Core Scientific Stock Edges Up Ahead Of Q4 Results As Wall Street Expects Losses To Narrow – But Retail’s Still Feeling Bearish

Shares of Core Scientific Inc. (CORZ) gained over 2% in after-market hours ahead of the company’s fourth-quarter results. Wall Street expects the Bitcoin miner to trim its losses, even though revenue is projected to decline during the quarter.

Data from Stocktwits shows Core Scientific is expected to report a loss of $0.09 per share in Q4, significantly down from a loss of $0.51 per share during the same period last year.

On the other hand, Core Scientific’s Q4 revenue is expected to decline significantly to $99.28 million from $141.93 million a year ago, implying a fall of 30%.

In a recent analyst note, Compass Point trimmed its price target for the Core Scientific stock to $20 from $26, implying an upside of 105% from Tuesday’s close. It maintained a ‘Buy’ rating, according to The Fly.

The brokerage noted that the 30% selloff in the stock year-to-date presents a “significant buying opportunity,” even as it slashed its price target.

The average price target across brokerages is currently at $20.60, according to FinChat data, implying a similar upside as suggested by Compass Point analysts.

Of the 16 brokerage recommendations, 11 have a ‘Buy’ rating and four have an ‘Outperform’ rating, while one suggests investors to ‘Hold’ the stock.

Core Scientific has missed EPS estimates in three of the last four quarters, but it has surpassed revenue expectations in three of those quarters.

On Stocktwits, retail sentiment around the Core Scientific stock remained ‘bearish’ (43/100) as investors exercised caution despite a bullish outlook from analysts.

However, one user posted a technical analysis of the stock to express their optimism.

Core Scientific stock has nearly tripled over the past 12 months, with gains of over 192%.

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