Core Scientific (NASDAQ:CORZ) Given “Neutral” Rating at Roth Capital

Roth Capital reaffirmed their neutral rating on shares of Core Scientific (NASDAQ:CORZ) in a report issued on Tuesday,Benzinga reports. Roth Capital currently has a $20.00 price target on the stock.

Several other research analysts have also issued reports on the company. BTIG Research restated a “neutral” rating and set a $20.00 target price on shares of Core Scientific in a research report on Monday. Roth Mkm restated a “buy” rating and set a $20.00 target price on shares of Core Scientific in a research report on Thursday, June 26th. JMP Securities began coverage on Core Scientific in a research report on Thursday, May 22nd. They set a “market outperform” rating and a $15.00 target price for the company. Citigroup initiated coverage on Core Scientific in a research report on Thursday, May 22nd. They set an “outperform” rating for the company. Finally, HC Wainwright reiterated a “neutral” rating on shares of Core Scientific in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.44.

Core Scientific Trading Down 5.5%

CORZ opened at $14.02 on Tuesday. The firm has a market cap of $4.18 billion, a P/E ratio of -2.79 and a beta of 6.71. Core Scientific has a 12 month low of $6.20 and a 12 month high of $18.63. The stock has a 50-day moving average of $11.95 and a 200 day moving average of $11.13.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $79.53 million for the quarter, compared to analysts’ expectations of $92.04 million. During the same quarter last year, the firm earned $0.78 EPS. The firm’s quarterly revenue was down 55.6% on a year-over-year basis. On average, research analysts forecast that Core Scientific will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Todd M. Duchene sold 60,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $11.33, for a total transaction of $679,800.00. Following the completion of the sale, the insider owned 2,100,102 shares in the company, valued at approximately $23,794,155.66. This represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Yadin Rozov acquired 110,000 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were acquired at an average price of $10.87 per share, with a total value of $1,195,700.00. Following the acquisition, the director owned 475,687 shares in the company, valued at approximately $5,170,717.69. The trade was a 30.08% increase in their position. The disclosure for this purchase can be found here. Insiders sold 117,759 shares of company stock valued at $1,391,434 in the last three months. 1.40% of the stock is currently owned by insiders.

Institutional Trading of Core Scientific

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Core Scientific by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 20,578,100 shares of the company’s stock valued at $148,985,000 after acquiring an additional 1,199,448 shares during the period. Beryl Capital Management LLC increased its position in shares of Core Scientific by 24.3% in the 4th quarter. Beryl Capital Management LLC now owns 18,179,586 shares of the company’s stock valued at $255,423,000 after acquiring an additional 3,548,396 shares during the period. Driehaus Capital Management LLC increased its position in shares of Core Scientific by 112.1% in the 4th quarter. Driehaus Capital Management LLC now owns 10,264,204 shares of the company’s stock valued at $144,212,000 after acquiring an additional 5,424,901 shares during the period. FMR LLC increased its position in shares of Core Scientific by 2,937.7% in the 4th quarter. FMR LLC now owns 7,436,229 shares of the company’s stock valued at $104,479,000 after acquiring an additional 7,191,428 shares during the period. Finally, Fred Alger Management LLC increased its position in shares of Core Scientific by 46.7% in the 1st quarter. Fred Alger Management LLC now owns 6,473,552 shares of the company’s stock valued at $46,869,000 after acquiring an additional 2,059,985 shares during the period.

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.