Core Scientific (NASDAQ:CORZ) Receives New Coverage from Analysts at Canaccord Genuity Group

Canaccord Genuity Group initiated coverage on shares of Core Scientific (NASDAQ:CORZ) in a research report sent to investors on Monday, Marketbeat reports. The brokerage issued a buy rating and a $16.00 price objective on the stock.

A number of other equities analysts have also recently issued reports on the stock. LADENBURG THALM/SH SH reissued a buy rating and set a $14.50 price objective on shares of Core Scientific in a research report on Tuesday, July 2nd. Needham & Company LLC started coverage on Core Scientific in a report on Wednesday, September 4th. They issued a buy rating and a $16.00 price target on the stock. Cantor Fitzgerald reissued an overweight rating and issued a $20.00 price objective on shares of Core Scientific in a research note on Tuesday, September 3rd. BTIG Research upped their target price on Core Scientific from $10.00 to $15.00 and gave the stock a buy rating in a research report on Wednesday, June 26th. Finally, HC Wainwright lifted their price target on shares of Core Scientific from $11.00 to $15.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $15.18.

Core Scientific Trading Up 0.2 %

Shares of Core Scientific stock opened at $12.38 on Monday. The business has a 50-day moving average price of $10.31 and a two-hundred day moving average price of $7.26. Core Scientific has a 1-year low of $2.61 and a 1-year high of $12.95.

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

Insider Activity at Core Scientific

In other Core Scientific news, 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 transaction of $108,986.62. Following the transaction, the insider now directly owns 1,686,474 shares of the company’s stock, valued at approximately $15,869,720.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jarrod M. Patten acquired 4,000 shares of the firm’s stock in a transaction 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 purchase, the director now owns 279,239 shares in the company, valued at approximately $2,708,618.30. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Todd M. Duchene sold 11,582 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 1,686,474 shares in the company, valued at approximately $15,869,720.34. The disclosure for this sale can be found here. In the last three months, insiders purchased 12,761 shares of company stock valued at $127,080. 32.00% of the stock is owned by insiders.

Institutional Trading of Core Scientific

A number of institutional investors and hedge funds have recently modified their holdings of CORZ. Banque Cantonale Vaudoise purchased a new position in Core Scientific in the second quarter worth $28,000. Sunbelt Securities Inc. bought a new stake in shares of Core Scientific during the 2nd quarter worth $33,000. Rise Advisors LLC purchased a new position in shares of Core Scientific in the 2nd quarter worth about $65,000. Aspect Partners LLC bought a new position in Core Scientific during the first quarter valued at about $29,000. Finally, Hexagon Capital Partners LLC purchased a new stake in Core Scientific during the first quarter worth about $34,000.

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.