Core Scientific (NASDAQ:CORZ) Price Target Increased to $11.00 by Analysts at HC Wainwright

Core Scientific (NASDAQ:CORZ) had its target price lifted by investment analysts at HC Wainwright from $5.00 to $11.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 26.00% from the stock’s previous close.

Separately, BTIG Research increased their target price on Core Scientific from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th.

Core Scientific Price Performance

Shares of Core Scientific stock opened at $8.73 on Tuesday. Core Scientific has a 12-month low of $2.61 and a 12-month high of $10.70. The company’s fifty day simple moving average is $5.23 and its two-hundred day simple moving average is $3.56.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.14. The company had revenue of $179.29 million for the quarter, compared to analysts’ expectations of $139.60 million. On average, equities analysts expect that Core Scientific will post -0.17 earnings per share for the current fiscal year.

Insider Transactions at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 3,770 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $9.99, for a total transaction of $37,662.30. Following the completion of the transaction, the insider now owns 393,428 shares of the company’s stock, valued at $3,930,345.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On Core Scientific

Hedge funds have recently added to or reduced their stakes in the stock. Barings LLC bought a new position in shares of Core Scientific in the first quarter worth approximately $36,515,000. Vanguard Group Inc. purchased a new position in Core Scientific in the 1st quarter worth approximately $21,973,000. Kensico Capital Management Corp bought a new position in Core Scientific in the 1st quarter valued at approximately $18,513,000. Vident Advisory LLC purchased a new stake in Core Scientific during the 1st quarter valued at $4,047,000. Finally, Blair William & Co. IL purchased a new stake in Core Scientific during the 1st quarter valued at $1,156,000.

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.