Core Scientific (NASDAQ:CORZ) Stock Rating Upgraded by Rothschild & Co Redburn

Core Scientific (NASDAQ:CORZ) was upgraded by analysts at Rothschild & Co Redburn to a “hold” rating in a note issued to investors on Monday, Zacks reports.

A number of other research analysts also recently issued reports on the company. Needham & Company LLC lifted their price target on Core Scientific from $29.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Keefe, Bruyette & Woods upgraded Core Scientific from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $25.00 to $28.00 in a research note on Thursday, July 30th. B. Riley Financial lifted their target price on Core Scientific from $33.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Capital One Financial set a $33.00 target price on shares of Core Scientific in a research report on Thursday, July 30th. Finally, Loop Capital set a $40.00 price target on shares of Core Scientific in a report on Friday, June 12th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.16.

Core Scientific Stock Performance

Shares of CORZ opened at $18.36 on Monday. The company has a 50 day moving average price of $19.49 and a 200-day moving average price of $21.03. Core Scientific has a fifty-two week low of $13.35 and a fifty-two week high of $30.46. The stock has a market capitalization of $5.90 billion, a PE ratio of -4.15 and a beta of 5.48.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($3.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The company had revenue of $164.20 million for the quarter, compared to the consensus estimate of $144.83 million. Equities research analysts forecast that Core Scientific will post -1.36 EPS for the current year.

Insiders Place Their Bets

In other news, insider Todd M. Duchene sold 10,000 shares of Core Scientific stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $18.67, for a total transaction of $186,700.00. Following the completion of the sale, the insider directly owned 1,217,896 shares in the company, valued at approximately $22,738,118.32. The trade was a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eric Weiss acquired 6,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were bought at an average cost of $16.33 per share, for a total transaction of $97,980.00. Following the completion of the acquisition, the director directly owned 265,262 shares of the company’s stock, valued at approximately $4,331,728.46. The trade was a 2.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 19,000 shares of company stock valued at $342,290 and have sold 80,000 shares valued at $1,703,700. 1.70% of the stock is owned by insiders.

Institutional Trading of Core Scientific

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its stake in shares of Core Scientific by 1,371.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,177 shares of the company’s stock worth $30,000 after purchasing an additional 1,097 shares during the last quarter. CoreCap Advisors LLC purchased a new stake in Core Scientific in the second quarter valued at approximately $36,000. Rakuten Securities Inc. acquired a new position in Core Scientific in the 2nd quarter worth approximately $47,000. Larson Financial Group LLC increased its holdings in Core Scientific by 936.7% in the 4th quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock worth $27,000 after buying an additional 1,686 shares during the period. Finally, GAMMA Investing LLC raised its position in Core Scientific by 34.5% during the 2nd quarter. GAMMA Investing LLC now owns 3,049 shares of the company’s stock worth $78,000 after buying an additional 782 shares during the last quarter.

About Core Scientific

Core Scientific, Inc (NASDAQ: CORZ) is a digital infrastructure company that develops and operates data centers for high-performance computing. Its business has historically centered on large-scale bitcoin mining, including the deployment and operation of specialized computing equipment and supporting power, networking and facility infrastructure.

The company also provides hosting and colocation services for digital asset miners and other high-performance computing customers. Core Scientific has increasingly focused on expanding its data center platform for artificial intelligence and other compute-intensive workloads, including infrastructure designed to support graphics processing unit (GPU) deployments.

Founded in 2017, Core Scientific operates data center facilities in the United States and emerged from Chapter 11 bankruptcy protection in January 2024.