Core Scientific, Inc. (NASDAQ:CORZ) Given Consensus Recommendation of “Buy” by Brokerages

Core Scientific, Inc. (NASDAQ:CORZ) has been assigned an average recommendation of “Buy” from the seven brokerages that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $14.71.

CORZ has been the subject of several analyst reports. LADENBURG THALM/SH SH reiterated a “buy” rating and set a $14.50 price target on shares of Core Scientific in a research report on Tuesday, July 2nd. BTIG Research lifted their price target on shares of Core Scientific from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Sanford C. Bernstein started coverage on shares of Core Scientific in a research note on Wednesday, July 10th. They set an “outperform” rating and a $17.00 price objective on the stock. B. Riley raised shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Wednesday. Finally, HC Wainwright lifted their price objective on shares of Core Scientific from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th.

Insider Buying and Selling at Core Scientific

In other news, insider Todd M. Duchene sold 3,770 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $9.99, for a total value of $37,662.30. Following the sale, the insider now owns 393,428 shares of the company’s stock, valued at $3,930,345.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Todd M. Duchene sold 3,770 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $9.99, for a total value of $37,662.30. Following the sale, the insider now owns 393,428 shares of the company’s stock, valued at $3,930,345.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Todd M. Duchene sold 7,321 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total transaction of $68,744.19. Following the transaction, the insider now owns 359,877 shares in the company, valued at $3,379,245.03. The disclosure for this sale can be found here. Insiders own 32.00% of the company’s stock.

Hedge Funds Weigh In On Core Scientific

A number of institutional investors have recently added to or reduced their stakes in CORZ. Rise Advisors LLC bought a new stake in Core Scientific during the second quarter worth about $65,000. Aspect Partners LLC bought a new stake in Core Scientific during the first quarter worth about $29,000. Hexagon Capital Partners LLC bought a new stake in Core Scientific during the first quarter worth about $34,000. Lindbrook Capital LLC bought a new stake in Core Scientific during the first quarter worth about $65,000. Finally, Fiduciary Alliance LLC bought a new stake in Core Scientific during the first quarter worth about $84,000.

Core Scientific Trading Up 6.3 %

Shares of NASDAQ:CORZ opened at $11.70 on Wednesday. Core Scientific has a one year low of $2.61 and a one year high of $11.81. The company has a 50 day moving average of $7.43 and a 200-day moving average of $4.57.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.05 by $0.14. The business had revenue of $179.29 million for the quarter, compared to analyst estimates of $139.60 million. Research analysts forecast that Core Scientific will post 0.37 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.