Core Scientific (NASDAQ:CORZ) Receives “Buy” Rating from HC Wainwright

Core Scientific (NASDAQ:CORZ)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They presently have a $17.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 52.33% from the company’s previous close.

Several other research firms also recently weighed in on CORZ. Craig Hallum assumed coverage on shares of Core Scientific in a research report on Tuesday, January 21st. They issued a “buy” rating and a $24.00 target price on the stock. B. Riley lifted their price objective on shares of Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Compass Point cut their target price on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods started coverage on Core Scientific in a research report on Monday, January 27th. They issued an “outperform” rating and a $22.00 target price for the company. Finally, BTIG Research lifted their price target on Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, December 16th. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $19.07.

Core Scientific Stock Up 4.2 %

CORZ opened at $11.16 on Thursday. The firm has a market cap of $3.12 billion and a PE ratio of -2.06. The business has a fifty day simple moving average of $13.26 and a 200-day simple moving average of $13.26. Core Scientific has a fifty-two week low of $2.61 and a fifty-two week high of $18.63.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. The company had revenue of $94.93 million during the quarter, compared to analyst estimates of $97.07 million. On average, equities research analysts anticipate that Core Scientific will post 0.52 EPS for the current fiscal year.

Insider Activity at Core Scientific

In related news, CEO Adam Taylor Sullivan sold 88,380 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the transaction, the chief executive officer now owns 4,128,505 shares of the company’s stock, valued at approximately $58,789,911.20. This trade represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd M. Duchene sold 129,861 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total transaction of $1,849,220.64. Following the completion of the sale, the insider now directly owns 2,051,649 shares of the company’s stock, 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 sold 614,032 shares of company stock valued at $9,534,916. 32.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Core Scientific

Institutional investors have recently bought and sold shares of the stock. Wellington Shields & Co. LLC bought a new stake in shares of Core Scientific during the 4th quarter worth about $26,000. First Horizon Advisors Inc. bought a new position in shares of Core Scientific in the 4th quarter valued at approximately $34,000. Newbridge Financial Services Group Inc. acquired a new stake in Core Scientific in the 4th quarter worth approximately $42,000. Vestcor Inc bought a new stake in Core Scientific during the fourth quarter worth approximately $66,000. Finally, US Bancorp DE acquired a new position in Core Scientific during the fourth quarter valued at approximately $99,000.

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.