Core Scientific (NASDAQ:CORZ) Price Target Raised to $17.00 at HC Wainwright

Core Scientific (NASDAQ:CORZ) had its target price lifted by HC Wainwright from $15.00 to $17.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also recently commented on CORZ. B. Riley increased their target price on Core Scientific from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Sanford C. Bernstein restated an “outperform” rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Tuesday, September 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 target price on shares of Core Scientific in a research note on Thursday, October 3rd. Needham & Company LLC boosted their target price on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group started coverage on Core Scientific in a research report on Monday, October 28th. They issued a “buy” rating and a $19.00 target price on the stock. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $17.21.

Core Scientific Stock Up 3.0 %

Shares of NASDAQ:CORZ traded up $0.50 on Thursday, hitting $16.96. The stock had a trading volume of 12,164,781 shares, compared to its average volume of 8,864,858. The firm’s 50 day moving average price is $12.21 and its 200-day moving average price is $9.30. Core Scientific has a twelve month low of $2.61 and a twelve month high of $17.00.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The firm had revenue of $141.10 million for the quarter, compared to the consensus estimate of $128.58 million. Core Scientific’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts predict that Core Scientific will post 0.81 earnings per share for the current fiscal year.

Insider Transactions at Core Scientific

In related news, Director Jarrod M. Patten purchased 5,021 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $9.68 per share, for a total transaction of $48,603.28. Following the completion of the acquisition, the director now owns 285,760 shares of the company’s stock, valued at approximately $2,766,156.80. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Core Scientific news, Director Jarrod M. Patten purchased 4,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were bought at an average price of $9.70 per share, for a total transaction of $38,800.00. Following the completion of the acquisition, the director now owns 279,239 shares in the company, valued at approximately $2,708,618.30. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jarrod M. Patten bought 5,021 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $9.68 per share, with a total value of $48,603.28. Following the completion of the transaction, the director now owns 285,760 shares in the company, valued at $2,766,156.80. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 12,761 shares of company stock valued at $127,080.

Institutional Trading of Core Scientific

Several institutional investors have recently added to or reduced their stakes in the stock. Barings LLC bought a new stake in shares of Core Scientific during the 1st quarter worth $36,515,000. ORG Wealth Partners LLC bought a new position in Core Scientific in the 3rd quarter worth approximately $106,266,000. Vanguard Group Inc. bought a new stake in Core Scientific during the 1st quarter valued at $21,973,000. Kensico Capital Management Corp purchased a new stake in shares of Core Scientific during the first quarter worth $18,513,000. Finally, Van ECK Associates Corp bought a new position in shares of Core Scientific in the second quarter worth $12,239,000.

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.