Core Scientific, Inc. (NASDAQ:CORZ – Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Stock investors bought 153,381 call options on the stock. This represents an increase of 46% compared to the average volume of 105,319 call options.
Wall Street Analysts Forecast Growth
CORZ has been the subject of a number of research reports. LADENBURG THALM/SH SH dropped their price objective on Core Scientific from $24.50 to $23.75 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Citigroup upgraded shares of Core Scientific from a “market perform” rating to an “outperform” rating in a report on Thursday, December 18th. Canaccord Genuity Group lifted their price target on Core Scientific from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Needham & Company LLC upgraded Core Scientific from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, March 3rd. Finally, Cantor Fitzgerald boosted their target price on Core Scientific from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.07.
View Our Latest Report on Core Scientific
Insider Activity at Core Scientific
Institutional Investors Weigh In On Core Scientific
Large investors have recently modified their holdings of the company. Allworth Financial LP grew its position in shares of Core Scientific by 206.5% during the third quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after acquiring an additional 950 shares during the last quarter. Larson Financial Group LLC boosted its stake in Core Scientific by 936.7% during the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock worth $27,000 after purchasing an additional 1,686 shares during the period. Osaic Holdings Inc. grew its position in Core Scientific by 112.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock worth $34,000 after purchasing an additional 1,066 shares during the last quarter. Danske Bank A S acquired a new position in Core Scientific in the fourth quarter valued at $36,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Core Scientific by 61.9% in the second quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock valued at $67,000 after buying an additional 1,507 shares during the last quarter.
Core Scientific Stock Down 0.6%
CORZ traded down $0.11 on Tuesday, reaching $18.60. The company had a trading volume of 11,596,268 shares, compared to its average volume of 11,600,521. Core Scientific has a 1 year low of $6.30 and a 1 year high of $23.63. The stock has a market capitalization of $5.87 billion, a PE ratio of 15.92 and a beta of 6.34. The stock has a 50-day moving average price of $16.70 and a 200-day moving average price of $17.22.
Core Scientific (NASDAQ:CORZ – Get Free Report) last posted its earnings results on Monday, March 2nd. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The firm had revenue of $79.76 million for the quarter, compared to analyst estimates of $118.45 million. During the same quarter last year, the firm posted ($0.69) EPS. The firm’s revenue for the quarter was down 16.0% on a year-over-year basis. As a group, analysts expect that Core Scientific will post 0.52 earnings per share for the current fiscal year.
Core Scientific Company Profile
Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.
Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.
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