Core Scientific (NASDAQ:CORZ) Now Covered by Craig Hallum

Craig Hallum initiated coverage on shares of Core Scientific (NASDAQ:CORZ) in a research note published on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $24.00 price objective on the stock.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 target price on shares of Core Scientific in a research note on Thursday, November 7th. HC Wainwright upped their price objective on shares of Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Roth Capital upgraded shares of Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. B. Riley upped their price target on shares of Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 price objective on shares of Core Scientific in a report on Thursday, October 3rd. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $18.86.

Core Scientific Stock Performance

Shares of NASDAQ CORZ opened at $15.27 on Tuesday. The company has a market capitalization of $4.26 billion and a PE ratio of -2.82. The company’s fifty day moving average price is $15.58 and its 200 day moving average price is $12.84. Core Scientific has a 1 year low of $2.61 and a 1 year high of $18.63.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $95.35 million for the quarter, compared to analyst estimates of $94.80 million. On average, equities analysts expect that Core Scientific will post 0.5 EPS for the current year.

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 25,000 shares of Core Scientific stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total transaction of $427,500.00. Following the transaction, the insider now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yadin Rozov sold 105,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $18.11, for a total transaction 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. The trade was a 23.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 348,241 shares of company stock valued at $5,436,802.

Institutional Investors Weigh In On Core Scientific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. acquired a new position in shares of Core Scientific in the 2nd quarter valued at $33,000. Rise Advisors LLC lifted its position in Core Scientific by 14.3% in the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock valued at $95,000 after buying an additional 1,000 shares during the last quarter. Xponance Inc. acquired a new position in Core Scientific in the second quarter valued at about $104,000. Amalgamated Bank purchased a new position in Core Scientific during the second quarter worth about $115,000. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Core Scientific during the third quarter valued at about $119,000.

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.