Core Scientific (NASDAQ:CORZ) Now Covered by Craig Hallum

Craig Hallum began coverage on shares of Core Scientific (NASDAQ:CORZ) in a report released on Tuesday morning, Marketbeat reports. The firm issued a buy rating and a $24.00 target price on the stock.

A number of other analysts have also recently issued reports on CORZ. Roth Mkm started coverage on Core Scientific in a research report on Friday, November 15th. They set a “buy” rating and a $25.50 price objective for the company. Macquarie lifted their price target on Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Core Scientific in a report on Friday, January 17th. HC Wainwright raised their price objective on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research report on Thursday, November 7th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $18.86.

Core Scientific Price Performance

NASDAQ CORZ opened at $16.34 on Tuesday. The firm has a market capitalization of $4.56 billion and a price-to-earnings ratio of -3.02. The company has a 50 day simple moving average of $15.54 and a 200-day simple moving average of $12.90. Core Scientific has a 52-week low of $2.61 and a 52-week high of $18.63.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The business had revenue of $95.35 million for the quarter, compared to the consensus estimate of $94.80 million. On average, analysts predict that Core Scientific will post 0.5 EPS for the current year.

Insiders Place Their Bets

In other Core Scientific news, Director Yadin Rozov sold 105,000 shares of Core Scientific stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $18.11, for a total value of $1,901,550.00. Following the transaction, the director now directly owns 345,239 shares of the company’s stock, valued at $6,252,278.29. The trade was a 23.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Todd M. Duchene sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total value of $427,500.00. Following the completion of the sale, the insider now directly owns 1,661,474 shares of the company’s stock, valued at $28,411,205.40. This represents a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 348,241 shares of company stock valued at $5,436,802 in the last quarter. Insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

Several hedge funds and other institutional investors have recently bought and sold shares of CORZ. Rise Advisors LLC lifted its stake in shares of Core Scientific by 14.3% in the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock valued at $95,000 after buying an additional 1,000 shares during the period. Sunbelt Securities Inc. acquired a new position in Core Scientific in the 2nd quarter valued at approximately $33,000. Vontobel Holding Ltd. lifted its position in shares of Core Scientific by 10.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 38,089 shares of the company’s stock worth $452,000 after acquiring an additional 3,591 shares during the period. Harvest Portfolios Group Inc. grew its holdings in shares of Core Scientific by 10.1% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 55,881 shares of the company’s stock worth $663,000 after purchasing an additional 5,109 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. increased its position in shares of Core Scientific by 25.4% during the third quarter. Pekin Hardy Strauss Inc. now owns 30,725 shares of the company’s stock valued at $364,000 after purchasing an additional 6,225 shares during the period.

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.