Core Scientific (NASDAQ:CORZ) Given New $18.00 Price Target at Macquarie

Core Scientific (NASDAQ:CORZ) had its price target lifted by Macquarie from $15.00 to $18.00 in a report published on Monday,Benzinga reports. Macquarie currently has a neutral rating on the stock.

Several other research analysts have also issued reports on the company. Roth Capital dropped their target price on Core Scientific from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, August 22nd. Jefferies Financial Group boosted their price objective on Core Scientific from $16.00 to $22.00 and gave the company a “buy” rating in a report on Monday, August 18th. Barclays lowered Core Scientific to an “underweight” rating in a research note on Tuesday, July 8th. Needham & Company LLC downgraded Core Scientific from a “moderate buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research report on Thursday, July 10th. Finally, Citizens Jmp cut shares of Core Scientific from a “strong-buy” rating to a “hold” rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Core Scientific currently has an average rating of “Hold” and an average price target of $18.71.

Core Scientific Stock Up 0.2%

NASDAQ CORZ opened at $17.97 on Monday. Core Scientific has a 52 week low of $6.20 and a 52 week high of $18.63. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of -32.09 and a beta of 6.59. The company has a fifty day moving average of $14.84 and a two-hundred day moving average of $12.03.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Friday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.03. The firm had revenue of $78.63 million during the quarter, compared to the consensus estimate of $82.09 million. The business’s revenue was down 44.3% on a year-over-year basis. Equities research analysts anticipate that Core Scientific will post 0.52 EPS for the current year.

Institutional Trading of Core Scientific

A number of hedge funds have recently added to or reduced their stakes in CORZ. HHM Wealth Advisors LLC grew its holdings in Core Scientific by 96.5% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company’s stock worth $33,000 after acquiring an additional 946 shares in the last quarter. Osaic Holdings Inc. raised its holdings in shares of Core Scientific by 112.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after purchasing an additional 1,066 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Core Scientific by 68.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,690 shares of the company’s stock worth $46,000 after purchasing an additional 1,092 shares during the period. Bernard Wealth Management Corp. bought a new position in shares of Core Scientific during the second quarter valued at approximately $51,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Core Scientific by 396.8% during the second quarter. PNC Financial Services Group Inc. now owns 3,731 shares of the company’s stock valued at $64,000 after purchasing an additional 2,980 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.