Core Scientific, Inc. (NASDAQ:CORZ) Receives Consensus Rating of “Buy” from Analysts

Shares of Core Scientific, Inc. (NASDAQ:CORZ) have received a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the company, MarketBeat.com reports. Eleven analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $15.18.

CORZ has been the subject of a number of recent research reports. Canaccord Genuity Group assumed coverage on shares of Core Scientific in a research report on Monday, September 23rd. They set a “buy” rating and a $16.00 price target for the company. LADENBURG THALM/SH SH restated a “buy” rating and set a $14.50 price objective on shares of Core Scientific in a research note on Tuesday, July 2nd. Canaccord Genuity Group assumed coverage on shares of Core Scientific in a research note on Monday, September 23rd. They set a “buy” rating and a $16.00 price objective for the company. BTIG Research raised their price objective on shares of Core Scientific from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price objective on shares of Core Scientific in a research note on Thursday.

Core Scientific Stock Up 1.4 %

NASDAQ:CORZ opened at $12.19 on Monday. The company has a 50-day moving average price of $10.51 and a 200-day moving average price of $7.68. Core Scientific has a 12 month low of $2.61 and a 12 month high of $12.95.

Core Scientific (NASDAQ:CORZ) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $128.58 million. Core Scientific’s revenue was up 11.2% compared to the same quarter last year. Research analysts forecast that Core Scientific will post 0.01 earnings per share for the current year.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 11,582 shares of the stock in a transaction dated 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Todd M. Duchene sold 11,582 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $108,986.62. Following the transaction, the insider now owns 1,686,474 shares in the company, valued at $15,869,720.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jarrod M. Patten acquired 4,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were bought at an average price of $9.70 per share, for a total transaction of $38,800.00. Following the acquisition, the director now owns 279,239 shares of the company’s stock, valued at approximately $2,708,618.30. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 12,761 shares of company stock valued at $127,080 over the last three months. 32.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Core Scientific

Hedge funds and other institutional investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new position in Core Scientific in the 2nd quarter valued at $28,000. Sunbelt Securities Inc. acquired a new stake in shares of Core Scientific during the 2nd quarter worth about $33,000. Rise Advisors LLC acquired a new position in Core Scientific in the 2nd quarter valued at about $65,000. Aspect Partners LLC acquired a new position in Core Scientific in the 1st quarter valued at about $29,000. Finally, Hexagon Capital Partners LLC acquired a new position in Core Scientific in the 1st quarter valued at about $34,000.

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.