Core Scientific (NASDAQ:CORZ) Price Target Increased to $17.00 by Analysts at Needham & Company LLC

Core Scientific (NASDAQ:CORZ) had its target price raised by Needham & Company LLC from $16.00 to $17.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts also recently issued reports about the stock. B. Riley lifted their price target on shares of Core Scientific from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 target price on shares of Core Scientific in a research report on Thursday, October 3rd. Macquarie assumed coverage on shares of Core Scientific in a research report on Wednesday, September 25th. They set an “outperform” rating and a $16.00 price target for the company. HC Wainwright lifted their price objective on Core Scientific from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Canaccord Genuity Group increased their target price on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, Core Scientific presently has a consensus rating of “Buy” and an average target price of $16.50.

Core Scientific Trading Down 2.3 %

Shares of NASDAQ:CORZ opened at $13.37 on Wednesday. Core Scientific has a 52-week low of $2.61 and a 52-week high of $14.06. The firm has a fifty day moving average of $11.57 and a 200 day moving average of $8.65.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data 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 firm had revenue of $141.10 million during the quarter, compared to analysts’ expectations of $128.58 million. Core Scientific’s revenue was up 11.2% compared to the same quarter last year. As a group, equities analysts anticipate that Core Scientific will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 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 transaction, the insider now directly owns 1,686,474 shares of the company’s stock, valued at approximately $15,869,720.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Core Scientific news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total value of $82,356.32. Following the completion of the sale, the chief financial officer now directly owns 122,217 shares in the company, valued at $1,150,061.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale 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 company’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 value of $108,986.62. Following the transaction, the insider now owns 1,686,474 shares in the company, valued at $15,869,720.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 12,761 shares of company stock worth $127,080. 32.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CORZ. Banque Cantonale Vaudoise bought a new position in Core Scientific in the second quarter worth $28,000. Sunbelt Securities Inc. purchased a new stake in shares of Core Scientific in the 2nd quarter worth about $33,000. Rise Advisors LLC bought a new position in shares of Core Scientific in the 2nd quarter worth about $65,000. Aspect Partners LLC bought a new position in shares of Core Scientific in the 1st quarter worth about $29,000. Finally, Hexagon Capital Partners LLC bought a new stake in Core Scientific during the first quarter worth about $34,000.

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.