Core Scientific (NASDAQ:CORZ) Price Target Raised to $17.00 at Canaccord Genuity Group

Core Scientific (NASDAQ:CORZ - Get Free Report) had its price target raised by equities research analysts at Canaccord Genuity Group from $16.00 to $17.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's target price would indicate a potential upside of 23.91% from the company's current price.

Other equities analysts have also recently issued reports about the stock. Sanford C. Bernstein restated an "outperform" rating and set a $17.00 price target on shares of Core Scientific in a report on Tuesday, September 10th. Cantor Fitzgerald restated an "overweight" rating and issued a $20.00 target price on shares of Core Scientific in a research note on Thursday, October 3rd. BTIG Research raised their price target on Core Scientific from $10.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, June 26th. B. Riley raised their price objective on shares of Core Scientific from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, October 11th. Finally, LADENBURG THALM/SH SH reiterated a "buy" rating and issued a $14.50 target price on shares of Core Scientific in a research note on Tuesday, July 2nd. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $15.45.

Core Scientific Trading Up 6.9 %

NASDAQ CORZ opened at $13.72 on Wednesday. The firm's 50 day moving average price is $11.32 and its two-hundred day moving average price is $8.47. Core Scientific has a twelve month low of $2.61 and a twelve month high of $14.01.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The company had revenue of $141.10 million during the quarter, compared to analysts' expectations of $128.58 million. The company's revenue for the quarter was up 11.2% compared to the same quarter last year. Sell-side analysts forecast that Core Scientific will post 0.01 earnings per share for the current year.

Insiders Place Their Bets

In other Core Scientific news, Director Jarrod M. Patten purchased 4,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were bought at an average cost of $9.70 per share, with a total value of $38,800.00. Following the completion of the transaction, the director now owns 279,239 shares in the company, valued at $2,708,618.30. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Jarrod M. Patten acquired 4,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were acquired at an average price of $9.70 per share, for a total transaction of $38,800.00. Following the completion of the purchase, the director now owns 279,239 shares in the company, valued at approximately $2,708,618.30. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Todd M. Duchene sold 11,582 shares of the business'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 position. The disclosure for this sale can be found here. Insiders bought a total of 12,761 shares of company stock valued at $127,080 in the last quarter. Insiders own 32.00% of the company's stock.

Institutional Trading of Core Scientific

Hedge funds have recently modified their holdings of the company. Barings LLC acquired a new position in shares of Core Scientific in the first quarter valued at $36,515,000. ORG Wealth Partners LLC acquired a new position in shares of Core Scientific in the 3rd quarter valued at $106,266,000. Vanguard Group Inc. bought a new position in shares of Core Scientific during the 1st quarter worth about $21,973,000. Kensico Capital Management Corp acquired a new stake in shares of Core Scientific during the 1st quarter valued at about $18,513,000. Finally, Van ECK Associates Corp acquired a new stake in shares of Core Scientific during the 2nd quarter valued at about $12,239,000.

Core Scientific Company Profile

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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