Core Scientific (NASDAQ:CORZ) Price Target Increased to $17.00 by Analysts at Canaccord Genuity Group

Core Scientific (NASDAQ:CORZ) had its price target boosted by Canaccord Genuity Group from $16.00 to $17.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

CORZ has been the topic of several other research reports. B. Riley raised their price target on shares of Core Scientific from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 target price on shares of Core Scientific in a research report on Thursday, October 3rd. BTIG Research boosted their price target on Core Scientific from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Canaccord Genuity Group began coverage on Core Scientific in a report on Monday, September 23rd. They set a “buy” rating and a $16.00 price objective on the stock. Finally, HC Wainwright upped their target price on Core Scientific from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $16.50.

Core Scientific Stock Down 2.3 %

CORZ opened at $13.37 on Wednesday. The stock’s 50 day moving average price is $11.57 and its 200-day moving average price is $8.61. Core Scientific has a one year low of $2.61 and a one year high of $14.06.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The company had revenue of $141.10 million during the quarter, compared to the consensus estimate of $128.58 million. Core Scientific’s revenue was up 11.2% on a year-over-year basis. Equities analysts forecast that Core Scientific will post 0.01 earnings per share for the current year.

Insider Transactions at Core Scientific

In related news, Director Jarrod M. Patten acquired 5,021 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $9.68 per share, for a total transaction of $48,603.28. Following the purchase, the director now directly 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 can be accessed through this link. In other news, Director Jarrod M. Patten acquired 5,021 shares of Core Scientific stock in a transaction that occurred 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 purchase, the director now directly owns 285,760 shares in the company, valued at $2,766,156.80. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Denise Marie Brucia Sterling sold 8,752 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $82,356.32. Following the sale, the chief financial officer now directly owns 122,217 shares of the company’s stock, valued at $1,150,061.97. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders purchased 12,761 shares of company stock valued at $127,080. Corporate insiders own 32.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CORZ. Wealth Enhancement Advisory Services LLC increased its position in Core Scientific by 96.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 78,077 shares of the company’s stock valued at $926,000 after buying an additional 38,292 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in shares of Core Scientific during the third quarter valued at about $119,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in shares of Core Scientific in the 3rd quarter valued at approximately $3,321,000. OLD National Bancorp IN acquired a new stake in Core Scientific in the 3rd quarter worth approximately $164,000. Finally, Vontobel Holding Ltd. boosted its stake in Core Scientific by 10.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 38,089 shares of the company’s stock worth $452,000 after purchasing an additional 3,591 shares in the last quarter.

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.