Core Scientific (NASDAQ:CORZ) Coverage Initiated at Craig Hallum

Craig Hallum began coverage on shares of Core Scientific (NASDAQ:CORZ) in a report issued on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $24.00 price target on the stock. Craig Hallum’s price objective points to a potential upside of 50.28% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Compass Point upped their price objective on Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. BTIG Research increased their target price on shares of Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Macquarie increased their price target on Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Jefferies Financial Group initiated coverage on Core Scientific in a report on Monday, October 28th. They set a “buy” rating and a $19.00 price target on the stock. Finally, Roth Mkm initiated coverage on Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 price target on the stock. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Core Scientific currently has a consensus rating of “Buy” and an average target price of $18.86.

Core Scientific Stock Up 4.6 %

Shares of CORZ opened at $15.97 on Tuesday. The stock has a market capitalization of $4.46 billion and a P/E ratio of -2.95. Core Scientific has a twelve month low of $2.61 and a twelve month high of $18.63. The company has a 50 day moving average of $15.54 and a 200-day moving average of $12.88.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The business had revenue of $95.35 million for the quarter, compared to analysts’ expectations of $94.80 million. On average, sell-side analysts anticipate that Core Scientific will post 0.5 earnings per share for the current fiscal year.

Insider Activity

In other Core Scientific news, Director Yadin Rozov sold 105,000 shares of Core Scientific stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the completion of the sale, the director now owns 345,239 shares of the company’s stock, valued at approximately $6,252,278.29. The trade was a 23.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Todd M. Duchene sold 25,000 shares of Core Scientific stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total value of $427,500.00. Following the sale, the insider now directly owns 1,661,474 shares of the company’s stock, valued at approximately $28,411,205.40. This represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 348,241 shares of company stock worth $5,436,802.

Hedge Funds Weigh In On Core Scientific

Institutional investors and hedge funds have recently modified their holdings of the business. ORG Wealth Partners LLC increased its holdings in shares of Core Scientific by 0.3% in the fourth quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company’s stock valued at $126,262,000 after purchasing an additional 26,649 shares during the last quarter. Parsifal Capital Management LP increased its holdings in shares of Core Scientific by 3.9% in the third quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company’s stock valued at $64,196,000 after purchasing an additional 204,314 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Core Scientific by 26.7% in the third quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock valued at $62,594,000 after purchasing an additional 1,113,285 shares during the last quarter. State Street Corp increased its holdings in shares of Core Scientific by 17.0% in the third quarter. State Street Corp now owns 4,006,922 shares of the company’s stock valued at $47,522,000 after purchasing an additional 583,493 shares during the last quarter. Finally, Taconic Capital Advisors LP grew its position in Core Scientific by 178.7% in the third quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock worth $32,229,000 after acquiring an additional 1,742,462 shares during the period.

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.