Core Scientific’s (CORZ) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Core Scientific (NASDAQ:CORZ) in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a $17.00 target price on the stock.

CORZ has been the topic of several other reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 target price on shares of Core Scientific in a report on Thursday, November 7th. B. Riley boosted their price objective on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Craig Hallum initiated coverage on Core Scientific in a research note on Tuesday, January 21st. They issued a “buy” rating and a $24.00 price objective on the stock. Roth Mkm initiated coverage on Core Scientific in a research note on Friday, November 15th. They issued a “buy” rating and a $25.50 price objective on the stock. Finally, Needham & Company LLC dropped their price objective on Core Scientific from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $19.07.

Core Scientific Trading Up 4.2 %

Shares of CORZ opened at $11.16 on Thursday. The company has a market capitalization of $3.12 billion and a PE ratio of -2.06. Core Scientific has a 12 month low of $2.61 and a 12 month high of $18.63. The stock’s 50-day moving average price is $13.20 and its two-hundred day moving average price is $13.27.

Core Scientific (NASDAQ:CORZ) last announced 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 company had revenue of $94.93 million for the quarter, compared to analyst estimates of $97.07 million. Equities research analysts predict that Core Scientific will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 129,861 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total value of $1,849,220.64. Following the transaction, the insider now owns 2,051,649 shares in the company, valued at approximately $29,215,481.76. This represents a 5.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Taylor Sullivan sold 88,380 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total value of $1,258,531.20. Following the completion of the transaction, the chief executive officer now owns 4,128,505 shares in the company, valued at approximately $58,789,911.20. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 614,032 shares of company stock worth $9,534,916. Corporate insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

Several institutional investors and hedge funds have recently modified their holdings of CORZ. Wellington Shields & Co. LLC purchased a new stake in shares of Core Scientific in the fourth quarter worth approximately $26,000. First Horizon Advisors Inc. purchased a new stake in shares of Core Scientific in the fourth quarter worth approximately $34,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Core Scientific in the fourth quarter worth approximately $42,000. Vestcor Inc purchased a new stake in shares of Core Scientific in the fourth quarter worth approximately $66,000. Finally, US Bancorp DE purchased a new stake in shares of Core Scientific in the fourth quarter worth approximately $99,000.

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.