Core Scientific’s (CORZ) Buy Rating Reiterated at LADENBURG THALM/SH SH

Core Scientific (NASDAQ:CORZ)‘s stock had its “buy” rating reiterated by LADENBURG THALM/SH SH in a research report issued on Tuesday, Marketbeat Ratings reports. They presently have a $14.50 target price on the stock. LADENBURG THALM/SH SH’s price objective would indicate a potential upside of 43.28% from the company’s previous close.

A number of other equities analysts have also recently commented on CORZ. BTIG Research lifted their price target on shares of Core Scientific from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. HC Wainwright boosted their target price on Core Scientific from $5.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th.

Core Scientific Stock Down 1.4 %

NASDAQ:CORZ opened at $10.12 on Tuesday. The business has a 50 day simple moving average of $6.17 and a 200-day simple moving average of $3.98. Core Scientific has a 1 year low of $2.61 and a 1 year high of $10.70.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. The company had revenue of $179.29 million during the quarter, compared to the consensus estimate of $139.60 million. Research analysts anticipate that Core Scientific will post -0.8 EPS for the current fiscal year.

Insider Activity

In related news, insider Todd M. Duchene sold 3,770 shares of Core Scientific stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $9.99, for a total transaction of $37,662.30. Following the completion of the sale, the insider now owns 393,428 shares in the company, valued at approximately $3,930,345.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Core Scientific news, insider Todd M. Duchene sold 7,321 shares of the company’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 completion of the sale, the insider now directly owns 359,877 shares in the company, valued at approximately $3,379,245.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Todd M. Duchene sold 3,770 shares of the stock in a transaction 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 directly owns 393,428 shares in the company, valued at approximately $3,930,345.72. The disclosure for this sale can be found here.

Institutional Trading of Core Scientific

A number of hedge funds have recently added to or reduced their stakes in CORZ. Aspect Partners LLC purchased a new position in Core Scientific during the 1st quarter valued at about $29,000. Hexagon Capital Partners LLC purchased a new stake in shares of Core Scientific during the first quarter worth about $34,000. Lindbrook Capital LLC purchased a new stake in shares of Core Scientific during the first quarter valued at $65,000. Fiduciary Alliance LLC acquired a new position in shares of Core Scientific in the 1st quarter valued at $84,000. Finally, Dorsey & Whitney Trust CO LLC purchased a new position in Core Scientific in the 1st quarter worth $122,000.

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.