Core Scientific (NASDAQ:CORZ) Price Target Raised to $18.00 at Needham & Company LLC

Core Scientific (NASDAQ:CORZ) had its price target upped by Needham & Company LLC from $17.00 to $18.00 in a report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Macquarie initiated coverage on shares of Core Scientific in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $16.00 price target on the stock. Jefferies Financial Group assumed coverage on Core Scientific in a research note on Monday, October 28th. They set a “buy” rating and a $19.00 target price on the stock. Compass Point boosted their price target on Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein reiterated an “outperform” rating and set a $17.00 price objective on shares of Core Scientific in a research report on Tuesday, September 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 target price on shares of Core Scientific in a research report on Thursday, October 3rd. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $17.21.

Core Scientific Price Performance

Core Scientific stock traded up $0.50 during trading hours on Thursday, hitting $16.96. 12,164,781 shares of the stock were exchanged, compared to its average volume of 8,864,858. Core Scientific has a 12 month low of $2.61 and a 12 month high of $17.00. The business’s 50-day moving average is $12.21 and its two-hundred day moving average is $9.30.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Wednesday, August 7th. The company reported ($4.51) EPS for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The firm had revenue of $141.10 million during the quarter, compared to the consensus estimate of $128.58 million. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, equities analysts predict that Core Scientific will post 0.81 earnings per share for the current fiscal year.

Insider Transactions at Core Scientific

In other news, Director Jarrod M. Patten acquired 5,021 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $9.68 per share, with a total value of $48,603.28. Following the completion of the purchase, the director now directly owns 285,760 shares of the company’s stock, valued at $2,766,156.80. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jarrod M. Patten purchased 5,021 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $9.68 per share, for a total transaction of $48,603.28. Following the purchase, the director now directly owns 285,760 shares in the company, valued at approximately $2,766,156.80. 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 the SEC website. Also, Director Jarrod M. Patten acquired 4,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was purchased at an average price of $9.70 per share, with a total value of $38,800.00. Following the completion of the transaction, the director now directly owns 279,239 shares of the company’s stock, valued at $2,708,618.30. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 12,761 shares of company stock valued at $127,080.

Hedge Funds Weigh In On Core Scientific

Large investors have recently made changes to their positions in the business. Barings LLC purchased a new position in Core Scientific during the first quarter valued at $36,515,000. ORG Wealth Partners LLC purchased a new position in Core Scientific in the 3rd quarter worth approximately $106,266,000. Vanguard Group Inc. bought a new position in Core Scientific in the 1st quarter valued at approximately $21,973,000. Kensico Capital Management Corp purchased a new stake in Core Scientific during the 1st quarter valued at $18,513,000. Finally, Van ECK Associates Corp bought a new stake in shares of Core Scientific in the 2nd quarter worth $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.