Weekly Research Analysts’ Ratings Changes for Core Scientific (CORZ)

Core Scientific (NASDAQ: CORZ) recently received a number of ratings updates from brokerages and research firms:

• 10/3/2024 – Core Scientific had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $20.00 price target on the stock.
• 9/25/2024 – Core Scientific is now covered by analysts at Macquarie. They set an “outperform” rating and a $16.00 price target on the stock.
• 9/23/2024 – Core Scientific is now covered by analysts at Canaccord Genuity Group Inc.. They set a “buy” rating and a $16.00 price target on the stock.
• 9/23/2024 – Core Scientific is now covered by analysts at Canaccord Genuity Group Inc.. They set a “buy” rating and a $16.00 price target on the stock.
• 9/10/2024 – Core Scientific had its “outperform” rating reaffirmed by analysts at Sanford C. Bernstein. They now have a $17.00 price target on the stock.
• 9/4/2024 – Core Scientific is now covered by analysts at Needham & Company LLC. They set a “buy” rating and a $16.00 price target on the stock.
• 9/3/2024 – Core Scientific had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $20.00 price target on the stock.

Core Scientific Stock Down 1.3 %

Shares of CORZ stock opened at $12.21 on Wednesday. The business’s fifty day simple moving average is $10.62 and its 200-day simple moving average is $7.81. Core Scientific, Inc. has a 12-month low of $2.61 and a 12-month high of $12.95.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Wednesday, August 7th. The company reported ($4.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The company had revenue of $141.10 million during the quarter, compared to analysts’ expectations of $128.58 million. Core Scientific’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, research analysts forecast that Core Scientific, Inc. will post 0.01 earnings per share for the current year.

Insider Activity

In other news, insider Todd M. Duchene sold 11,582 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.41, for a total value of $108,986.62. Following the sale, the insider now owns 1,686,474 shares in the company, valued at $15,869,720.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Core Scientific news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.41, for a total value of $82,356.32. Following the sale, the chief financial officer now owns 122,217 shares in the company, valued at approximately $1,150,061.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Todd M. Duchene sold 11,582 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.41, for a total transaction of $108,986.62. Following the sale, the insider now directly owns 1,686,474 shares in the company, valued at $15,869,720.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have acquired 12,761 shares of company stock valued at $127,080 in the last ninety days. Insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

A number of hedge funds have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC raised its position in shares of Core Scientific by 217.4% in the third quarter. Hexagon Capital Partners LLC now owns 18,163 shares of the company’s stock worth $215,000 after acquiring an additional 12,441 shares during the period. Doliver Advisors LP purchased a new position in Core Scientific during the third quarter worth approximately $124,000. Sanctuary Advisors LLC purchased a new position in Core Scientific during the second quarter worth approximately $140,000. Heritage Oak Wealth Advisors LLC acquired a new stake in Core Scientific in the second quarter valued at approximately $2,334,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Core Scientific in the second quarter valued at approximately $4,222,000.

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.