Core Scientific (NASDAQ:CORZ) Coverage Initiated at Jefferies Financial Group

Equities researchers at Jefferies Financial Group assumed coverage on shares of Core Scientific (NASDAQ:CORZ) in a research note issued to investors on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $19.00 price target on the stock. Jefferies Financial Group’s price target indicates a potential upside of 32.87% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. Canaccord Genuity Group raised their price objective on shares of Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. HC Wainwright lifted their target price on Core Scientific from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Compass Point lifted their price objective on Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 target price on shares of Core Scientific in a research report on Thursday, October 3rd. Finally, LADENBURG THALM/SH SH restated a “buy” rating and issued a $14.50 price objective on shares of Core Scientific in a research note on Tuesday, July 2nd. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, Core Scientific presently has a consensus rating of “Buy” and a consensus target price of $16.71.

Core Scientific Trading Up 0.7 %

Shares of Core Scientific stock opened at $14.30 on Monday. The stock has a 50-day simple moving average of $11.65 and a 200-day simple moving average of $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 announced its quarterly earnings results on Wednesday, August 7th. The company reported ($4.51) EPS for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The business had revenue of $141.10 million during the quarter, compared to the consensus estimate of $128.58 million. The business’s quarterly revenue was up 11.2% on a year-over-year basis. Equities research analysts expect that Core Scientific will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jarrod M. Patten acquired 5,021 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $9.68 per share, for a total transaction of $48,603.28. Following the purchase, the director now directly owns 285,760 shares of the company’s stock, valued at approximately $2,766,156.80. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Core Scientific news, Director Jarrod M. Patten bought 4,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were purchased at an average price of $9.70 per share, for a total transaction of $38,800.00. Following the transaction, the director now directly owns 279,239 shares in the company, valued at approximately $2,708,618.30. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jarrod M. Patten purchased 5,021 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $9.68 per share, with a total value of $48,603.28. Following the completion of the purchase, the director now owns 285,760 shares of the company’s stock, valued at $2,766,156.80. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 12,761 shares of company stock valued at $127,080 in the last 90 days. 32.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Core Scientific

Several institutional investors and hedge funds have recently bought and sold shares of the company. Barings LLC acquired a new position in Core Scientific during the first quarter valued at approximately $36,515,000. ORG Wealth Partners LLC acquired a new position in Core Scientific during the 3rd quarter worth approximately $106,266,000. Vanguard Group Inc. acquired a new stake in Core Scientific in the first quarter valued at approximately $21,973,000. Kensico Capital Management Corp bought a new stake in shares of Core Scientific during the first quarter worth $18,513,000. Finally, Van ECK Associates Corp increased its holdings in shares of Core Scientific by 22.9% during the third quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock worth $19,177,000 after buying an additional 300,942 shares in the last quarter.

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.