Core Scientific (NASDAQ:CORZ) Given Buy Rating at Canaccord Genuity Group

Core Scientific (NASDAQ:CORZ)‘s stock had its “buy” rating reissued by analysts at Canaccord Genuity Group in a research note issued on Friday, Benzinga reports. They presently have a $16.00 price objective on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 21.03% from the stock’s current price.

Several other brokerages also recently issued reports on CORZ. LADENBURG THALM/SH SH restated a “buy” rating and issued a $14.50 price objective on shares of Core Scientific in a research note on Tuesday, July 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price objective on shares of Core Scientific in a report on Thursday, October 3rd. B. Riley upped their price target on Core Scientific from $13.00 to $14.00 and gave the company a “buy” rating in a report on Friday. Macquarie began coverage on Core Scientific in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $16.00 target price for the company. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $17.00 price target on shares of Core Scientific in a report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $15.27.

Core Scientific Stock Performance

CORZ opened at $13.22 on Friday. The business has a 50 day moving average price of $10.80 and a 200 day moving average price of $7.93. Core Scientific has a twelve month low of $2.61 and a twelve month high of $13.29.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The firm had revenue of $141.10 million for the quarter, compared to analyst estimates of $128.58 million. The firm’s revenue was up 11.2% compared to the same quarter last year. On average, research analysts expect that Core Scientific will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Core Scientific

In related news, CFO Denise Marie Brucia Sterling sold 8,752 shares of Core Scientific stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.41, for a total value of $82,356.32. Following the completion of the transaction, the chief financial officer now directly owns 122,217 shares of the company’s stock, valued at $1,150,061.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $82,356.32. Following the completion of the sale, the chief financial officer now directly owns 122,217 shares of the company’s stock, valued at $1,150,061.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Todd M. Duchene sold 11,582 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $108,986.62. Following the completion of the transaction, the insider now directly owns 1,686,474 shares in the company, valued at approximately $15,869,720.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 12,761 shares of company stock worth $127,080. 32.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Core Scientific

Several hedge funds have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise acquired a new stake in shares of Core Scientific in the 2nd quarter valued at approximately $28,000. Sunbelt Securities Inc. bought a new position in shares of Core Scientific during the second quarter worth $33,000. Rise Advisors LLC acquired a new position in shares of Core Scientific in the 2nd quarter valued at $65,000. Aspect Partners LLC bought a new stake in shares of Core Scientific in the 1st quarter valued at $29,000. Finally, Hexagon Capital Partners LLC acquired a new stake in Core Scientific during the 1st quarter worth $34,000.

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.