Core Scientific (NASDAQ:CORZ) Upgraded at Roth Capital

Roth Capital upgraded shares of Core Scientific (NASDAQ:CORZ) from a neutral rating to a buy rating in a report published on Thursday, MarketBeat Ratings reports. The firm currently has $23.50 price objective on the stock, up from their previous price objective of $17.00.

Other equities research analysts have also issued research reports about the company. Citigroup lowered Core Scientific from an “outperform” rating to a “market perform” rating in a research note on Monday, July 14th. UBS Group set a $30.00 price objective on Core Scientific in a research report on Wednesday. Barclays lowered Core Scientific to an “underweight” rating in a research report on Tuesday, July 8th. Oppenheimer restated a “market perform” rating on shares of Core Scientific in a research report on Monday, July 7th. Finally, HC Wainwright restated a “neutral” rating on shares of Core Scientific in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.69.

Core Scientific Stock Performance

Shares of CORZ stock opened at $19.34 on Thursday. Core Scientific has a 52-week low of $6.20 and a 52-week high of $20.36. The firm has a market capitalization of $5.94 billion, a PE ratio of 128.94 and a beta of 6.58. The stock has a fifty day simple moving average of $16.42 and a two-hundred day simple moving average of $13.31.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Friday, October 24th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.39. The business had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $107.18 million. On average, sell-side analysts forecast that Core Scientific will post 0.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. HHM Wealth Advisors LLC lifted its holdings in shares of Core Scientific by 96.5% in the 2nd quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company’s stock valued at $33,000 after acquiring an additional 946 shares during the last quarter. State of Wyoming bought a new position in shares of Core Scientific in the 1st quarter valued at about $34,000. Osaic Holdings Inc. lifted its holdings in shares of Core Scientific by 112.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after acquiring an additional 1,066 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new stake in Core Scientific in the first quarter worth about $38,000. Finally, Advisors Asset Management Inc. lifted its stake in Core Scientific by 68.3% in the second quarter. Advisors Asset Management Inc. now owns 2,690 shares of the company’s stock worth $46,000 after purchasing an additional 1,092 shares during the last quarter.

About Core Scientific

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.