Core Scientific (NASDAQ:CORZ) Price Target Increased to $14.00 by Analysts at B. Riley

Core Scientific (NASDAQ:CORZ) had its target price boosted by B. Riley from $13.00 to $14.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s target price would suggest a potential upside of 9.29% from the company’s previous close.

CORZ has been the subject of a number of other reports. Sanford C. Bernstein reissued an “outperform” rating and set a $17.00 price target on shares of Core Scientific in a research report on Tuesday, September 10th. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price target on shares of Core Scientific in a report on Thursday, October 3rd. Canaccord Genuity Group assumed coverage on shares of Core Scientific in a research note on Monday, September 23rd. They set a “buy” rating and a $16.00 price objective for the company. Macquarie began coverage on shares of Core Scientific in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $16.00 target price on the stock. Finally, HC Wainwright upped their price objective on Core Scientific from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.27.

Core Scientific Trading Up 7.0 %

Shares of CORZ traded up $0.84 during mid-day trading on Friday, reaching $12.81. The company’s stock had a trading volume of 10,494,102 shares, compared to its average volume of 8,493,466. The company’s fifty day moving average price is $10.72 and its two-hundred day moving average price is $7.87. Core Scientific has a 52 week low of $2.61 and a 52 week high of $12.95.

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

Insiders Place Their Bets

In other Core Scientific news, Director Jarrod M. Patten acquired 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was purchased at an average price of $9.70 per share, for a total transaction of $38,800.00. Following the completion of the acquisition, the director now owns 279,239 shares of the company’s stock, valued at approximately $2,708,618.30. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Todd M. Duchene sold 11,582 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.41, for a total value of $108,986.62. Following the sale, the insider now directly owns 1,686,474 shares of the company’s stock, valued at $15,869,720.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jarrod M. Patten bought 4,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were bought at an average cost of $9.70 per share, with a total value of $38,800.00. Following the completion of the acquisition, the director now directly owns 279,239 shares of the company’s stock, valued at approximately $2,708,618.30. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 12,761 shares of company stock valued at $127,080 in the last ninety days. 32.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Core Scientific

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barings LLC acquired a new stake in Core Scientific in the first quarter valued at approximately $36,515,000. Vanguard Group Inc. acquired a new stake in shares of Core Scientific during the 1st quarter worth about $21,973,000. Kensico Capital Management Corp acquired a new stake in shares of Core Scientific in the first quarter valued at $18,513,000. Van ECK Associates Corp bought a new stake in shares of Core Scientific during the second quarter worth $12,239,000. Finally, Vident Advisory LLC bought a new stake in shares of Core Scientific during the 1st quarter valued at $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.