Core Scientific, Inc. (NASDAQ:CORZ) Given Consensus Rating of “Buy” by Analysts

Core Scientific, Inc. (NASDAQ:CORZ) has earned an average recommendation of “Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat reports. Twelve investment analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $16.71.

A number of analysts recently issued reports on CORZ shares. Compass Point lifted their price target on shares of Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. B. Riley upped their target price on shares of Core Scientific from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Canaccord Genuity Group assumed coverage on Core Scientific in a research note on Monday, September 23rd. They issued a “buy” rating and a $16.00 price target for the company. Macquarie assumed coverage on Core Scientific in a research note on Wednesday, September 25th. They set an “outperform” rating and a $16.00 price objective on the stock. Finally, Needham & Company LLC lifted their target price on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd.

Core Scientific Price Performance

NASDAQ:CORZ opened at $13.29 on Friday. Core Scientific has a 1-year low of $2.61 and a 1-year high of $14.64. The firm has a 50-day moving average of $11.80 and a two-hundred day moving average of $8.88.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The business had revenue of $141.10 million during the quarter, compared to analysts’ expectations of $128.58 million. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, research analysts expect that Core Scientific will post 0.01 EPS for the current year.

Insider Activity at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 11,582 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was 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 in the company, valued at approximately $15,869,720.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Core Scientific news, Director Jarrod M. Patten bought 5,021 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $9.68 per share, for a total transaction of $48,603.28. Following the transaction, the director now directly owns 285,760 shares in the company, valued at $2,766,156.80. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Todd M. Duchene sold 11,582 shares of Core Scientific 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 in the company, valued at $15,869,720.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased 12,761 shares of company stock worth $127,080 in the last 90 days. 32.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CORZ. P Schoenfeld Asset Management LP acquired a new stake in Core Scientific in the second quarter worth about $4,185,000. Vanguard Group Inc. bought a new position in shares of Core Scientific in the first quarter valued at approximately $21,973,000. Hexagon Capital Partners LLC bought a new position in shares of Core Scientific in the first quarter valued at approximately $34,000. Blair William & Co. IL acquired a new position in shares of Core Scientific during the first quarter valued at approximately $1,156,000. Finally, DeepCurrents Investment Group LLC raised its holdings in Core Scientific by 157.7% during the second quarter. DeepCurrents Investment Group LLC now owns 255,162 shares of the company’s stock worth $2,373,000 after purchasing an additional 156,162 shares in the last quarter.

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.