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Core Scientific Stock: How CORZ Became The King Of Bitcoin

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The company provides a range of technical services that helps its clients test, inspect, plan, design, certify, and manage various projects across various end markets. Ahead of this earnings release, the estimate revisions trend for Atlas Technical Consultants, Inc. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 for the stock.

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Not only does this include current consensus earnings expectations for the coming quarter, but also how these expectations have changed lately. This quarterly report represents an earnings surprise of 187.50%. A quarter ago, it was expected that this company would post earnings of $0.07 per share when it actually produced earnings of $0.12, delivering a surprise of 71.43%. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer.

He was replaced by Michael Levitt, a veteran of the finance industry. Levitt co-founded the Financial Sponsors Group at Morgan Stanley, one of the bank’s largest operations today. He went on to become the Vice Chairman of Apollo Global Management ($472B in AUM) and then CEO of Kane Andersen Advisors ($41B in AUM). Atlas Technical Consultants has a short interest ratio (“days to cover”) of 1.3, which is generally considered an acceptable ratio of short interest to trading volume. Weiss Research, an investment research firm that rates cryptocurrencies, has given Bitcoin an overall rating of “B+”, a technology and adoption rating of “A-“, and a market performance rating of “D”. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook.

Bitcoin

There is no website visitor data available for this stock. Atlas Technical Consultants not providing financial guidance Given the Company’s pending acquisition by GI Partners, Atlas is not hosting a conference call to discuss its…

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It offers solutions to public and private sector clients in the transportation, commercial, water, government, education and industrial markets. The firm provides a broad range of mission-critical technical services, helping clients test, inspect, certify, plan, design and manage a wide variety of projects across diverse end markets. The company was founded btcx stocktwits on June 28, 2017 and is headquartered in Austin, Texas. Atlas Technical Consultants has received a consensus rating of Hold. The company’s average rating score is 2.25, and is based on 1 buy rating, 3 hold ratings, and no sell ratings. Bitcoin rising 25% in 2 weeks, and still over 10M shares sold short, this seems like an attractive entry point.

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TeraWulf went public at a valuation over $1B without having mined a singleBitcoin. Core Scientific acquired RADAR, a developer of software for decentralized finance. RADAR developed software that allowed users to trade cryptocurrency without the need for a centralized exchange, such as Coinbase .

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The pathway to an IPO was complicated by the fact that investment bankers were still largely apprehensive of cryptocurrencies at the time the company discussed going public. The US government was not yet implicitly supporting their development. Turner stepped down as CEO, given his aversion to the intense spotlight of a publicly traded company.

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The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the GMT month.

This is a higher news sentiment than the 0.42 average news sentiment score of Construction companies. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Engineering – R and D Services is currently in the bottom 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.04 on $155.9 million in revenues for the coming quarter and $0.26 on $608.7 million in revenues for the current fiscal year.

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Find exchange traded funds whose sector aligns with the same commodity grouping as the symbol you are viewing. Analysis of these related ETFs and how they are trading may provide insight to this commodity. The Barchart Technical Opinion rating is a 88% Buy with a Strongest short term outlook on maintaining the current direction. Live educational sessions using site features to explore today’s markets. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article.

  • I have conducted over $250M in VC transactions, and pioneered some of the first institutional investments in cryptocurrency.
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  • The monthly returns are then compounded to arrive at the annual return.

Today’s experimental DAOs might be tomorrow’s big tech. Sophisticated smart contracts could modernize our financial infrastructure. When the stealthy company planned its first large facility, a 100MW expansion in North Carolina, this was seen as audacious.

Atlas Technical Consultants has 37,721,054 shares outstanding. Right-click on the chart to open the Interactive Chart menu. For an ETF, this widget displays the top 10 constituents that make up the fund. This is based on the percent of the fund this stock’s assets represent. Highlights important summary options statistics to provide a forward looking indication of investors’ sentiment. For ETFs, this section includes key statistics on the fund, with a link to see more.

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So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here. Stocks are mostly lower midday despitebetter-than-expected economic growth.

For this reason, the company chose to go public through a BlackRock-backed SPAC merger, with Evercore and Barclays acting as advisors. Unlike many SPAC deals, the Core Scientific/XPDI merger was handled in a responsible way. The valuation left a lot of room for new investors to make money, and incentive for existing investors to stick around. Bitcoin mining has created a robust foundation that we anticipate will anchor the cryptocurrency ecosystem, with Core Scientific poised to provide industry leadership.

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Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. The company has topped consensus revenue estimates three times over the last four quarters.

I/we have a beneficial long position in the shares of CORZ either through stock ownership, options, or other derivatives. Perhaps most egregiously, it focused heavily on one of the early co-founders what he was doing in the 1990’s, as if this was somehow relevant. It attempted to link a Core Scientific to an obscure vendor known as “BitFuFu”, when in reality Core Scientific uses, supplies, and hosts Bitmain hardware almost exclusively. The report also suggested that Core Scientific “insiders” flipped a mining offshoot, Blockcap, at a self-serving valuation.

  • Atlas Technical Consultants reports Q4 adjusted EPS 7c, consensus 3c Reports Q4 revenue $151M, consensus $152.17M.
  • This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system.
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  • ‘Riot Blockchain’ had only narrowly escaped its fate as a failed biotech company called Bioptix.
  • I focus on the intersection of technology and business, drawing on the evolution of various industries for relevant insights.

4 Wall Street analysts have issued “buy,” “hold,” and “sell” ratings for Atlas Technical Consultants in the last twelve months. There are currently 3 hold ratings and 1 buy rating for the stock. The consensus among Wall Street analysts is that investors should “hold” ATCX shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in ATCX, but not buy additional shares or sell existing shares. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors.

The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities. Atlas Technical Consultants released its earnings results on Mar 16, 2023. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by -$0.01. Some of Core Scientific’s competitors have failed to draw a thorough distinction between nameplate capacity and actual operating infrastructure. Others have given wildly unrealistic guidance on expansion plans.

I have conducted over $250M in VC transactions, and pioneered some of the first institutional investments in cryptocurrency. I focus on the intersection of technology and business, drawing on the evolution of various industries https://www.beaxy.com/ for relevant insights. These are my personal thoughts and not investment advice. This company is expected to post quarterly earnings of $0.07 per share in its upcoming report, which represents a year-over-year change of -97.4%.

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