Core Scientific, Inc. (NASDAQ:CORZ) Given Average Rating of “Buy” by Analysts

Shares of Core Scientific, Inc. (NASDAQ:CORZ) have been assigned an average rating of “Buy” from the sixteen ratings firms that are presently covering the stock, MarketBeat reports. Fifteen investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $19.07.

A number of research firms recently issued reports on CORZ. Compass Point dropped their target price on shares of Core Scientific from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Cantor Fitzgerald cut their price objective on shares of Core Scientific from $24.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research report on Wednesday, March 12th. HC Wainwright reissued a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Tuesday, March 11th. Finally, Needham & Company LLC lowered their target price on Core Scientific from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th.

Insider Activity at Core Scientific

In other Core Scientific news, Director Jordan Levy purchased 62,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost of $8.01 per share, with a total value of $500,625.00. Following the completion of the transaction, the director now owns 306,887 shares of the company’s stock, valued at $2,458,164.87. The trade was a 25.57 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $16.24, for a total value of $6,004,122.88. Following the completion of the transaction, the chief executive officer now directly owns 3,758,793 shares in the company, valued at approximately $61,042,798.32. This represents a 8.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 530,041 shares of company stock valued at $7,870,352 over the last ninety days. Corporate insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

A number of large investors have recently added to or reduced their stakes in the stock. Xponance Inc. grew its position in shares of Core Scientific by 7.9% during the 4th quarter. Xponance Inc. now owns 12,800 shares of the company’s stock valued at $180,000 after acquiring an additional 937 shares during the period. Summit Investment Advisors Inc. increased its position in Core Scientific by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 18,658 shares of the company’s stock worth $262,000 after buying an additional 1,185 shares during the last quarter. Wellington Shields & Co. LLC bought a new stake in shares of Core Scientific in the fourth quarter valued at $26,000. First Horizon Advisors Inc. bought a new position in shares of Core Scientific during the 4th quarter worth $34,000. Finally, Joel Isaacson & Co. LLC increased its holdings in Core Scientific by 4.5% in the 4th quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company’s stock worth $815,000 after acquiring an additional 2,500 shares during the last quarter.

Core Scientific Trading Up 0.6 %

Shares of CORZ opened at $6.63 on Friday. The firm’s fifty day simple moving average is $8.92 and its two-hundred day simple moving average is $12.58. Core Scientific has a 12 month low of $2.70 and a 12 month high of $18.63. The stock has a market capitalization of $1.96 billion, a P/E ratio of -1.23 and a beta of 6.80.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Wednesday, February 26th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.09. The business had revenue of $94.93 million for the quarter, compared to analyst estimates of $97.07 million. As a group, research analysts predict that Core Scientific will post 0.52 EPS 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.