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

Shares of Core Scientific, Inc. (NASDAQ:CORZ) have received an average rating of “Buy” from the sixteen analysts that are presently covering the company, MarketBeat Ratings reports. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $19.07.

CORZ has been the subject of several analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $17.00 target price on shares of Core Scientific in a research report on Thursday, February 27th. Cantor Fitzgerald cut their target price on Core Scientific from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Roth Capital upgraded Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. B. Riley lifted their price objective on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC cut their price objective on Core Scientific from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, February 27th.

Insider Buying and Selling

In other news, Director Todd A. Becker sold 134,250 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.75, for a total value of $1,443,187.50. Following the sale, the director now directly owns 195,687 shares in the company, valued at $2,103,635.25. The trade was a 40.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Todd M. Duchene sold 25,277 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the sale, the insider now owns 2,023,423 shares in the company, valued at approximately $32,860,389.52. This trade represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 748,282 shares of company stock valued at $10,978,104 over the last three months. Company insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

Institutional investors have recently modified their holdings of the company. Wellington Shields & Co. LLC bought a new stake in shares of Core Scientific in the fourth quarter valued at about $26,000. First Horizon Advisors Inc. bought a new stake in shares of Core Scientific in the fourth quarter valued at about $34,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Core Scientific in the fourth quarter valued at about $42,000. Vestcor Inc bought a new stake in Core Scientific during the fourth quarter worth about $66,000. Finally, US Bancorp DE bought a new stake in Core Scientific during the fourth quarter worth about $99,000.

Core Scientific Price Performance

Core Scientific stock opened at $9.60 on Thursday. The company has a market capitalization of $2.82 billion, a PE ratio of -1.77 and a beta of 6.83. Core Scientific has a one year low of $2.61 and a one year high of $18.63. The business has a 50 day simple moving average of $12.91 and a 200 day simple moving average of $13.31.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.09. The company had revenue of $94.93 million for the quarter, compared to the consensus estimate of $97.07 million. Equities analysts anticipate that Core Scientific will post 0.52 earnings per share for the current fiscal year.

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.