Core Scientific (NASDAQ:CORZ) Upgraded by Citizens Jmp to Market Outperform Rating

by · The Cerbat Gem

Core Scientific (NASDAQ:CORZ – Get Free Report) was upgraded by research analysts at Citizens Jmp from a “market perform” rating to a “market outperform” rating in a report issued on Thursday,Benzinga reports. The brokerage presently has a $30.00 target price on the stock. Citizens Jmp’s price target would indicate a potential upside of 121.08% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. Zacks Research upgraded Core Scientific from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Macquarie upgraded shares of Core Scientific from a “hold” rating to an “outperform” rating and boosted their target price for the company from $18.00 to $34.00 in a research note on Friday, October 31st. Cantor Fitzgerald upped their target price on shares of Core Scientific from $18.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Compass Point assumed coverage on shares of Core Scientific in a research report on Monday, September 15th. They set a “buy” rating for the company. Finally, HC Wainwright raised shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $25.00 price target for the company in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Core Scientific has a consensus rating of “Moderate Buy” and an average price target of $23.18.

View Our Latest Stock Report on CORZ

Core Scientific Stock Down 7.9%

NASDAQ:CORZ opened at $13.57 on Thursday. The firm has a market capitalization of $4.21 billion, a PE ratio of 90.47 and a beta of 6.77. Core Scientific has a 12-month low of $6.20 and a 12-month high of $23.63. The firm has a 50-day moving average price of $17.78 and a 200 day moving average price of $15.62.

Core Scientific (NASDAQ:CORZ – Get Free Report) last released its quarterly earnings data on Friday, October 24th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.39. The company had revenue of $81.10 million during the quarter, compared to the consensus estimate of $107.18 million. On average, research analysts expect that Core Scientific will post 0.52 EPS for the current year.

Insider Buying and Selling

In other Core Scientific news, Director Eric Stanton Weiss bought 5,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was bought at an average price of $21.50 per share, for a total transaction of $107,500.00. Following the transaction, the director owned 226,687 shares of the company’s stock, valued at approximately $4,873,770.50. The trade was a 2.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Core Scientific

Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its holdings in shares of Core Scientific by 192.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,662 shares of the company’s stock valued at $80,000 after purchasing an additional 3,067 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in Core Scientific during the second quarter worth $243,000. Heritage Oak Wealth Advisors LLC grew its holdings in shares of Core Scientific by 2.4% in the 2nd quarter. Heritage Oak Wealth Advisors LLC now owns 753,846 shares of the company’s stock valued at $12,868,000 after acquiring an additional 17,709 shares in the last quarter. Harvest Portfolios Group Inc. grew its stake in Core Scientific by 81.9% in the second quarter. Harvest Portfolios Group Inc. now owns 134,895 shares of the company’s stock valued at $2,303,000 after purchasing an additional 60,746 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in Core Scientific by 1,326.9% during the second quarter. Prudential Financial Inc. now owns 199,630 shares of the company’s stock worth $3,408,000 after buying an additional 185,640 shares during the last quarter.

Core Scientific Company Profile

(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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