Core Scientific (NASDAQ:CORZ) Price Target Raised to $17.00

Core Scientific (NASDAQ:CORZ) had its price objective lifted by equities researchers at HC Wainwright from $15.00 to $17.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 18.63% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Compass Point boosted their price objective on shares of Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group began coverage on Core Scientific in a report on Monday, October 28th. They issued a “buy” rating and a $19.00 price target for the company. Canaccord Genuity Group began coverage on Core Scientific in a report on Monday, September 23rd. They set a “buy” rating and a $16.00 price objective on the stock. Canaccord Genuity Group upped their target price on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, B. Riley increased their price target on Core Scientific from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Core Scientific presently has an average rating of “Buy” and an average target price of $16.96.

Core Scientific Stock Up 10.1 %

Shares of Core Scientific stock opened at $14.33 on Thursday. The stock’s fifty day moving average is $12.08 and its two-hundred day moving average is $9.25. Core Scientific has a 52 week low of $2.61 and a 52 week high of $14.64.

Core Scientific (NASDAQ:CORZ) last issued 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 firm had revenue of $141.10 million for the quarter, compared to analysts’ expectations of $128.58 million. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, research analysts predict that Core Scientific will post 0.81 EPS for the current year.

Insider Activity

In related news, insider Todd M. Duchene sold 11,582 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $108,986.62. Following the completion of the transaction, the insider now owns 1,686,474 shares in the company, valued at $15,869,720.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Core Scientific news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.41, for a total value of $82,356.32. Following the completion of the sale, the chief financial officer now owns 122,217 shares of the company’s stock, valued at approximately $1,150,061.97. This trade represents 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 the SEC website. Also, insider Todd M. Duchene sold 11,582 shares of the business’s 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 owns 1,686,474 shares in the company, valued at $15,869,720.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 12,761 shares of company stock worth $127,080. Corporate insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

Institutional investors have recently bought and sold shares of the stock. Banque Cantonale Vaudoise acquired a new position in Core Scientific during the 2nd quarter valued at approximately $28,000. Aspect Partners LLC acquired a new position in shares of Core Scientific in the 1st quarter valued at $29,000. Sunbelt Securities Inc. acquired a new position in shares of Core Scientific in the 2nd quarter valued at $33,000. Rise Advisors LLC purchased a new position in Core Scientific in the 2nd quarter worth $65,000. Finally, Divisadero Street Capital Management LP acquired a new stake in Core Scientific during the 2nd quarter worth about $93,000.

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.