Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $11.46, but opened at $12.13. Core Scientific shares last traded at $12.23, with a volume of 2,330,197 shares changing hands.
Analysts Set New Price Targets
CORZ has been the topic of several recent analyst reports. Macquarie increased their target price on Core Scientific from $16.00 to $19.00 and gave the stock an "outperform" rating in a research report on Thursday, November 14th. Keefe, Bruyette & Woods began coverage on Core Scientific in a research report on Monday, January 27th. They issued an "outperform" rating and a $22.00 target price for the company. Jefferies Financial Group initiated coverage on shares of Core Scientific in a research note on Monday, October 28th. They set a "buy" rating and a $19.00 price objective on the stock. 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. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research note on Thursday, November 7th. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Core Scientific presently has a consensus rating of "Buy" and an average target price of $19.07.
Check Out Our Latest Analysis on Core Scientific
Core Scientific Price Performance
The business's fifty day simple moving average is $15.03 and its 200 day simple moving average is $13.04. The stock has a market cap of $3.44 billion and a price-to-earnings ratio of -2.28.
Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $95.35 million for the quarter, compared to analyst estimates of $94.80 million. As a group, equities analysts forecast that Core Scientific, Inc. will post 0.5 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO Adam Taylor Sullivan sold 88,380 shares of Core Scientific stock in a transaction dated Thursday, January 2nd. The shares were 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 in the company, valued at $58,789,911.20. This trade represents a 2.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Todd M. Duchene sold 25,000 shares of Core Scientific stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total value of $427,500.00. Following the sale, the insider now directly 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. In the last 90 days, insiders have sold 744,032 shares of company stock valued at $11,863,966. Insiders own 32.00% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. acquired a new stake in shares of Core Scientific in the fourth quarter valued at $42,000. Rise Advisors LLC raised its position in Core Scientific by 14.3% in the third quarter. Rise Advisors LLC now owns 8,000 shares of the company's stock worth $95,000 after acquiring an additional 1,000 shares in the last quarter. KBC Group NV acquired a new stake in Core Scientific in the 4th quarter valued at about $114,000. Arkadios Wealth Advisors bought a new position in shares of Core Scientific during the 3rd quarter valued at about $119,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Core Scientific in the 2nd quarter worth approximately $140,000.
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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