Analysts Set Core Scientific, Inc. (NASDAQ:CORZ) PT at $16.50

Core Scientific, Inc. (NASDAQ:CORZ) has received an average rating of “Buy” from the twelve analysts that are covering the stock, Marketbeat reports. Twelve analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $16.71.

A number of research analysts have weighed in on CORZ shares. HC Wainwright upped their target price on Core Scientific from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $17.00 price objective on shares of Core Scientific in a report on Tuesday, September 10th. Canaccord Genuity Group started coverage on shares of Core Scientific in a report on Monday, September 23rd. They set a “buy” rating and a $16.00 target price on the stock. Jefferies Financial Group started coverage on shares of Core Scientific in a research note on Monday. They issued a “buy” rating and a $19.00 price target for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price objective on shares of Core Scientific in a research note on Thursday, October 3rd.

Core Scientific Stock Up 0.7 %

Shares of NASDAQ CORZ opened at $14.30 on Friday. The firm’s fifty day moving average is $11.65 and its 200 day moving average is $8.77. Core Scientific has a 52 week low of $2.61 and a 52 week high of $14.64.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The company had revenue of $141.10 million during the quarter, compared to the consensus estimate of $128.58 million. The company’s revenue was up 11.2% compared to the same quarter last year. Equities research analysts expect that Core Scientific will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Todd M. Duchene sold 11,582 shares of the business’s 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 owns 1,686,474 shares of the company’s stock, valued at $15,869,720.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Todd M. Duchene sold 11,582 shares of Core Scientific stock in a transaction dated Friday, August 16th. The stock was 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jarrod M. Patten bought 4,000 shares of Core Scientific stock in a transaction that occurred on Wednesday, August 28th. The stock was purchased at an average cost of $9.70 per share, with a total value of $38,800.00. Following the completion of the acquisition, the director now directly owns 279,239 shares in the company, valued at $2,708,618.30. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 12,761 shares of company stock valued at $127,080. 32.00% of the stock is owned by insiders.

Institutional Trading of Core Scientific

Several institutional investors have recently made changes to their positions in CORZ. Banque Cantonale Vaudoise purchased a new stake in Core Scientific in the 2nd quarter worth $28,000. Aspect Partners LLC bought a new position in Core Scientific during the first quarter valued at approximately $29,000. Sunbelt Securities Inc. purchased a new position in Core Scientific during the 2nd quarter valued at approximately $33,000. Hexagon Capital Partners LLC bought a new stake in Core Scientific in the 1st quarter worth approximately $34,000. Finally, Rise Advisors LLC bought a new stake in Core Scientific in the 2nd quarter worth approximately $65,000.

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.