Core Scientific (NASDAQ:CORZ) PT Raised to $11.00

Core Scientific (NASDAQ:CORZ) had its target price lifted by HC Wainwright from $5.00 to $11.00 in a report issued on Tuesday, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Core Scientific’s Q2 2024 earnings at ($0.05) EPS, Q3 2024 earnings at ($0.20) EPS, Q4 2024 earnings at ($0.20) EPS, FY2024 earnings at ($0.80) EPS and FY2025 earnings at $0.15 EPS.

Separately, BTIG Research boosted their target price on Core Scientific from $8.00 to $10.00 and gave the company a buy rating in a research report on Thursday, June 6th.

Core Scientific Price Performance

CORZ opened at $9.30 on Tuesday. Core Scientific has a 1-year low of $2.61 and a 1-year high of $10.70. The company’s 50 day simple moving average is $5.77 and its two-hundred day simple moving average is $3.76.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.14. The firm had revenue of $179.29 million during the quarter, compared to analysts’ expectations of $139.60 million. Equities research analysts anticipate that Core Scientific will post -0.8 EPS for the current year.

Insiders Place Their Bets

In other news, insider Todd M. Duchene sold 7,321 shares of Core Scientific stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Core Scientific news, insider Todd M. Duchene sold 7,321 shares of Core Scientific stock in a transaction dated 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 sale, the insider now directly owns 359,877 shares of the company’s stock, valued at approximately $3,379,245.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Todd M. Duchene sold 3,770 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $9.99, for a total value of $37,662.30. Following the completion of the transaction, the insider now directly owns 393,428 shares of the company’s stock, valued at $3,930,345.72. The disclosure for this sale can be found here. Insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Barings LLC acquired a new position in Core Scientific during the first quarter worth approximately $36,515,000. Vanguard Group Inc. purchased a new position in shares of Core Scientific during the first quarter worth approximately $21,973,000. Kensico Capital Management Corp acquired a new position in shares of Core Scientific in the 1st quarter valued at $18,513,000. Vident Advisory LLC acquired a new stake in Core Scientific during the 1st quarter worth $4,047,000. Finally, Blair William & Co. IL acquired a new stake in Core Scientific during the 1st quarter worth $1,156,000.

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.