HC Wainwright Issues Positive Forecast for Core Scientific (NASDAQ:CORZ) Stock Price

Core Scientific (NASDAQ:CORZ - Get Free Report) had its target price raised by investment analysts at HC Wainwright from $15.00 to $17.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price objective would indicate a potential upside of 3.03% from the stock's current price.

CORZ has been the topic of a number of other research reports. Compass Point lifted their price target on shares of Core Scientific from $18.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Needham & Company LLC increased their price objective on shares of Core Scientific from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Canaccord Genuity Group initiated coverage on shares of Core Scientific in a report on Monday, September 23rd. They set a "buy" rating and a $16.00 target price on the stock. Macquarie assumed coverage on shares of Core Scientific in a research report on Wednesday, September 25th. They set an "outperform" rating and a $16.00 price target for the company. Finally, Canaccord Genuity Group raised their price objective on Core Scientific from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Core Scientific presently has a consensus rating of "Buy" and an average price target of $17.21.

Core Scientific Stock Up 15.1 %

Core Scientific stock traded up $2.17 during trading hours on Thursday, hitting $16.50. The stock had a trading volume of 26,517,316 shares, compared to its average volume of 8,827,691. Core Scientific has a 1-year low of $2.61 and a 1-year high of $16.70. The stock's fifty day moving average is $12.08 and its two-hundred day moving average is $9.25.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its earnings results 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 business had revenue of $141.10 million for the quarter, compared to the consensus estimate of $128.58 million. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. Analysts predict that Core Scientific will post 0.81 EPS for the current fiscal year.

Insider Transactions at Core Scientific

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

Institutional Investors Weigh In On Core Scientific

Several large investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new position in Core Scientific in the 2nd quarter worth approximately $28,000. Aspect Partners LLC acquired a new position in Core Scientific during the 1st quarter worth $29,000. Sunbelt Securities Inc. bought a new position in shares of Core Scientific in the second quarter worth $33,000. Rise Advisors LLC acquired a new position in shares of Core Scientific during the second quarter valued at $65,000. Finally, Divisadero Street Capital Management LP bought a new stake in shares of Core Scientific during the second quarter valued at about $93,000.

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.