Core Scientific, Inc. (NASDAQ:CORZ – Get Free Report) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 35,610,000 shares, an increase of 10.4% from the August 15th total of 32,260,000 shares. Approximately 17.4% of the company’s stock are sold short. Based on an average daily trading volume, of 13,330,000 shares, the days-to-cover ratio is currently 2.7 days.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on CORZ. HC Wainwright raised their price target on shares of Core Scientific from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. BTIG Research upped their price target on shares of Core Scientific from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Needham & Company LLC started coverage on Core Scientific in a research note on Wednesday, September 4th. They set a “buy” rating and a $16.00 price objective for the company. B. Riley upgraded Core Scientific from a “neutral” rating to a “buy” rating and upped their target price for the stock from $0.50 to $13.00 in a research note on Wednesday, July 17th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $17.00 price target on shares of Core Scientific in a research report on Tuesday, September 10th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $14.88.
Check Out Our Latest Research Report on CORZ
Insider Buying and Selling at Core Scientific
Institutional Trading of Core Scientific
Several institutional investors have recently made changes to their positions in the company. Barings LLC purchased a new position in shares of Core Scientific during the 1st quarter worth approximately $36,515,000. Vanguard Group Inc. purchased a new position in Core Scientific in the 1st quarter valued at approximately $21,973,000. Kensico Capital Management Corp purchased a new stake in shares of Core Scientific during the first quarter worth $18,513,000. Van ECK Associates Corp acquired a new stake in shares of Core Scientific in the second quarter valued at $12,239,000. Finally, Vident Advisory LLC purchased a new position in Core Scientific in the first quarter valued at $4,047,000.
Core Scientific Stock Performance
Shares of NASDAQ:CORZ traded up $0.55 during midday trading on Wednesday, hitting $12.03. The company’s stock had a trading volume of 16,826,851 shares, compared to its average volume of 8,464,199. The business’s 50 day simple moving average is $10.07 and its 200 day simple moving average is $6.90. Core Scientific has a 12-month low of $2.61 and a 12-month high of $12.48.
Core Scientific (NASDAQ:CORZ – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The business had revenue of $141.10 million during the quarter, compared to the consensus estimate of $128.58 million. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, sell-side analysts forecast that Core Scientific will post 0.01 earnings per share 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.
Featured Stories
- Five stocks we like better than Core Scientific
- Consumer Staples Stocks, Explained
- How Much Can You Make in Stocks in One Month?
- Top Stocks Investing in 5G Technology
- This Is the Top Large-Cap Stock Insiders Are Buying
- How to Calculate Options Profits
- Capitalize on Micron’s 24% Drop—Wall Street Eyes Major Upside
Receive News & Ratings for Core Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Core Scientific and related companies with MarketBeat.com's FREE daily email newsletter.