Core Scientific (NASDAQ:CORZ) Given New $17.00 Price Target at B. Riley

Core Scientific (NASDAQ:CORZ) had its price objective lifted by research analysts at B. Riley from $16.00 to $17.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price objective suggests a potential upside of 3.03% from the stock’s current price.

Several other equities analysts also recently issued reports on the company. Jefferies Financial Group initiated coverage on Core Scientific in a research report on Monday, October 28th. They set a “buy” rating and a $19.00 price objective for the company. Macquarie initiated coverage on Core Scientific in a research report on Wednesday, September 25th. They set an “outperform” rating and a $16.00 price objective for the company. Compass Point boosted their price objective on Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. HC Wainwright boosted their price objective on Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $17.00 target price on shares of Core Scientific in a research report on Tuesday, September 10th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Core Scientific has an average rating of “Buy” and an average target price of $17.21.

Core Scientific Stock Up 15.1 %

Shares of NASDAQ:CORZ traded up $2.17 during trading on Thursday, hitting $16.50. 24,599,102 shares of the company traded hands, compared to its average volume of 8,818,101. The business’s fifty day moving average is $12.08 and its 200-day moving average is $9.25. Core Scientific has a one year low of $2.61 and a one year high of $16.70.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Wednesday, August 7th. The company reported ($4.51) EPS for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The firm had revenue of $141.10 million during the quarter, compared to the consensus estimate of $128.58 million. Core Scientific’s revenue for the quarter was up 11.2% compared to the same quarter last year. Analysts predict that Core Scientific will post 0.81 EPS for the current year.

Insider Activity

In related news, Director Jarrod M. Patten acquired 4,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was bought at an average price of $9.70 per share, for a total transaction of $38,800.00. Following the transaction, the director now owns 279,239 shares of the company’s stock, valued at approximately $2,708,618.30. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jarrod M. Patten purchased 4,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were acquired at an average cost of $9.70 per share, with a total value of $38,800.00. Following the completion of the purchase, the director now owns 279,239 shares of the company’s stock, valued at $2,708,618.30. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jarrod M. Patten purchased 5,021 shares of the company’s 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 purchase, the director now directly owns 285,760 shares of the company’s stock, valued at $2,766,156.80. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 12,761 shares of company stock worth $127,080.

Institutional Investors Weigh In On Core Scientific

A number of large investors have recently bought and sold shares of CORZ. Concurrent Investment Advisors LLC bought a new stake in Core Scientific in the first quarter worth $417,000. Barings LLC bought a new stake in Core Scientific in the first quarter worth $36,515,000. Blair William & Co. IL bought a new stake in Core Scientific during the first quarter valued at about $1,156,000. Dorsey & Whitney Trust CO LLC bought a new stake in Core Scientific during the first quarter valued at about $122,000. Finally, Vanguard Group Inc. bought a new stake in Core Scientific during the first quarter valued at about $21,973,000.

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.