Core Scientific, Inc. (NASDAQ:CORZ – Get Free Report) saw strong trading volume on Wednesday after BTIG Research raised their price target on the stock from $10.00 to $15.00. BTIG Research currently has a buy rating on the stock. 7,762,675 shares were traded during mid-day trading, an increase of 28% from the previous session’s volume of 6,087,751 shares.The stock last traded at $9.72 and had previously closed at $9.27.
Separately, HC Wainwright raised their target price on Core Scientific from $5.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday.
Insider Activity
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barings LLC bought a new stake in shares of Core Scientific in the 1st quarter worth $36,515,000. Vanguard Group Inc. bought a new stake in shares of Core Scientific in the first quarter worth $21,973,000. Kensico Capital Management Corp purchased a new position in Core Scientific during the first quarter valued at $18,513,000. Vident Advisory LLC purchased a new position in Core Scientific during the first quarter valued at $4,047,000. Finally, Blair William & Co. IL purchased a new position in Core Scientific during the first quarter valued at $1,156,000.
Core Scientific Trading Up 7.3 %
The company has a 50-day moving average of $5.51 and a two-hundred day moving average of $3.66.
Core Scientific (NASDAQ:CORZ – Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.05 by $0.14. The business had revenue of $179.29 million during the quarter, compared to analysts’ expectations of $139.60 million. As a group, equities analysts anticipate that Core Scientific, Inc. will post -0.17 EPS for the current fiscal year.
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.
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