Core Scientific (NASDAQ:CORZ) Trading 1.4% Higher

Core Scientific, Inc. (NASDAQ:CORZ) rose 1.4% during mid-day trading on Tuesday . The company traded as high as $11.29 and last traded at $11.20. Approximately 2,155,503 shares were traded during trading, a decline of 71% from the average daily volume of 7,343,557 shares. The stock had previously closed at $11.05.

Analyst Upgrades and Downgrades

CORZ has been the topic of several recent analyst reports. HC Wainwright boosted their price target on Core Scientific from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Sanford C. Bernstein initiated coverage on Core Scientific in a research note on Wednesday, July 10th. They set an “outperform” rating and a $17.00 target price for the company. B. Riley upgraded shares of Core Scientific from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $0.50 to $13.00 in a research note on Wednesday, July 17th. BTIG Research increased their price objective on shares of Core Scientific from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Cantor Fitzgerald initiated coverage on shares of Core Scientific in a report on Wednesday, July 17th. They set an “overweight” rating and a $20.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $14.71.

Core Scientific Stock Performance

The company has a 50 day moving average of $8.27 and a 200-day moving average of $4.94.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.14. The business had revenue of $179.29 million for the quarter, compared to analyst estimates of $139.60 million. On average, analysts predict that Core Scientific, Inc. will post 0.51 EPS for the current fiscal year.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 7,321 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total value of $68,744.19. Following the sale, the insider now directly owns 359,877 shares in the company, valued at $3,379,245.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Core Scientific news, insider Todd M. Duchene sold 7,321 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $9.39, for a total value of $68,744.19. Following the sale, the insider now owns 359,877 shares in the company, valued at $3,379,245.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd M. Duchene sold 3,770 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $9.99, for a total value of $37,662.30. Following the transaction, the insider now owns 393,428 shares of the company’s stock, valued at $3,930,345.72. The disclosure for this sale can be found here. 32.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Rise Advisors LLC bought a new position in Core Scientific in the 2nd quarter valued at about $65,000. Aspect Partners LLC acquired a new stake in shares of Core Scientific in the 1st quarter worth approximately $29,000. Hexagon Capital Partners LLC bought a new position in shares of Core Scientific in the first quarter valued at approximately $34,000. Silverleafe Capital Partners LLC acquired a new position in shares of Core Scientific during the second quarter valued at approximately $158,000. Finally, Lindbrook Capital LLC bought a new stake in Core Scientific during the first quarter worth approximately $65,000.

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.