Core Scientific (NASDAQ:CORZ) Price Target Raised to $17.00

Core Scientific (NASDAQ:CORZ) had its target price boosted by B. Riley from $16.00 to $17.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a research report on Thursday. Compass Point increased their price objective 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. Macquarie initiated coverage on shares of Core Scientific in a report on Wednesday, September 25th. They issued an “outperform” rating and a $16.00 target price for the company. Needham & Company LLC boosted their price objective on Core Scientific from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $17.00 price target on shares of Core Scientific in a report on Tuesday, September 10th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, Core Scientific currently has a consensus rating of “Buy” and a consensus price target of $17.21.

Core Scientific Trading Up 3.0 %

CORZ traded up $0.50 during midday trading on Thursday, reaching $16.96. 12,164,781 shares of the company’s stock traded hands, compared to its average volume of 8,864,858. Core Scientific has a 52 week low of $2.61 and a 52 week high of $17.00. The firm has a fifty day moving average of $12.21 and a two-hundred day moving average of $9.30.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The company had revenue of $141.10 million for the quarter, compared to analyst estimates of $128.58 million. The company’s revenue was up 11.2% on a year-over-year basis. Analysts predict that Core Scientific will post 0.81 EPS for the current year.

Insider Activity

In other Core Scientific 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 transaction of $108,986.62. Following the completion of the transaction, the insider now directly owns 1,686,474 shares in the company, valued at approximately $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 hyperlink. In other news, Director Jarrod M. Patten purchased 4,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was acquired at an average price of $9.70 per share, with a total value of $38,800.00. Following the purchase, the director now directly owns 279,239 shares in the company, valued at approximately $2,708,618.30. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Todd M. Duchene sold 11,582 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $108,986.62. Following the completion of the transaction, 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 have acquired 12,761 shares of company stock worth $127,080 in the last quarter.

Hedge Funds Weigh In On Core Scientific

Several hedge funds have recently bought and sold shares of the company. Barings LLC purchased a new position in shares of Core Scientific in the first quarter valued at approximately $36,515,000. ORG Wealth Partners LLC acquired a new stake in shares of Core Scientific during the 3rd quarter valued at approximately $106,266,000. Vanguard Group Inc. acquired a new position in Core Scientific during the first quarter worth $21,973,000. Kensico Capital Management Corp purchased a new position in shares of Core Scientific in the 1st quarter worth $18,513,000. Finally, Van ECK Associates Corp boosted its holdings in Core Scientific by 22.9% in the third quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock valued at $19,177,000 after acquiring an additional 300,942 shares during 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.