,400 over the last ninety days. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Value Aligned Research Advisors LLC bought a new stake in Core Scientific during the fourth quarter worth $117,786,000. Situational Awareness LP lifted its holdings in Core Scientific by 76.8% during the second quarter. Situational Awareness LP now owns 7,994,038 shares of the company’s stock worth $136,458,000 after acquiring an additional 3,472,460 shares during the period. JPMorgan Chase & Co. lifted its holdings in Core Scientific by 584.2% during the fourth quarter. JPMorgan Chase & Co. now owns 3,689,053 shares of the company’s stock worth $53,713,000 after acquiring an additional 3,149,859 shares during the period. Goodlander Investment Management LLC bought a new stake in Core Scientific during the second quarter worth $34,994,000. Finally, Northern Right Capital Management L.P. lifted its holdings in Core Scientific by 1,048.9% during the second quarter. Northern Right Capital Management L.P. now owns 1,723,422 shares of the company’s stock worth $29,419,000 after acquiring an additional 1,573,422 shares during the period.

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.