Core Scientific (NASDAQ:CORZ) Hits New 52-Week High at $12.55

Core Scientific, Inc. (NASDAQ:CORZ) reached a new 52-week high during trading on Thursday . The company traded as high as $12.55 and last traded at $12.20, with a volume of 507812 shares changing hands. The stock had previously closed at $12.03.

Analyst Ratings Changes

A number of research firms have commented on CORZ. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 target price on shares of Core Scientific in a research report on Tuesday, September 3rd. BTIG Research upped their target price 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. B. Riley raised shares of 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 note on Wednesday, July 17th. Needham & Company LLC assumed coverage on shares of Core Scientific in a research note on Wednesday, September 4th. They set a “buy” rating and a $16.00 target price on the stock. Finally, LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $14.50 target price on shares of Core Scientific in a research note on Tuesday, July 2nd. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $14.88.

Core Scientific Trading Up 2.8 %

The firm’s 50 day moving average is $10.11 and its two-hundred day moving average is $6.93.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The business had revenue of $141.10 million for the quarter, compared to the consensus estimate of $128.58 million. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, analysts predict that Core Scientific, Inc. will post 0.01 earnings per share for the current year.

Insider Buying and Selling at Core Scientific

In other news, Director Jarrod M. Patten acquired 4,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were bought at an average cost of $9.70 per share, with a total value of $38,800.00. Following the transaction, the director now owns 279,239 shares in the company, valued at approximately $2,708,618.30. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Jarrod M. Patten bought 4,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was acquired at an average price of $9.70 per share, for a total transaction of $38,800.00. Following the acquisition, the director now owns 279,239 shares in the company, valued at approximately $2,708,618.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jarrod M. Patten bought 5,021 shares of the stock in a transaction dated 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 acquisition, the director now owns 285,760 shares in the company, valued at approximately $2,766,156.80. The disclosure for this purchase can be found here. In the last three months, insiders have bought 12,761 shares of company stock valued at $127,080 and have sold 27,655 shares valued at $260,087. Insiders own 32.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new stake in Core Scientific during the 2nd quarter worth $140,000. Heritage Oak Wealth Advisors LLC acquired a new stake in Core Scientific during the 2nd quarter worth $2,334,000. Point72 Asset Management L.P. acquired a new stake in Core Scientific during the 2nd quarter worth $4,222,000. Sunbelt Securities Inc. acquired a new stake in Core Scientific during the 2nd quarter worth $33,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Core Scientific during the 2nd quarter worth $369,000.

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.