Core Scientific (NASDAQ:CORZ) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Core Scientific (NASDAQ:CORZ) in a research note published on Thursday morning, Benzinga reports. Cantor Fitzgerald currently has a $20.00 target price on the stock.

A number of other research analysts have also recently issued reports on CORZ. HC Wainwright boosted their target price on Core Scientific from $11.00 to $15.00 and gave the company a buy rating in a research note on Wednesday, July 10th. Canaccord Genuity Group began coverage on Core Scientific in a research note on Monday, September 23rd. They set a buy rating and a $16.00 target price for the company. Canaccord Genuity Group assumed coverage on shares of Core Scientific in a research note on Monday, September 23rd. They issued a buy rating and a $16.00 price target on the stock. Macquarie initiated coverage on shares of Core Scientific in a research report on Wednesday, September 25th. They set an outperform rating and a $16.00 price objective for the company. Finally, B. Riley raised shares of Core Scientific from a neutral rating to a buy rating and boosted their price objective for the company from $0.50 to $13.00 in a research report on Wednesday, July 17th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Core Scientific currently has a consensus rating of Buy and a consensus target price of $15.18.

Core Scientific Stock Performance

Core Scientific stock opened at $12.19 on Thursday. Core Scientific has a 1 year low of $2.61 and a 1 year high of $12.95. The company’s 50-day moving average is $10.51 and its two-hundred day moving average is $7.65.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) 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 analyst estimates of $128.58 million. The firm’s revenue was up 11.2% compared to the same quarter last year. As a group, equities analysts expect that Core Scientific will post 0.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Todd M. Duchene sold 11,582 shares of the 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 completion of the sale, the insider now owns 1,686,474 shares of the company’s stock, valued at approximately $15,869,720.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the firm’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 $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 $1,150,061.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Todd M. Duchene sold 11,582 shares of Core Scientific stock in a transaction 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 sale, the insider now directly owns 1,686,474 shares of the company’s stock, valued at approximately $15,869,720.34. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have purchased 12,761 shares of company stock valued at $127,080. 32.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise bought a new stake in Core Scientific during the 2nd quarter worth approximately $28,000. Sunbelt Securities Inc. purchased a new position in shares of Core Scientific during the second quarter valued at approximately $33,000. Rise Advisors LLC bought a new stake in Core Scientific during the second quarter worth $65,000. Aspect Partners LLC purchased a new stake in Core Scientific in the 1st quarter valued at $29,000. Finally, Hexagon Capital Partners LLC bought a new position in Core Scientific during the 1st quarter valued at $34,000.

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.