Core Scientific (NASDAQ:CORZ) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Core Scientific (NASDAQ:CORZ - Free Report) in a research report sent to investors on Monday, Marketbeat.com reports. The firm issued a buy rating and a $19.00 target price on the stock.

CORZ has been the topic of a number of other research reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $20.00 price target on shares of Core Scientific in a report on Thursday, October 3rd. Sanford C. Bernstein restated an "outperform" rating and set a $17.00 target price on shares of Core Scientific in a report on Tuesday, September 10th. Canaccord Genuity Group lifted their target price on shares of Core Scientific from $16.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Macquarie assumed coverage on shares of Core Scientific in a report on Wednesday, September 25th. They set an "outperform" rating and a $16.00 target price on the stock. Finally, Compass Point lifted their target price 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. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $16.71.

Core Scientific Stock Up 6.2 %

Shares of CORZ traded up $0.83 during mid-day trading on Monday, reaching $14.20. The company had a trading volume of 13,381,726 shares, compared to its average volume of 8,705,140. The firm has a fifty day simple moving average of $11.57 and a 200-day simple moving average of $8.69. Core Scientific has a fifty-two week low of $2.61 and a fifty-two week high of $14.40.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($4.51) earnings per share 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 company's revenue for the quarter was up 11.2% on a year-over-year basis. Analysts forecast that Core Scientific will post 0.01 earnings per share for the current year.

Insider Activity

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 value of $82,356.32. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, 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 completion of the sale, the insider now owns 1,686,474 shares of the company's stock, valued at $15,869,720.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Denise Marie Brucia Sterling sold 8,752 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 $82,356.32. Following the sale, the chief financial officer now directly owns 122,217 shares of the company's stock, valued at approximately $1,150,061.97. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 12,761 shares of company stock worth $127,080. 32.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Core Scientific

A number of institutional investors have recently modified their holdings of the business. P Schoenfeld Asset Management LP bought a new position in Core Scientific in the 2nd quarter worth about $4,185,000. Vanguard Group Inc. bought a new position in Core Scientific in the 1st quarter worth about $21,973,000. Hexagon Capital Partners LLC bought a new position in Core Scientific in the 1st quarter worth about $34,000. Blair William & Co. IL bought a new position in Core Scientific in the 1st quarter worth about $1,156,000. Finally, DeepCurrents Investment Group LLC grew its position in Core Scientific by 157.7% in the 2nd quarter. DeepCurrents Investment Group LLC now owns 255,162 shares of the company's stock worth $2,373,000 after purchasing an additional 156,162 shares during the last quarter.

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.