Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $15.98, but opened at $13.19. Core Scientific shares last traded at $12.57, with a volume of 11,290,401 shares changing hands.
Analyst Upgrades and Downgrades
CORZ has been the subject of a number of recent research reports. Needham & Company LLC restated a "buy" rating and issued a $18.00 target price on shares of Core Scientific in a research note on Friday, January 17th. Macquarie upped their price objective on shares of Core Scientific from $16.00 to $19.00 and gave the company an "outperform" rating in a report on Thursday, November 14th. Craig Hallum initiated coverage on shares of Core Scientific in a research report on Tuesday, January 21st. They set a "buy" rating and a $24.00 target price for the company. Roth Capital raised shares of Core Scientific to a "strong-buy" rating in a research report on Thursday, November 14th. Finally, BTIG Research lifted their price objective on shares of Core Scientific from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Core Scientific currently has an average rating of "Buy" and an average target price of $19.07.
Read Our Latest Research Report on Core Scientific
Core Scientific Price Performance
The company has a 50 day simple moving average of $15.56 and a 200-day simple moving average of $13.01. The firm has a market cap of $3.14 billion and a PE ratio of -2.08.
Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.02). The firm had revenue of $95.35 million for the quarter, compared to the consensus estimate of $94.80 million. On average, sell-side analysts predict that Core Scientific, Inc. will post 0.5 EPS for the current fiscal year.
Insider Transactions at Core Scientific
In related news, CEO Adam Taylor Sullivan sold 88,380 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total value of $1,258,531.20. Following the sale, the chief executive officer now directly owns 4,128,505 shares of the company's stock, valued at $58,789,911.20. This trade represents a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Todd M. Duchene sold 25,000 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total transaction of $427,500.00. Following the sale, the insider now owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. This trade represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 349,043 shares of company stock worth $5,449,345. Insiders own 32.00% of the company's stock.
Institutional Investors Weigh In On Core Scientific
Hedge funds have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. bought a new stake in shares of Core Scientific during the second quarter valued at approximately $33,000. Rise Advisors LLC boosted its stake in Core Scientific by 14.3% during the 3rd quarter. Rise Advisors LLC now owns 8,000 shares of the company's stock valued at $95,000 after purchasing an additional 1,000 shares during the last quarter. Xponance Inc. bought a new stake in shares of Core Scientific in the 2nd quarter worth $104,000. KBC Group NV purchased a new position in shares of Core Scientific in the fourth quarter worth $114,000. Finally, Amalgamated Bank bought a new position in shares of Core Scientific during the second quarter valued at $115,000.
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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