Core Scientific (NASDAQ:CORZ) Price Target Raised to $20.00 at Compass Point

Core Scientific (NASDAQ:CORZ) had its target price hoisted by Compass Point from $18.00 to $20.00 in a research note released on Wednesday morning, Benzinga reports. Compass Point currently has a buy rating on the stock.

Several other research analysts have also issued reports on the stock. Sanford C. Bernstein reiterated an “outperform” rating and issued a $17.00 target price on shares of Core Scientific in a research report on Tuesday, September 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price target on shares of Core Scientific in a research note on Thursday, October 3rd. LADENBURG THALM/SH SH reiterated a “buy” rating and set a $14.50 price objective on shares of Core Scientific in a research report on Tuesday, July 2nd. Macquarie began coverage on Core Scientific in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $16.00 target price for the company. Finally, Canaccord Genuity Group upped their target price on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $16.50.

Core Scientific Price Performance

Shares of NASDAQ CORZ opened at $13.37 on Wednesday. The business has a 50-day moving average of $11.57 and a 200-day moving average of $8.61. Core Scientific has a 12 month low of $2.61 and a 12 month high of $14.06.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The business had revenue of $141.10 million for the quarter, compared to analyst estimates of $128.58 million. Core Scientific’s revenue for the quarter was up 11.2% compared to the same quarter last year. Analysts predict that Core Scientific will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jarrod M. Patten acquired 5,021 shares of the stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $9.68 per share, for a total transaction of $48,603.28. Following the completion of the transaction, the director now owns 285,760 shares of the company’s stock, valued at $2,766,156.80. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Jarrod M. Patten purchased 5,021 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $9.68 per share, with a total value of $48,603.28. Following the acquisition, the director now directly owns 285,760 shares in the company, valued at approximately $2,766,156.80. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Todd M. Duchene sold 11,582 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $108,986.62. Following the completion of the transaction, the insider now owns 1,686,474 shares in the company, valued at $15,869,720.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have purchased a total of 12,761 shares of company stock worth $127,080 in the last ninety days. 32.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise bought a new stake in shares of Core Scientific in the 2nd quarter worth approximately $28,000. Sunbelt Securities Inc. bought a new position in shares of Core Scientific during the second quarter valued at approximately $33,000. Rise Advisors LLC purchased a new stake in Core Scientific in the second quarter worth $65,000. Aspect Partners LLC bought a new stake in Core Scientific in the first quarter valued at $29,000. Finally, Hexagon Capital Partners LLC purchased a new position in Core Scientific during the 1st quarter valued at $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.