Core Scientific, Inc. (NASDAQ:CORZ – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the twenty-three analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eighteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $31.78.
Several equities analysts have recently weighed in on CORZ shares. Wolfe Research reiterated a “buy” rating on shares of Core Scientific in a report on Wednesday, July 29th. UBS Group restated a “market outperform” rating on shares of Core Scientific in a research note on Wednesday, October 14th. Wells Fargo & Company initiated coverage on Core Scientific in a research report on Thursday, September 17th. They issued an “overweight” rating and a $28.00 target price for the company. BTIG Research reaffirmed a “buy” rating and issued a $38.00 target price on shares of Core Scientific in a research report on Thursday, October 15th. Finally, Freedom Capital raised Core Scientific from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th.
Get Our Latest Report on Core Scientific
Insiders Place Their Bets
In other Core Scientific news, Director Eric Weiss purchased 7,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was acquired at an average price of $19.19 per share, for a total transaction of $134,330.00. Following the purchase, the director owned 259,262 shares of the company’s stock, valued at $4,975,237.78. This trade represents a 2.77% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Todd M. Duchene sold 10,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $19.97, for a total transaction of $199,700.00. Following the sale, the insider owned 1,969,101 shares of the company’s stock, valued at $39,322,946.97. This trade represents a 0.51% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders purchased 19,000 shares of company stock worth $342,290 and sold 90,000 shares worth $1,587,500. 1.70% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. Handelsbanken Fonder AB increased its stake in shares of Core Scientific by 0.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 94,500 shares of the company’s stock worth $2,418,000 after purchasing an additional 700 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Core Scientific by 34.5% in the 2nd quarter. GAMMA Investing LLC now owns 3,049 shares of the company’s stock worth $78,000 after purchasing an additional 782 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of Core Scientific by 1,371.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,177 shares of the company’s stock worth $30,000 after purchasing an additional 1,097 shares during the period. Carronade Capital Management LP lifted its stake in Core Scientific by 1.1% in the first quarter. Carronade Capital Management LP now owns 101,103 shares of the company’s stock valued at $1,513,000 after purchasing an additional 1,103 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC lifted its stake in Core Scientific by 9.3% in the third quarter. Counterpoint Mutual Funds LLC now owns 14,425 shares of the company’s stock valued at $231,000 after purchasing an additional 1,224 shares during the last quarter.
Core Scientific Stock Up 3.1%
Shares of NASDAQ CORZ opened at $13.51 on Tuesday. The firm has a market cap of $4.34 billion, a PE ratio of -3.06 and a beta of 5.49. Core Scientific has a 12-month low of $12.31 and a 12-month high of $30.46. The company’s fifty day simple moving average is $16.57 and its 200 day simple moving average is $19.68.
Core Scientific (NASDAQ:CORZ – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The business had revenue of $164.20 million for the quarter, compared to analysts’ expectations of $144.83 million. On average, equities analysts predict that Core Scientific will post -1.36 earnings per share for the current year.
Core Scientific Company Profile
Core Scientific, Inc is a digital infrastructure company that develops and operates data centers for high-performance computing. The company has historically focused on bitcoin mining, using specialized computing equipment and supporting infrastructure to validate transactions on the Bitcoin network. It also provides hosting and infrastructure services for other digital asset miners.
Core Scientific is expanding its business toward hosting high-performance computing and artificial intelligence workloads.
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