Core Scientific (NASDAQ:CORZ) Now Covered by Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of Core Scientific (NASDAQ:CORZ) in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $16.00 price target on the stock.

A number of other brokerages also recently commented on CORZ. Sanford C. Bernstein reaffirmed an outperform rating and issued a $17.00 price target on shares of Core Scientific in a report on Tuesday, September 10th. Canaccord Genuity Group began coverage on shares of Core Scientific in a report on Monday. They issued a buy rating and a $16.00 price target for the company. LADENBURG THALM/SH SH reaffirmed a buy rating and issued a $14.50 price target on shares of Core Scientific in a report on Tuesday, July 2nd. B. Riley raised shares of Core Scientific from a neutral rating to a buy rating and increased their price target for the company from $0.50 to $13.00 in a report on Wednesday, July 17th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $20.00 price target on shares of Core Scientific in a report on Tuesday, September 3rd. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $15.10.

Core Scientific Stock Up 4.3 %

Shares of Core Scientific stock opened at $12.49 on Monday. The company has a fifty day moving average of $10.22 and a 200 day moving average of $7.13. Core Scientific has a fifty-two week low of $2.61 and a fifty-two week high of $12.72.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) EPS for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The business had revenue of $141.10 million for the quarter, compared to analyst estimates of $128.58 million. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. On average, analysts anticipate that Core Scientific will post 0.01 earnings per share for the current year.

Insider Buying and Selling at Core Scientific

In other news, Director Jarrod M. Patten bought 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were acquired at an average price of $9.70 per share, for a total transaction of $38,800.00. Following the completion of the transaction, the director now directly owns 279,239 shares in the company, valued at approximately $2,708,618.30. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Jarrod M. Patten acquired 4,000 shares of Core Scientific stock in a transaction that occurred on Wednesday, August 28th. The shares were purchased at an average price of $9.70 per share, for a total transaction of $38,800.00. Following the completion of the transaction, the director now owns 279,239 shares in the company, valued at approximately $2,708,618.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Todd M. Duchene sold 11,582 shares of Core Scientific stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.41, for a total value of $108,986.62. Following the completion of the sale, the insider now owns 1,686,474 shares in the company, valued at approximately $15,869,720.34. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 12,761 shares of company stock valued at $127,080. Company insiders own 32.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CORZ. Banque Cantonale Vaudoise acquired a new position in shares of Core Scientific during the 2nd quarter worth about $28,000. Sunbelt Securities Inc. acquired a new position in shares of Core Scientific during the 2nd quarter worth about $33,000. Rise Advisors LLC acquired a new position in shares of Core Scientific during the 2nd quarter worth about $65,000. Aspect Partners LLC purchased a new stake in shares of Core Scientific in the 1st quarter valued at about $29,000. Finally, Hexagon Capital Partners LLC purchased a new stake in shares of Core Scientific in the 1st quarter valued at about $34,000.

About Core Scientific

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.