Core Scientific (NASDAQ:CORZ) Now Covered by Analysts at Sanford C. Bernstein

Sanford C. Bernstein started coverage on shares of Core Scientific (NASDAQ:CORZ) in a report released on Wednesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $17.00 price target on the stock.

A number of other research firms have also weighed in on CORZ. LADENBURG THALM/SH SH restated a buy rating and issued a $14.50 target price on shares of Core Scientific in a report on Tuesday, July 2nd. HC Wainwright raised their price target on shares of Core Scientific from $5.00 to $11.00 and gave the stock a buy rating in a research note on Tuesday, June 25th. Finally, BTIG Research raised their price target on shares of Core Scientific from $10.00 to $15.00 and gave the stock a buy rating in a research note on Wednesday, June 26th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $14.00.

Core Scientific Price Performance

CORZ stock opened at $10.10 on Wednesday. The company’s 50-day moving average is $7.11 and its 200-day moving average is $4.40. Core Scientific has a 1 year low of $2.61 and a 1 year high of $11.00.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. The business had revenue of $179.29 million during the quarter, compared to analyst estimates of $139.60 million. As a group, equities analysts predict that Core Scientific will post -0.07 EPS for the current fiscal year.

Insider Activity at Core Scientific

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC purchased a new position in Core Scientific in the second quarter worth $65,000. Aspect Partners LLC bought a new stake in Core Scientific in the first quarter worth $29,000. Hexagon Capital Partners LLC bought a new stake in Core Scientific in the first quarter worth $34,000. Lindbrook Capital LLC bought a new stake in Core Scientific in the first quarter worth $65,000. Finally, Fiduciary Alliance LLC bought a new stake in Core Scientific in the first quarter worth $84,000.

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.