Compass Point Increases Core Scientific (NASDAQ:CORZ) Price Target to $20.00

Core Scientific (NASDAQ:CORZ - Get Free Report) had its price objective raised by Compass Point from $18.00 to $20.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Compass Point's price objective points to a potential upside of 47.93% from the stock's current price.

A number of other equities analysts have also recently commented on the company. B. Riley raised their target price on Core Scientific from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, October 11th. Canaccord Genuity Group raised their price objective on Core Scientific from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Wednesday. HC Wainwright lifted their price objective on Core Scientific from $11.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, July 10th. Sanford C. Bernstein reissued an "outperform" rating and issued a $17.00 target price on shares of Core Scientific in a report on Tuesday, September 10th. Finally, Macquarie assumed coverage on shares of Core Scientific in a report on Wednesday, September 25th. They set an "outperform" rating and a $16.00 price target on the stock. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $16.50.

Core Scientific Stock Down 1.5 %

CORZ stock traded down $0.20 during trading on Wednesday, reaching $13.52. The stock had a trading volume of 10,705,358 shares, compared to its average volume of 8,680,747. The stock's 50 day moving average is $11.42 and its two-hundred day moving average is $8.51. Core Scientific has a 52 week low of $2.61 and a 52 week high of $14.01.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $141.10 million for the quarter, compared to analysts' expectations of $128.58 million. The company's revenue was up 11.2% on a year-over-year basis. As a group, analysts forecast that Core Scientific will post 0.01 earnings per share for the current year.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 11,582 shares of Core Scientific stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.41, for a total value of $108,986.62. Following the sale, the insider now directly owns 1,686,474 shares in the company, valued at approximately $15,869,720.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Todd M. Duchene sold 11,582 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 1,686,474 shares of the company's stock, valued at approximately $15,869,720.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Denise Marie Brucia Sterling sold 8,752 shares of Core Scientific stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.41, for a total value of $82,356.32. Following the completion of the sale, the chief financial officer now directly owns 122,217 shares in the company, valued at approximately $1,150,061.97. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 12,761 shares of company stock worth $127,080. 32.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Core Scientific

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

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.