Core Scientific’s (CORZ) Buy Rating Reiterated at LADENBURG THALM/SH SH

Core Scientific (NASDAQ:CORZ)‘s stock had its “buy” rating reiterated by equities researchers at LADENBURG THALM/SH SH in a report issued on Tuesday, Benzinga reports. They presently have a $14.50 price target on the stock. LADENBURG THALM/SH SH’s price target would suggest a potential upside of 41.74% from the company’s previous close.

CORZ has been the subject of several other research reports. BTIG Research raised their price target on Core Scientific from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. HC Wainwright raised their price objective on Core Scientific from $5.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th.

Core Scientific Stock Performance

Core Scientific stock traded up $0.38 during mid-day trading on Tuesday, hitting $10.23. 3,885,903 shares of the company were exchanged, compared to its average volume of 6,592,728. The business’s 50 day simple moving average is $5.90 and its two-hundred day simple moving average is $3.87. Core Scientific has a 12-month low of $2.61 and a 12-month high of $10.70.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.14. The company had revenue of $179.29 million for the quarter, compared to analysts’ expectations of $139.60 million. On average, analysts anticipate that Core Scientific will post -0.8 EPS for the current fiscal year.

Insider Transactions at Core Scientific

In other news, insider Todd M. Duchene sold 7,321 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total transaction of $68,744.19. Following the sale, the insider now owns 359,877 shares in the company, valued at $3,379,245.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Todd M. Duchene sold 3,770 shares of Core Scientific stock in a transaction 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 transaction, the insider now owns 393,428 shares in the company, valued at $3,930,345.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Todd M. Duchene sold 7,321 shares of Core Scientific stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $9.39, for a total value of $68,744.19. Following the completion of the transaction, the insider now owns 359,877 shares in the company, valued at approximately $3,379,245.03. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CORZ. Aspect Partners LLC acquired a new position in shares of Core Scientific during the first quarter worth about $29,000. Hexagon Capital Partners LLC acquired a new position in shares of Core Scientific during the first quarter worth about $34,000. Lindbrook Capital LLC acquired a new position in shares of Core Scientific during the first quarter worth about $65,000. Fiduciary Alliance LLC acquired a new position in shares of Core Scientific during the first quarter worth about $84,000. Finally, Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Core Scientific during the first quarter worth about $122,000.

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.