Core Scientific (NASDAQ:CORZ) Earns Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Core Scientific (NASDAQ:CORZ) in a research report sent to investors on Thursday,Benzinga reports. The firm currently has a $17.00 price target on the stock.

CORZ has been the subject of several other research reports. B. Riley increased their price objective 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. Craig Hallum initiated coverage on shares of Core Scientific in a research report on Tuesday, January 21st. They set a “buy” rating and a $24.00 target price on the stock. Roth Mkm assumed coverage on shares of Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 price target for the company. Macquarie boosted their price objective on shares of Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Finally, Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $19.07.

Core Scientific Stock Up 6.9 %

Shares of Core Scientific stock opened at $10.71 on Thursday. The firm has a market cap of $2.99 billion and a PE ratio of -1.98. Core Scientific has a fifty-two week low of $2.61 and a fifty-two week high of $18.63. The business’s fifty day moving average is $13.34 and its two-hundred day moving average is $13.28.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.09. The firm had revenue of $94.93 million for the quarter, compared to analyst estimates of $97.07 million. Equities research analysts anticipate that Core Scientific will post 0.52 EPS for the current year.

Insider Transactions at Core Scientific

In other news, CEO Adam Taylor Sullivan sold 88,380 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total value of $1,258,531.20. Following the sale, the chief executive officer now owns 4,128,505 shares of the company’s stock, valued at approximately $58,789,911.20. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Todd M. Duchene sold 129,861 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,849,220.64. Following the completion of the sale, the insider now owns 2,051,649 shares in the company, valued at approximately $29,215,481.76. This trade represents a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 614,032 shares of company stock valued at $9,534,916. Company insiders own 32.00% of the company’s stock.

Hedge Funds Weigh In On Core Scientific

Hedge funds have recently modified their holdings of the stock. Wellington Shields & Co. LLC purchased a new stake in shares of Core Scientific during the fourth quarter valued at $26,000. First Horizon Advisors Inc. purchased a new stake in shares of Core Scientific in the 4th quarter valued at approximately $34,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Core Scientific in the 4th quarter valued at approximately $42,000. Vestcor Inc acquired a new stake in Core Scientific during the 4th quarter valued at $66,000. Finally, US Bancorp DE acquired a new stake in shares of Core Scientific in the fourth quarter worth $99,000.

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.