B. Riley Boosts Core Scientific (NASDAQ:CORZ) Price Target to $17.00

Core Scientific (NASDAQ:CORZ) had its target price lifted by research analysts at B. Riley from $16.00 to $17.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s price objective would suggest a potential upside of 3.03% from the company’s current price.

Other analysts have also recently issued reports about the company. Sanford C. Bernstein reissued an “outperform” rating and issued a $17.00 target price on shares of Core Scientific in a research report on Tuesday, September 10th. Canaccord Genuity Group started coverage on Core Scientific in a research report on Monday, September 23rd. They set a “buy” rating and a $16.00 price objective for the company. Jefferies Financial Group started coverage on Core Scientific in a research report on Monday, October 28th. They set a “buy” rating and a $19.00 price objective for the company. Needham & Company LLC increased their price objective on Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price objective on shares of Core Scientific in a research report on Thursday, October 3rd. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $17.21.

Core Scientific Stock Up 15.1 %

Shares of NASDAQ CORZ traded up $2.17 during trading hours on Thursday, reaching $16.50. The stock had a trading volume of 24,599,102 shares, compared to its average volume of 8,818,101. Core Scientific has a fifty-two week low of $2.61 and a fifty-two week high of $16.70. The firm has a 50-day moving average of $12.08 and a 200-day moving average of $9.25.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The company had revenue of $141.10 million during the quarter, compared to analysts’ expectations of $128.58 million. The firm’s revenue was up 11.2% compared to the same quarter last year. Equities research analysts forecast that Core Scientific will post 0.81 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 firm’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 value of $108,986.62. Following the completion of the transaction, the insider now directly owns 1,686,474 shares of the company’s stock, valued at $15,869,720.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Denise Marie Brucia Sterling sold 8,752 shares of Core Scientific stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.41, for a total transaction of $82,356.32. Following the sale, the chief financial officer now directly owns 122,217 shares of the company’s stock, valued at approximately $1,150,061.97. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Todd M. Duchene sold 11,582 shares of Core Scientific stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.41, for a total value of $108,986.62. Following the sale, the insider now directly owns 1,686,474 shares in the company, valued at approximately $15,869,720.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought 12,761 shares of company stock valued at $127,080 in the last ninety days.

Institutional Trading of Core Scientific

Hedge funds and other institutional investors have recently modified their holdings of the business. Banque Cantonale Vaudoise purchased a new stake in shares of Core Scientific during the second quarter worth about $28,000. Sunbelt Securities Inc. bought a new stake in Core Scientific in the second quarter valued at about $33,000. Rise Advisors LLC bought a new stake in Core Scientific in the second quarter valued at about $65,000. Aspect Partners LLC bought a new stake in Core Scientific in the first quarter valued at about $29,000. Finally, Divisadero Street Capital Management LP bought a new stake in Core Scientific in the second quarter valued at about $93,000.

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.