Core Scientific (NASDAQ:CORZ) Shares Gap Up Following Analyst Upgrade

Core Scientific, Inc. (NASDAQ:CORZ) gapped up prior to trading on Tuesday after BTIG Research raised their price target on the stock from $10.00 to $15.00. The stock had previously closed at $8.73, but opened at $9.37. BTIG Research currently has a buy rating on the stock. Core Scientific shares last traded at $9.15, with a volume of 2,978,536 shares trading hands.

Separately, HC Wainwright upped their price target on Core Scientific from $5.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 3,770 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $9.99, for a total value of $37,662.30. Following the sale, the insider now directly owns 393,428 shares in the company, valued at $3,930,345.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

Several large investors have recently made changes to their positions in the business. Aspect Partners LLC bought a new stake in shares of Core Scientific during the first quarter worth $29,000. Hexagon Capital Partners LLC bought a new stake in shares of Core Scientific during the first quarter worth $34,000. Lindbrook Capital LLC bought a new stake in shares of Core Scientific during the first quarter worth $65,000. Fiduciary Alliance LLC bought a new stake in shares of Core Scientific during the first quarter worth $84,000. Finally, Dorsey & Whitney Trust CO LLC bought a new stake in shares of Core Scientific during the first quarter worth $122,000.

Core Scientific Stock Performance

The firm has a fifty day moving average price of $5.51 and a 200 day moving average price of $3.66.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.14. The firm had revenue of $179.29 million during the quarter, compared to the consensus estimate of $139.60 million. On average, research analysts expect that Core Scientific, Inc. will post -0.17 EPS 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.