Core Scientific, Inc. (NASDAQ:CORZ) Receives Average Rating of “Buy” from Brokerages

Core Scientific, Inc. (NASDAQ:CORZ) has been assigned a consensus rating of “Buy” from the sixteen research firms that are presently covering the stock, MarketBeat reports. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $19.07.

A number of analysts have commented on CORZ shares. Keefe, Bruyette & Woods assumed coverage on Core Scientific in a report on Monday, January 27th. They set an “outperform” rating and a $22.00 price objective for the company. Roth Mkm began coverage on Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 price target for the company. Compass Point dropped their price objective on Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday. B. Riley upped their target price on shares of Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a report on Thursday, November 7th.

Insider Buying and Selling

In other news, CEO Adam Taylor Sullivan sold 369,712 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the completion of the transaction, the chief executive officer now owns 3,758,793 shares in the company, valued at approximately $61,042,798.32. This represents a 8.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Todd M. Duchene sold 129,861 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,849,220.64. Following the completion of the sale, the insider now owns 2,051,649 shares in the company, valued at $29,215,481.76. This represents a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 614,032 shares of company stock valued at $9,534,916. 32.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Core Scientific

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Core Scientific by 25.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 98,077 shares of the company’s stock valued at $1,378,000 after buying an additional 20,000 shares in the last quarter. Highland Peak Capital LLC raised its holdings in Core Scientific by 37.9% during the 3rd quarter. Highland Peak Capital LLC now owns 413,584 shares of the company’s stock valued at $4,905,000 after acquiring an additional 113,584 shares during the period. Mirabella Financial Services LLP purchased a new stake in shares of Core Scientific during the third quarter worth $18,383,000. Van ECK Associates Corp boosted its holdings in shares of Core Scientific by 22.9% in the third quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock worth $19,177,000 after acquiring an additional 300,942 shares during the period. Finally, Capstone Investment Advisors LLC grew its position in shares of Core Scientific by 113.4% in the third quarter. Capstone Investment Advisors LLC now owns 55,000 shares of the company’s stock valued at $652,000 after purchasing an additional 29,230 shares in the last quarter.

Core Scientific Trading Up 2.7 %

Shares of CORZ stock opened at $10.02 on Thursday. The firm has a fifty day simple moving average of $13.43 and a two-hundred day simple moving average of $13.30. Core Scientific has a 12 month low of $2.61 and a 12 month high of $18.63. The firm has a market capitalization of $2.80 billion and a PE ratio of -1.85.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.09. On average, equities analysts predict that Core Scientific will post 0.52 earnings per share for the current fiscal year.

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.