Core Scientific (NASDAQ:CORZ) Price Target Raised to $17.00 at B. Riley

Core Scientific (NASDAQ:CORZ) had its price objective increased by equities research analysts at B. Riley from $16.00 to $17.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s target price suggests a potential upside of 0.24% from the company’s previous close.

Several other research firms have also recently issued reports on CORZ. Needham & Company LLC increased their target price on Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday. Macquarie started coverage on shares of Core Scientific in a report on Wednesday, September 25th. They issued an “outperform” rating and a $16.00 target price on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a report on Thursday. Jefferies Financial Group began coverage on shares of Core Scientific in a report on Monday, October 28th. They set a “buy” rating and a $19.00 price objective for the company. Finally, Compass Point lifted their target price on Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $17.21.

Core Scientific Trading Up 3.0 %

CORZ opened at $16.96 on Thursday. The company has a 50 day simple moving average of $12.34 and a two-hundred day simple moving average of $9.39. Core Scientific has a 1-year low of $2.61 and a 1-year high of $17.01.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The business had revenue of $141.10 million during the quarter, compared to analyst estimates of $128.58 million. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities research analysts expect that Core Scientific will post 0.81 EPS for the current year.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 11,582 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was 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 owns 1,686,474 shares in the company, valued at $15,869,720.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jarrod M. Patten purchased 4,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were purchased at an average cost of $9.70 per share, for a total transaction of $38,800.00. Following the completion of the acquisition, the director now owns 279,239 shares in the company, valued at approximately $2,708,618.30. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Todd M. Duchene sold 11,582 shares of Core Scientific stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $108,986.62. Following the sale, the insider now owns 1,686,474 shares of the company’s stock, valued at $15,869,720.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought 12,761 shares of company stock worth $127,080 over the last quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise purchased a new position in shares of Core Scientific in the 2nd quarter worth approximately $28,000. Aspect Partners LLC purchased a new position in Core Scientific in the first quarter worth $29,000. Sunbelt Securities Inc. acquired a new position in shares of Core Scientific during the second quarter worth $33,000. Rise Advisors LLC acquired a new stake in shares of Core Scientific in the 2nd quarter worth $65,000. Finally, Divisadero Street Capital Management LP purchased a new position in Core Scientific during the 2nd quarter worth $93,000.

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.