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

Canaccord Genuity Group reiterated their buy rating on shares of Core Scientific (NASDAQ:CORZ) in a report released on Thursday morning,Benzinga reports. They currently have a $17.00 price objective on the stock.

CORZ has been the topic of a number of other research reports. Macquarie increased their price target on Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and set a $17.00 target price on shares of Core Scientific in a research report on Thursday. Roth Mkm initiated coverage on shares of Core Scientific in a research report on Friday, November 15th. They set a “buy” rating and a $25.50 price objective for the company. Keefe, Bruyette & Woods assumed coverage on shares of Core Scientific in a research report on Monday, January 27th. They issued an “outperform” rating and a $22.00 target price on the stock. Finally, Roth Capital upgraded shares of Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $19.07.

Core Scientific Trading Up 6.9 %

Core Scientific stock opened at $10.71 on Thursday. The firm has a market cap of $2.99 billion and a PE ratio of -1.98. The stock’s 50 day simple moving average is $13.34 and its two-hundred day simple moving average is $13.28. Core Scientific has a 12 month low of $2.61 and a 12 month high of $18.63.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. The firm had revenue of $94.93 million during the quarter, compared to analysts’ expectations of $97.07 million. On average, equities research analysts forecast that Core Scientific will post 0.52 EPS for the current year.

Insider Transactions at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 25,277 shares of Core Scientific stock in a transaction on Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $410,498.48. Following the transaction, the insider now directly owns 2,023,423 shares in the company, valued at approximately $32,860,389.52. The trade was a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Adam Taylor Sullivan sold 88,380 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,258,531.20. Following the sale, the chief executive officer now directly owns 4,128,505 shares of the company’s stock, valued at approximately $58,789,911.20. This represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 614,032 shares of company stock valued at $9,534,916. Corporate insiders own 32.00% of the company’s stock.

Hedge Funds Weigh In On Core Scientific

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Shields & Co. LLC purchased a new stake in shares of Core Scientific during the 4th quarter worth $26,000. First Horizon Advisors Inc. acquired a new stake in shares of Core Scientific in the fourth quarter valued at about $34,000. Newbridge Financial Services Group Inc. purchased a new stake in Core Scientific during the fourth quarter worth about $42,000. Vestcor Inc acquired a new position in Core Scientific during the fourth quarter worth about $66,000. Finally, US Bancorp DE purchased a new position in Core Scientific in the fourth quarter valued at about $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.