Core Scientific (NASDAQ:CORZ) Stock Rating Reaffirmed by Cantor Fitzgerald

by · The Cerbat Gem

Core Scientific (NASDAQ:CORZ – Get Free Report)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a research note issued to investors on Thursday, Benzinga reports. They presently have a $20.00 price target on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 64.07% from the stock’s current price.

A number of other research firms have also recently commented on CORZ. Needham & Company LLC began coverage on shares of Core Scientific in a research note on Wednesday, September 4th. They set a “buy” rating and a $16.00 target price for the company. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $14.50 target price on shares of Core Scientific in a report on Tuesday, July 2nd. HC Wainwright boosted their target price on shares of Core Scientific from $11.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Canaccord Genuity Group initiated coverage on shares of Core Scientific in a report on Monday, September 23rd. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, Macquarie started coverage on shares of Core Scientific in a report on Wednesday, September 25th. They issued an “outperform” rating and a $16.00 price objective on the stock. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Core Scientific currently has an average rating of “Buy” and an average price target of $15.18.

Get Our Latest Analysis on CORZ

Core Scientific Trading Up 1.4 %

NASDAQ:CORZ opened at $12.19 on Thursday. Core Scientific has a 12 month low of $2.61 and a 12 month high of $12.95. The firm has a fifty day simple moving average of $10.51 and a 200-day simple moving average of $7.62.

Core Scientific (NASDAQ:CORZ – Get Free Report) last issued 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 company had revenue of $141.10 million for the quarter, compared to analysts’ expectations of $128.58 million. Core Scientific’s revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts predict that Core Scientific will post 0.01 earnings per share for the current year.

Insider Activity

In other news, insider Todd M. Duchene sold 11,582 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.41, for a total value of $108,986.62. Following the completion of the sale, the insider now owns 1,686,474 shares in the company, valued at approximately $15,869,720.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Todd M. Duchene sold 11,582 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total value 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Denise Marie Brucia Sterling sold 8,752 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $82,356.32. Following the completion of the transaction, the chief financial officer now owns 122,217 shares of the company’s stock, valued at $1,150,061.97. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders purchased 12,761 shares of company stock worth $127,080. Corporate insiders own 32.00% of the company’s stock.

Hedge Funds Weigh In On Core Scientific

Large investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise purchased a new position in shares of Core Scientific in the 2nd quarter valued at about $28,000. Aspect Partners LLC purchased a new position in shares of Core Scientific in the 1st quarter valued at about $29,000. Sunbelt Securities Inc. purchased a new position in shares of Core Scientific in the 2nd quarter valued at about $33,000. Hexagon Capital Partners LLC purchased a new position in shares of Core Scientific in the 1st quarter valued at about $34,000. Finally, Rise Advisors LLC purchased a new position in Core Scientific during the 2nd quarter valued at about $65,000.

About Core Scientific

(Get Free Report)

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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