Core Scientific (NASDAQ:CORZ) Coverage Initiated by Analysts at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Core Scientific (NASDAQ:CORZ) in a report published on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $16.00 price objective on the stock.

CORZ has been the subject of a number of other research reports. BTIG Research raised their price objective on Core Scientific from $10.00 to $15.00 and gave the company a buy rating in a research report on Wednesday, June 26th. B. Riley upgraded Core Scientific from a neutral rating to a buy rating and raised their price objective for the company from $0.50 to $13.00 in a research report on Wednesday, July 17th. HC Wainwright raised their price objective on Core Scientific from $11.00 to $15.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Cantor Fitzgerald reiterated an overweight rating and issued a $20.00 price target on shares of Core Scientific in a research report on Tuesday. Finally, LADENBURG THALM/SH SH reiterated a buy rating and issued a $14.50 price target on shares of Core Scientific in a research report on Tuesday, July 2nd. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $14.88.

Core Scientific Trading Up 5.0 %

Shares of CORZ stock opened at $9.87 on Wednesday. Core Scientific has a 52-week low of $2.61 and a 52-week high of $12.25. The stock has a fifty day simple moving average of $9.98 and a two-hundred day simple moving average of $6.42.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The firm had revenue of $141.10 million during the quarter, compared to analysts’ expectations of $128.58 million. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research analysts anticipate that Core Scientific will post 0.01 earnings per share for the current year.

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 3,770 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were 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 owns 393,428 shares of the company’s stock, valued at $3,930,345.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Core Scientific news, insider Todd M. Duchene sold 3,770 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were 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 owns 393,428 shares of the company’s stock, valued at $3,930,345.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Todd M. Duchene sold 7,321 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total transaction of $68,744.19. Following the completion of the sale, the insider now directly owns 359,877 shares of the company’s stock, valued at approximately $3,379,245.03. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 10,521 shares of company stock valued at $102,328 and sold 31,425 shares valued at $297,749. 32.00% of the stock is owned by insiders.

Institutional Trading of Core Scientific

Institutional investors and hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise bought a new stake in shares of Core Scientific during the second quarter valued at approximately $28,000. Sunbelt Securities Inc. bought a new stake in shares of Core Scientific during the second quarter valued at approximately $33,000. Rise Advisors LLC bought a new stake in shares of Core Scientific during the second quarter valued at approximately $65,000. Aspect Partners LLC bought a new stake in shares of Core Scientific during the first quarter valued at approximately $29,000. Finally, Hexagon Capital Partners LLC bought a new stake in shares of Core Scientific during the first quarter valued at approximately $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.