HC Wainwright Raises Core Scientific (NASDAQ:CORZ) Price Target to $15.00

Core Scientific (NASDAQ:CORZ) had its target price hoisted by HC Wainwright from $11.00 to $15.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Core Scientific’s Q2 2024 earnings at ($0.13) EPS, Q3 2024 earnings at ($0.23) EPS, Q4 2024 earnings at ($0.23) EPS, FY2024 earnings at $0.08 EPS and FY2025 earnings at $0.09 EPS.

Other equities analysts have also issued research reports about the company. BTIG Research increased their price target on Core Scientific from $10.00 to $15.00 and gave the company a buy rating in a research report on Wednesday, June 26th. LADENBURG THALM/SH SH restated a buy rating and set a $14.50 price objective on shares of Core Scientific in a research report on Tuesday, July 2nd. Finally, Sanford C. Bernstein began coverage on Core Scientific in a research report on Wednesday. They set an outperform rating and a $17.00 price objective for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average price target of $14.00.

Core Scientific Stock Up 4.0 %

NASDAQ:CORZ opened at $10.10 on Wednesday. The business’s 50-day moving average price is $7.11 and its 200 day moving average price is $4.40. Core Scientific has a 52-week low of $2.61 and a 52-week high of $11.00.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. The firm had revenue of $179.29 million for the quarter, compared to analyst estimates of $139.60 million. On average, equities analysts expect that Core Scientific will post -0.07 EPS for the current fiscal year.

Insider Activity

In other news, insider Todd M. Duchene sold 7,321 shares of Core Scientific stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total transaction of $68,744.19. Following the completion of the sale, the insider now directly owns 359,877 shares in the company, valued at approximately $3,379,245.03. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Todd M. Duchene sold 3,770 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $9.99, for a total value of $37,662.30. Following the transaction, the insider now directly owns 393,428 shares of the company’s stock, valued at approximately $3,930,345.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Todd M. Duchene sold 7,321 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $9.39, for a total value of $68,744.19. Following the completion of the transaction, the insider now directly owns 359,877 shares in the company, valued at $3,379,245.03. The disclosure for this sale can be found here. 32.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC bought a new position in shares of Core Scientific in the 2nd quarter valued at approximately $65,000. Aspect Partners LLC bought a new position in shares of Core Scientific in the 1st quarter valued at approximately $29,000. Hexagon Capital Partners LLC bought a new position in shares of Core Scientific in the 1st quarter valued at approximately $34,000. Lindbrook Capital LLC bought a new position in shares of Core Scientific in the 1st quarter valued at approximately $65,000. Finally, Fiduciary Alliance LLC bought a new position in Core Scientific in the 1st quarter worth approximately $84,000.

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.