BTIG Research Raises Core Scientific (NASDAQ:CORZ) Price Target to $15.00

Core Scientific (NASDAQ:CORZ) had its target price raised by BTIG Research from $10.00 to $15.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 52.91% from the stock’s previous close.

Separately, HC Wainwright upped their price target on shares of Core Scientific from $5.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday.

Core Scientific Price Performance

NASDAQ CORZ traded up $0.54 during trading on Wednesday, reaching $9.81. The company’s stock had a trading volume of 5,424,267 shares, compared to its average volume of 6,065,691. Core Scientific has a 1-year low of $2.61 and a 1-year high of $10.70. The business has a 50-day moving average price of $5.36 and a 200-day moving average price of $3.62.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.14. The firm had revenue of $179.29 million for the quarter, compared to the consensus estimate of $139.60 million. As a group, equities analysts predict that Core Scientific will post -0.17 earnings per share for the current fiscal year.

Insider Activity at Core Scientific

In other news, insider Todd M. Duchene sold 3,770 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $9.99, for a total value of $37,662.30. Following the completion of the sale, the insider now directly owns 393,428 shares of the company’s stock, valued at $3,930,345.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Trading of Core Scientific

Several hedge funds have recently made changes to their positions in the company. Barings LLC purchased a new stake in shares of Core Scientific in the first quarter worth about $36,515,000. Vanguard Group Inc. bought a new position in Core Scientific in the 1st quarter valued at $21,973,000. Kensico Capital Management Corp purchased a new position in shares of Core Scientific during the 1st quarter valued at $18,513,000. Vident Advisory LLC bought a new position in shares of Core Scientific in the first quarter worth $4,047,000. Finally, Blair William & Co. IL purchased a new stake in shares of Core Scientific in the first quarter worth $1,156,000.

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.