Recent Research Analysts’ Ratings Updates for Core Scientific (CORZ)

Core Scientific (NASDAQ: CORZ) has recently received a number of price target changes and ratings updates:

• 7/10/2024 – Core Scientific is now covered by analysts at Sanford C. Bernstein. They set an “outperform” rating and a $17.00 price target on the stock.
• 7/10/2024 – Core Scientific had its price target raised by analysts at HC Wainwright from $11.00 to $15.00. They now have a “buy” rating on the stock.
• 7/2/2024 – Core Scientific had its “buy” rating reaffirmed by analysts at LADENBURG THALM/SH SH. They now have a $14.50 price target on the stock.
• 6/26/2024 – Core Scientific had its price target raised by analysts at BTIG Research from $10.00 to $15.00. They now have a “buy” rating on the stock.
• 6/25/2024 – Core Scientific had its price target raised by analysts at HC Wainwright from $5.00 to $11.00. They now have a “buy” rating on the stock.
• 6/6/2024 – Core Scientific had its price target raised by analysts at BTIG Research from $8.00 to $10.00. They now have a “buy” rating on the stock.
• 5/29/2024 – Core Scientific was upgraded by analysts at BTIG Research from a “neutral” rating to a “buy” rating. They now have a $8.00 price target on the stock.

Core Scientific Stock Up 7.4 %

NASDAQ:CORZ traded up $0.75 during trading hours on Monday, hitting $10.85. The stock had a trading volume of 6,167,080 shares, compared to its average volume of 6,999,804. The business’s 50 day moving average is $7.11 and its 200-day moving average is $4.44. Core Scientific, Inc. has a one year low of $2.61 and a one year high of $11.23.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.14. The company had revenue of $179.29 million during the quarter, compared to the consensus estimate of $139.60 million. Analysts forecast that Core Scientific, Inc. will post 0.37 earnings per share for the current year.

Insider Buying and Selling at Core Scientific

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Barings LLC bought a new position in Core Scientific in the 1st quarter valued at approximately $36,515,000. Vanguard Group Inc. acquired a new position in Core Scientific in the 1st quarter valued at approximately $21,973,000. Kensico Capital Management Corp acquired a new stake in shares of Core Scientific during the first quarter worth $18,513,000. Vident Advisory LLC acquired a new stake in shares of Core Scientific during the first quarter worth $4,047,000. Finally, Blair William & Co. IL acquired a new stake in shares of Core Scientific during the first quarter worth $1,156,000.

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.