Core Scientific (NASDAQ:CORZ) PT Raised to $15.00 at BTIG Research

Core Scientific (NASDAQ:CORZ) had its price objective raised by BTIG Research from $10.00 to $15.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target would indicate a potential upside of 57.07% from the stock’s current price.

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

Core Scientific Stock Down 4.0 %

Shares of Core Scientific stock opened at $9.55 on Wednesday. Core Scientific has a 1 year low of $2.61 and a 1 year high of $10.70. The stock has a fifty day moving average price of $5.64 and a 200-day moving average price of $3.70.

Core Scientific (NASDAQ:CORZ) last announced its 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 business had revenue of $179.29 million for the quarter, compared to analysts’ expectations of $139.60 million. As a group, equities research analysts expect that Core Scientific will post -0.17 EPS for the current year.

Insider Transactions at Core Scientific

In other news, insider Todd M. Duchene sold 7,321 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total transaction of $68,744.19. Following the completion of the transaction, the insider now owns 359,877 shares in the company, valued at approximately $3,379,245.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Todd M. Duchene sold 3,770 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $9.99, for a total transaction 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 SEC, which is available at this link. Also, insider Todd M. Duchene sold 7,321 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $9.39, for a total transaction of $68,744.19. Following the completion of the transaction, the insider now owns 359,877 shares of the company’s stock, valued at $3,379,245.03. The disclosure for this sale can be found here. 32.00% of the stock is owned by corporate insiders.

Institutional Trading of Core Scientific

Several institutional investors and hedge funds have recently bought and sold shares of CORZ. Barings LLC bought a new position in Core Scientific in the 1st quarter worth about $36,515,000. Vanguard Group Inc. bought a new position in Core Scientific in the 1st quarter worth about $21,973,000. Kensico Capital Management Corp bought a new position in Core Scientific in the 1st quarter worth about $18,513,000. Vident Advisory LLC bought a new position in shares of Core Scientific during the 1st quarter valued at about $4,047,000. Finally, Blair William & Co. IL bought a new position in shares of Core Scientific during the 1st quarter valued at about $1,156,000.

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.