Core Scientific (NASDAQ:CORZ) PT Raised to $17.00

Core Scientific (NASDAQ:CORZ) had its price target upped by research analysts at Needham & Company LLC from $16.00 to $17.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 24.27% from the stock’s previous close.

CORZ has been the topic of a number of other research reports. Canaccord Genuity Group began coverage on shares of Core Scientific in a report on Monday, September 23rd. They issued a “buy” rating and a $16.00 price target on the stock. HC Wainwright lifted their price target on shares of Core Scientific from $11.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. B. Riley lifted their price target on shares of Core Scientific from $13.00 to $14.00 and gave the company a “buy” rating in a report on Friday, October 11th. Canaccord Genuity Group lifted their price target on shares of Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Macquarie began coverage on shares of Core Scientific in a report on Wednesday, September 25th. They issued an “outperform” rating and a $16.00 price target on the stock. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, Core Scientific presently has a consensus rating of “Buy” and an average target price of $16.50.

Core Scientific Stock Up 1.2 %

CORZ stock opened at $13.68 on Wednesday. Core Scientific has a one year low of $2.61 and a one year high of $14.06. The company has a 50 day moving average price of $11.51 and a two-hundred day moving average price of $8.54.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Wednesday, August 7th. The company reported ($4.51) EPS for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The business had revenue of $141.10 million for the quarter, compared to analysts’ expectations of $128.58 million. Core Scientific’s revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Core Scientific will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Core Scientific news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.41, for a total value of $82,356.32. Following the transaction, the chief financial officer now owns 122,217 shares in the company, valued at $1,150,061.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Jarrod M. Patten bought 4,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was bought at an average price of $9.70 per share, with a total value of $38,800.00. Following the transaction, the director now owns 279,239 shares of the company’s stock, valued at approximately $2,708,618.30. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Denise Marie Brucia Sterling sold 8,752 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.41, for a total transaction of $82,356.32. Following the completion of the sale, the chief financial officer now directly owns 122,217 shares of the company’s stock, valued at $1,150,061.97. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought 12,761 shares of company stock worth $127,080 in the last quarter. 32.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Core Scientific

Several hedge funds and other institutional investors have recently modified their holdings of CORZ. Banque Cantonale Vaudoise bought a new stake in shares of Core Scientific in the 2nd quarter worth about $28,000. Aspect Partners LLC bought a new stake in shares of Core Scientific in the 1st quarter worth about $29,000. Sunbelt Securities Inc. bought a new stake in shares of Core Scientific in the 2nd quarter worth about $33,000. Hexagon Capital Partners LLC bought a new stake in shares of Core Scientific in the 1st quarter worth about $34,000. Finally, Rise Advisors LLC bought a new stake in shares of Core Scientific during the 2nd quarter valued at about $65,000.

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.