Analysts Set Core Scientific, Inc. (NASDAQ:CORZ) PT at $19.07

Core Scientific, Inc. (NASDAQ:CORZ) has received a consensus rating of “Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $19.07.

CORZ has been the subject of a number of recent analyst reports. HC Wainwright lifted their target price on Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Roth Mkm initiated coverage on shares of Core Scientific in a research note on Friday, November 15th. They set a “buy” rating and a $25.50 price objective for the company. Roth Capital upgraded shares of Core Scientific to a “strong-buy” rating in a research note on Thursday, November 14th. 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 price target for the company. Finally, Keefe, Bruyette & Woods started coverage on shares of Core Scientific in a report on Monday, January 27th. They issued an “outperform” rating and a $22.00 price target on the stock.

Insider Transactions at Core Scientific

In related news, 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 in the company, valued at $28,411,205.40. This trade represents a 1.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yadin Rozov sold 105,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the completion of the sale, the director now directly owns 345,239 shares of the company’s stock, valued at $6,252,278.29. This represents a 23.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 744,032 shares of company stock worth $11,863,966.

Hedge Funds Weigh In On Core Scientific

Several institutional investors and hedge funds have recently bought and sold shares of CORZ. Sunbelt Securities Inc. bought a new stake in Core Scientific in the second quarter valued at approximately $33,000. First Horizon Advisors Inc. bought a new stake in Core Scientific during the 4th quarter valued at $34,000. Newbridge Financial Services Group Inc. purchased a new stake in Core Scientific during the 4th quarter valued at $42,000. Rise Advisors LLC boosted its position in Core Scientific by 14.3% during the 3rd 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 period. Finally, KBC Group NV bought a new stake in Core Scientific in the 4th quarter worth $114,000.

Core Scientific Trading Down 1.0 %

Core Scientific stock opened at $12.21 on Friday. The firm has a 50 day simple moving average of $14.81 and a 200 day simple moving average of $13.07. Core Scientific has a 1-year low of $2.61 and a 1-year high of $18.63. The firm has a market capitalization of $3.41 billion and a price-to-earnings ratio of -2.26.

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

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.