Core Scientific (NASDAQ:CORZ) Trading Up 2.4%

Core Scientific, Inc. (NASDAQ:CORZ)’s stock price was up 2.4% during mid-day trading on Friday . The company traded as high as $9.97 and last traded at $9.64. Approximately 1,888,895 shares traded hands during trading, a decline of 74% from the average daily volume of 7,359,805 shares. The stock had previously closed at $9.41.

Wall Street Analysts Forecast Growth

CORZ has been the subject of several analyst reports. HC Wainwright increased their target price on Core Scientific from $11.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Cantor Fitzgerald assumed coverage on shares of Core Scientific in a research report on Wednesday, July 17th. They set an “overweight” rating and a $20.00 price objective on the stock. B. Riley upgraded Core Scientific from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $0.50 to $13.00 in a report on Wednesday, July 17th. BTIG Research upped their target price on shares of Core Scientific from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, Sanford C. Bernstein started coverage on Core Scientific in a research report on Wednesday, July 10th. They set an “outperform” rating and a $17.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $14.71.

Core Scientific Stock Up 5.3 %

The company’s 50 day moving average is $8.38 and its 200 day moving average is $4.97.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. The company had revenue of $179.29 million during the quarter, compared to the consensus estimate of $139.60 million. Research analysts forecast that Core Scientific, Inc. will post 0.51 EPS for the current fiscal year.

Insider Activity at Core Scientific

In related news, insider Todd M. Duchene sold 7,321 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $9.39, for a total value of $68,744.19. Following the transaction, the insider now directly owns 359,877 shares in the company, valued at approximately $3,379,245.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Core Scientific news, insider Todd M. Duchene sold 7,321 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $9.39, for a total value of $68,744.19. Following the transaction, the insider now directly owns 359,877 shares in the company, valued at $3,379,245.03. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Todd M. Duchene sold 3,770 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $9.99, for a total transaction of $37,662.30. Following the completion of 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. 32.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Core Scientific

A number of hedge funds have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC acquired a new position in Core Scientific in the first quarter valued at approximately $34,000. Blair William & Co. IL purchased a new stake in shares of Core Scientific during the first quarter valued at approximately $1,156,000. Fiduciary Alliance LLC bought a new position in shares of Core Scientific during the 1st quarter valued at approximately $84,000. Concurrent Investment Advisors LLC purchased a new stake in Core Scientific during the first quarter valued at about $417,000. Finally, Capstone Investment Advisors LLC purchased a new position in shares of Core Scientific in the first quarter valued at $307,000.

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.