Shares of Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) have received an average recommendation of "Buy" from the sixteen brokerages that are presently covering the firm, MarketBeat reports. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $19.07.
Several analysts have commented on the stock. Roth Capital upgraded shares of Core Scientific to a "strong-buy" rating in a report on Thursday, November 14th. Keefe, Bruyette & Woods started coverage on Core Scientific in a research note on Monday, January 27th. They issued an "outperform" rating and a $22.00 target price for the company. Jefferies Financial Group started coverage on Core Scientific in a research report on Monday, October 28th. They set a "buy" rating and a $19.00 price target on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 price objective on shares of Core Scientific in a report on Friday, January 17th. Finally, BTIG Research boosted their target price on shares of Core Scientific from $19.00 to $20.00 and gave the company a "buy" rating in a report on Monday, December 16th.
Get Our Latest Research Report on CORZ
In other Core Scientific news, insider Todd M. Duchene sold 25,277 shares of the company's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $16.24, for a total transaction of $410,498.48. Following the transaction, the insider now owns 2,023,423 shares in the company, valued at approximately $32,860,389.52. This represents a 1.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Yadin Rozov sold 105,000 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the transaction, the director now directly owns 345,239 shares of the company's stock, valued at $6,252,278.29. The trade was a 23.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 744,032 shares of company stock worth $11,863,966 over the last 90 days.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC grew its position in Core Scientific by 14.3% in the 3rd quarter. Rise Advisors LLC now owns 8,000 shares of the company's stock worth $95,000 after purchasing an additional 1,000 shares during the period. First Horizon Advisors Inc. purchased a new position in shares of Core Scientific in the 4th quarter worth $34,000. Joel Isaacson & Co. LLC grew its holdings in shares of Core Scientific by 4.5% in the fourth quarter. Joel Isaacson & Co. LLC now owns 58,011 shares of the company's stock worth $815,000 after acquiring an additional 2,500 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in Core Scientific during the fourth quarter valued at $42,000. Finally, Sunbelt Securities Inc. bought a new position in Core Scientific in the second quarter valued at about $33,000.
NASDAQ:CORZ opened at $12.21 on Friday. The firm's fifty day simple moving average is $14.81 and its 200 day simple moving average is $13.07. The stock has a market cap of $3.41 billion and a P/E ratio of -2.26. Core Scientific has a twelve month low of $2.61 and a twelve month high of $18.63.
Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.02). The firm had revenue of $95.35 million for the quarter, compared to analysts' expectations of $94.80 million. On average, analysts expect that Core Scientific will post 0.5 EPS for the current fiscal year.
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.
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