Core Scientific (NASDAQ:CORZ) Rating Reiterated by Cantor Fitzgerald

Core Scientific (NASDAQ:CORZ)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a research note issued on Tuesday, Benzinga reports. They presently have a $20.00 target price on the stock. Cantor Fitzgerald’s price target points to a potential upside of 108.99% from the stock’s current price.

Several other brokerages have also recently commented on CORZ. Sanford C. Bernstein started coverage on shares of Core Scientific in a research report on Wednesday, July 10th. They set an “outperform” rating and a $17.00 price target on the stock. B. Riley upgraded shares of Core Scientific from a “neutral” rating to a “buy” rating and raised their price target for the stock from $0.50 to $13.00 in a research report on Wednesday, July 17th. BTIG Research raised their price target on Core Scientific from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. LADENBURG THALM/SH SH restated a “buy” rating and set a $14.50 price objective on shares of Core Scientific in a research note on Tuesday, July 2nd. Finally, HC Wainwright raised their target price on Core Scientific from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Core Scientific currently has a consensus rating of “Buy” and a consensus target price of $14.71.

Core Scientific Price Performance

Shares of NASDAQ CORZ traded down $0.75 on Tuesday, hitting $9.57. The company had a trading volume of 5,357,401 shares, compared to its average volume of 8,185,369. The business has a 50 day moving average of $9.98 and a two-hundred day moving average of $6.38. Core Scientific has a 12-month low of $2.61 and a 12-month high of $12.25.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The firm had revenue of $141.10 million during the quarter, compared to analyst estimates of $128.58 million. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities analysts anticipate that Core Scientific will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Core Scientific news, Director Jarrod M. Patten purchased 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were purchased at an average cost of $9.70 per share, with a total value of $38,800.00. Following the completion of the transaction, the director now owns 279,239 shares of the company’s stock, valued at $2,708,618.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Core Scientific news, insider Todd M. Duchene sold 3,770 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $9.99, for a total transaction of $37,662.30. Following the transaction, the insider now directly owns 393,428 shares of the company’s stock, valued at $3,930,345.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jarrod M. Patten purchased 4,000 shares of Core Scientific stock in a transaction on Wednesday, August 28th. The stock was bought at an average cost of $9.70 per share, with a total value of $38,800.00. Following the transaction, the director now directly owns 279,239 shares of the company’s stock, valued at $2,708,618.30. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 31,425 shares of company stock worth $297,749. 32.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Core Scientific

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barings LLC bought a new position in Core Scientific in the 1st quarter valued at $36,515,000. Vanguard Group Inc. bought a new stake in shares of Core Scientific during the first quarter worth $21,973,000. Kensico Capital Management Corp acquired a new position in shares of Core Scientific during the first quarter valued at $18,513,000. Van ECK Associates Corp bought a new position in Core Scientific in the second quarter valued at about $12,239,000. Finally, Vident Advisory LLC bought a new stake in Core Scientific during the 1st quarter worth about $4,047,000.

Core Scientific Company Profile

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.