Core Scientific (NASDAQ:CORZ) Coverage Initiated by Analysts at Sanford C. Bernstein

Sanford C. Bernstein began coverage on shares of Core Scientific (NASDAQ:CORZ) in a research note issued on Wednesday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $17.00 price target on the stock. Sanford C. Bernstein’s price target indicates a potential upside of 75.08% from the stock’s previous close.

CORZ has been the subject of several other reports. LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $14.50 price objective on shares of Core Scientific in a research report on Tuesday, July 2nd. BTIG Research upped their price objective on Core Scientific from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, HC Wainwright upped their price objective on Core Scientific from $5.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Core Scientific currently has an average rating of “Buy” and an average price target of $14.00.

Core Scientific Price Performance

CORZ opened at $9.71 on Wednesday. Core Scientific has a 12 month low of $2.61 and a 12 month high of $11.00. The business has a fifty day moving average price of $6.98 and a 200 day moving average price of $4.34.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.14. The business had revenue of $179.29 million for the quarter, compared to analyst estimates of $139.60 million. Research analysts anticipate that Core Scientific will post -0.07 EPS for the current year.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 7,321 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total transaction of $68,744.19. Following the completion of the sale, the insider now directly owns 359,877 shares of the company’s stock, valued at approximately $3,379,245.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Todd M. Duchene sold 7,321 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total transaction of $68,744.19. Following the completion of the transaction, the insider now directly owns 359,877 shares of the company’s stock, valued at approximately $3,379,245.03. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Todd M. Duchene sold 3,770 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $9.99, for a total value of $37,662.30. Following the transaction, the insider now directly owns 393,428 shares of the company’s stock, valued at $3,930,345.72. The disclosure for this sale can be found here.

Hedge Funds Weigh In On Core Scientific

A number of large investors have recently modified their holdings of the business. Barings LLC purchased a new position in Core Scientific in the 1st quarter valued at approximately $36,515,000. Vanguard Group Inc. purchased a new position in Core Scientific in the 1st quarter valued at approximately $21,973,000. Kensico Capital Management Corp purchased a new position in Core Scientific in the 1st quarter valued at approximately $18,513,000. Vident Advisory LLC purchased a new position in Core Scientific in the 1st quarter valued at approximately $4,047,000. Finally, Blair William & Co. IL purchased a new position in Core Scientific in the 1st quarter valued at approximately $1,156,000.

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.