Core Scientific (NASDAQ:CORZ) Given New $11.00 Price Target at HC Wainwright

Core Scientific (NASDAQ:CORZ) had its price objective hoisted by HC Wainwright from $5.00 to $11.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Core Scientific’s Q2 2024 earnings at ($0.05) EPS, Q3 2024 earnings at ($0.20) EPS, Q4 2024 earnings at ($0.20) EPS, FY2024 earnings at ($0.80) EPS and FY2025 earnings at $0.15 EPS.

Separately, BTIG Research raised their price target on shares of Core Scientific from $8.00 to $10.00 and gave the company a buy rating in a report on Thursday, June 6th.

Core Scientific Price Performance

NASDAQ:CORZ opened at $9.30 on Tuesday. Core Scientific has a 12 month low of $2.61 and a 12 month high of $10.70. The business’s 50-day moving average is $5.77 and its two-hundred day moving average is $3.76.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.05 by $0.14. The company had revenue of $179.29 million for the quarter, compared to analysts’ expectations of $139.60 million. As a group, equities research analysts predict that Core Scientific will post -0.8 EPS for the current year.

Insider Buying and Selling at Core Scientific

In other news, insider Todd M. Duchene sold 3,770 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $9.99, for a total transaction of $37,662.30. Following the completion of the transaction, the insider now directly owns 393,428 shares in the company, valued at approximately $3,930,345.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Core Scientific news, insider Todd M. Duchene sold 3,770 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $9.99, for a total transaction of $37,662.30. Following the sale, the insider now owns 393,428 shares in the company, valued at $3,930,345.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Todd M. Duchene sold 7,321 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total value of $68,744.19. Following the transaction, the insider now directly owns 359,877 shares in the company, valued at approximately $3,379,245.03. The disclosure for this sale can be found here. 32.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Aspect Partners LLC acquired a new stake in Core Scientific during the first quarter worth about $29,000. Kensico Capital Management Corp bought a new position in shares of Core Scientific during the first quarter valued at approximately $18,513,000. Anson Funds Management LP acquired a new stake in shares of Core Scientific during the 1st quarter worth approximately $1,000,000. Vident Advisory LLC bought a new position in Core Scientific during the 1st quarter worth $4,047,000. Finally, Vanguard Group Inc. bought a new position in Core Scientific during the 1st quarter worth $21,973,000.

Core Scientific Company Profile

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.