Core Scientific (NASDAQ:CORZ) PT Raised to $20.00 at Compass Point

Core Scientific (NASDAQ:CORZ) had its price objective hoisted by analysts at Compass Point from $18.00 to $20.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Compass Point’s price objective suggests a potential upside of 46.20% from the company’s previous close.

CORZ has been the topic of several other research reports. BTIG Research raised their price target on shares of Core Scientific from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Sanford C. Bernstein reissued an “outperform” rating and set a $17.00 price target on shares of Core Scientific in a research report on Tuesday, September 10th. Canaccord Genuity Group started coverage on shares of Core Scientific in a research report on Monday, September 23rd. They issued a “buy” rating and a $16.00 price objective for the company. 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 objective on the stock. Finally, Needham & Company LLC boosted their price target on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Core Scientific has a consensus rating of “Buy” and a consensus target price of $16.50.

Core Scientific Stock Up 1.2 %

Shares of 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 200 day moving average price of $8.54.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The company had revenue of $141.10 million during the quarter, compared to analyst estimates of $128.58 million. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. Equities analysts predict that Core Scientific will post 0.01 earnings per share for the current year.

Insider Activity at Core Scientific

In related news, insider Todd M. Duchene sold 11,582 shares of the 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 $108,986.62. Following the transaction, the insider now owns 1,686,474 shares in the company, valued at approximately $15,869,720.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Core Scientific news, insider Todd M. Duchene sold 11,582 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 transaction of $108,986.62. Following the completion of the sale, the insider now owns 1,686,474 shares of the company’s stock, valued at $15,869,720.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jarrod M. Patten acquired 5,021 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $9.68 per share, with a total value of $48,603.28. Following the completion of the acquisition, the director now owns 285,760 shares in the company, valued at $2,766,156.80. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 12,761 shares of company stock valued at $127,080. Insiders own 32.00% of the company’s stock.

Hedge Funds Weigh In On Core Scientific

Several institutional investors and hedge funds have recently added to or reduced their stakes in CORZ. Barings LLC acquired a new position in shares of Core Scientific in the 1st quarter worth approximately $36,515,000. ORG Wealth Partners LLC bought a new stake in Core Scientific in the third quarter valued at about $106,266,000. Vanguard Group Inc. acquired a new position in shares of Core Scientific during the 1st quarter worth about $21,973,000. Kensico Capital Management Corp bought a new position in Core Scientific during the 1st quarter worth approximately $18,513,000. Finally, Van ECK Associates Corp acquired a new position in shares of Core Scientific in the 2nd quarter valued at $12,239,000.

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.