Core Scientific (NASDAQ:CORZ) Sets New 52-Week High at $12.55

Core Scientific, Inc. (NASDAQ:CORZ) shares hit a new 52-week high on Thursday . The stock traded as high as $12.55 and last traded at $12.20, with a volume of 507812 shares. The stock had previously closed at $12.03.

Analyst Upgrades and Downgrades

CORZ has been the subject of a number of research reports. HC Wainwright boosted their price target on Core Scientific from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Needham & Company LLC began coverage on shares of Core Scientific in a research report on Wednesday, September 4th. They issued a “buy” rating and a $16.00 price objective for the company. Sanford C. Bernstein restated an “outperform” rating and set a $17.00 target price on shares of Core Scientific in a report on Tuesday, September 10th. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $14.50 price target on shares of Core Scientific in a report on Tuesday, July 2nd. Finally, BTIG Research boosted their price objective on Core Scientific from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $14.88.

Core Scientific Trading Up 3.2 %

The firm has a fifty day simple moving average of $10.19 and a 200-day simple moving average of $7.02.

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

Insiders Place Their Bets

In other news, Director Jarrod M. Patten purchased 4,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was acquired at an average cost of $9.70 per share, for a total transaction of $38,800.00. Following the acquisition, the director now owns 279,239 shares of the company’s stock, valued at $2,708,618.30. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other Core Scientific news, Director Jarrod M. Patten purchased 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was acquired at an average cost of $9.70 per share, with a total value of $38,800.00. Following the acquisition, the director now owns 279,239 shares of the company’s stock, valued at approximately $2,708,618.30. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jarrod M. Patten acquired 5,021 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $9.68 per share, with a total value of $48,603.28. Following the transaction, the director now owns 285,760 shares in the company, valued at $2,766,156.80. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 12,761 shares of company stock valued at $127,080 and have sold 27,655 shares valued at $260,087. 32.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Core Scientific

A number of hedge funds have recently added to or reduced their stakes in CORZ. Barings LLC acquired a new stake in shares of Core Scientific in the 1st quarter worth about $36,515,000. Vanguard Group Inc. bought a new stake in Core Scientific during the 1st quarter valued at $21,973,000. Kensico Capital Management Corp bought a new position in shares of Core Scientific in the first quarter worth $18,513,000. Van ECK Associates Corp acquired a new position in shares of Core Scientific during the second quarter valued at $12,239,000. Finally, Vident Advisory LLC bought a new stake in shares of Core Scientific during the first quarter valued at about $4,047,000.

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.