Core Scientific (NASDAQ:CORZ) Trading Up 4.6%

Core Scientific, Inc. (NASDAQ:CORZ) shares shot up 4.6% during trading on Wednesday . The stock traded as high as $12.02 and last traded at $12.01. 3,237,282 shares were traded during mid-day trading, a decline of 61% from the average session volume of 8,381,450 shares. The stock had previously closed at $11.48.

Analysts Set New Price Targets

Several brokerages have recently commented on CORZ. Sanford C. Bernstein restated an “outperform” rating and issued a $17.00 target price on shares of Core Scientific in a research note on Tuesday, September 10th. BTIG Research raised their price target on shares of Core Scientific from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. HC Wainwright raised their price target on shares of Core Scientific from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. B. Riley raised shares of Core Scientific from a “neutral” rating to a “buy” rating and raised their price target for the company from $0.50 to $13.00 in a research report on Wednesday, July 17th. Finally, Needham & Company LLC initiated coverage on shares of Core Scientific in a research report on Wednesday, September 4th. They issued a “buy” rating and a $16.00 price target on the stock. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Core Scientific presently has an average rating of “Buy” and a consensus target price of $14.88.

Core Scientific Trading Up 4.0 %

The business’s fifty day moving average price is $10.07 and its 200-day moving average price is $6.90.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data 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 firm had revenue of $141.10 million for the quarter, compared to the consensus estimate of $128.58 million. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, research analysts predict that Core Scientific, Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Transactions at Core Scientific

In other news, insider Todd M. Duchene sold 11,582 shares of Core Scientific stock in a transaction on 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Core Scientific news, insider Todd M. Duchene sold 7,321 shares of the business’s 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 sale, the insider now directly owns 359,877 shares of the company’s stock, valued at $3,379,245.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 directly owns 1,686,474 shares of the company’s stock, valued at $15,869,720.34. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 12,761 shares of company stock valued at $127,080 and sold 27,655 shares valued at $260,087. 32.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Core Scientific

Several hedge funds and other institutional investors have recently modified their holdings of CORZ. Banque Cantonale Vaudoise bought a new position in shares of Core Scientific during the second quarter valued at about $28,000. Aspect Partners LLC bought a new position in shares of Core Scientific during the first quarter valued at about $29,000. Sunbelt Securities Inc. bought a new position in shares of Core Scientific during the second quarter valued at about $33,000. Hexagon Capital Partners LLC bought a new position in shares of Core Scientific during the first quarter valued at about $34,000. Finally, Lindbrook Capital LLC bought a new position in shares of Core Scientific during the first quarter valued at about $65,000.

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.