Core Scientific (NASDAQ:CORZ) Coverage Initiated by Analysts at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods began coverage on shares of Core Scientific (NASDAQ:CORZ) in a report published on Monday morning, MarketBeat reports. The firm issued an outperform rating and a $22.00 price objective on the stock.

A number of other brokerages have also recently issued reports on CORZ. Craig Hallum initiated coverage on shares of Core Scientific in a report on Tuesday, January 21st. They issued a “buy” rating and a $24.00 target price on the stock. B. Riley increased their target price on shares of Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research report on Thursday, November 7th. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price objective on shares of Core Scientific in a research report on Thursday, October 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of Core Scientific in a report on Friday, January 17th. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Core Scientific currently has a consensus rating of “Buy” and a consensus price target of $19.07.

Core Scientific Stock Down 29.6 %

CORZ opened at $11.26 on Monday. The firm has a market cap of $3.14 billion and a P/E ratio of -2.08. Core Scientific has a 52 week low of $2.61 and a 52 week high of $18.63. The business’s fifty day simple moving average is $15.56 and its 200 day simple moving average is $13.01.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The business had revenue of $95.35 million during the quarter, compared to analysts’ expectations of $94.80 million. As a group, equities analysts expect that Core Scientific will post 0.5 EPS for the current fiscal year.

Insider Transactions at Core Scientific

In other news, Director Yadin Rozov sold 105,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $18.11, for a total value of $1,901,550.00. Following the completion of the transaction, the director now owns 345,239 shares in the company, valued at $6,252,278.29. This trade represents a 23.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Todd M. Duchene sold 25,000 shares of Core Scientific stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total value of $427,500.00. Following the transaction, the insider now owns 1,661,474 shares of the company’s stock, valued at $28,411,205.40. The trade was a 1.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 349,043 shares of company stock worth $5,449,345. 32.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Core Scientific

Large investors have recently modified their holdings of the company. Renaissance Technologies LLC purchased a new position in Core Scientific during the second quarter valued at $2,213,000. Amalgamated Bank purchased a new position in Core Scientific during the second quarter valued at $115,000. Xponance Inc. purchased a new position in Core Scientific during the second quarter valued at $104,000. Marshall Wace LLP lifted its position in Core Scientific by 284.9% during the second quarter. Marshall Wace LLP now owns 444,983 shares of the company’s stock valued at $4,138,000 after purchasing an additional 329,385 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Core Scientific during the second quarter valued at $598,000.

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.