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

Core Scientific, Inc. (NASDAQ:CORZ) has been given an average rating of “Buy” by the eleven analysts that are presently covering the firm, MarketBeat.com reports. Eleven analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $16.50.

Several equities research analysts recently commented on the company. LADENBURG THALM/SH SH restated a “buy” rating and set a $14.50 target price on shares of Core Scientific in a research report on Tuesday, July 2nd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Core Scientific in a research report on Tuesday, September 10th. Macquarie assumed coverage on Core Scientific in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $16.00 price objective for the company. Needham & Company LLC lifted their price target on shares of Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Compass Point lifted their price objective on shares of Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd.

Core Scientific Trading Down 2.3 %

Shares of Core Scientific stock opened at $13.37 on Friday. Core Scientific has a twelve month low of $2.61 and a twelve month high of $14.06. The company has a 50-day simple moving average of $11.57 and a two-hundred day simple moving average of $8.65.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) earnings per share 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 business’s quarterly revenue was up 11.2% on a year-over-year basis. Analysts predict that Core Scientific will post 0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Core Scientific news, Director Jarrod M. Patten bought 4,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was purchased at an average cost of $9.70 per share, for a total transaction of $38,800.00. Following the completion of the acquisition, the director now owns 279,239 shares of the company’s stock, valued at approximately $2,708,618.30. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction, the insider now owns 1,686,474 shares in the company, valued at $15,869,720.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jarrod M. Patten purchased 4,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was purchased at an average price of $9.70 per share, with a total value of $38,800.00. Following the completion of the transaction, the director now owns 279,239 shares of the company’s stock, valued at approximately $2,708,618.30. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 12,761 shares of company stock worth $127,080. Company insiders own 32.00% of the company’s stock.

Hedge Funds Weigh In On Core Scientific

Institutional investors and hedge funds have recently modified their holdings of the stock. Fiduciary Alliance LLC purchased a new stake in shares of Core Scientific during the first quarter valued at about $84,000. Hexagon Capital Partners LLC purchased a new stake in Core Scientific during the 1st quarter valued at about $34,000. Capstone Investment Advisors LLC acquired a new position in shares of Core Scientific in the first quarter valued at about $307,000. Concurrent Investment Advisors LLC acquired a new stake in Core Scientific during the 1st quarter valued at approximately $417,000. Finally, Barings LLC acquired a new position in Core Scientific during the first quarter valued at $36,515,000.

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.