Core Scientific (NASDAQ:CORZ) Research Coverage Started at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods initiated coverage on shares of Core Scientific (NASDAQ:CORZ) in a research report released on Monday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $22.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity Group restated a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a research note on Thursday, November 7th. BTIG Research upped their price target on shares of Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Jefferies Financial Group started coverage on shares of Core Scientific in a report on Monday, October 28th. They issued a “buy” rating and a $19.00 price objective for the company. Craig Hallum initiated coverage on Core Scientific in a report on Tuesday, January 21st. They set a “buy” rating and a $24.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price target on shares of Core Scientific in a research note on Thursday, October 3rd. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $19.07.

Core Scientific Trading Up 1.3 %

NASDAQ CORZ opened at $11.46 on Monday. The company has a 50-day moving average price of $15.25 and a two-hundred day moving average price of $13.02. Core Scientific has a 52 week low of $2.61 and a 52 week high of $18.63. The stock has a market cap of $3.20 billion and a price-to-earnings ratio of -2.12.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The company had revenue of $95.35 million during the quarter, compared to analyst estimates of $94.80 million. As a group, equities research analysts expect that Core Scientific will post 0.5 earnings per share for the current fiscal year.

Insider Activity at Core Scientific

In other news, insider Todd M. Duchene sold 129,861 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total transaction of $1,849,220.64. Following the completion of the sale, the insider now owns 2,051,649 shares of the company’s stock, valued at approximately $29,215,481.76. This trade represents a 5.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Adam Taylor Sullivan sold 88,380 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.24, for a total value of $1,258,531.20. Following the completion of the transaction, the chief executive officer now directly owns 4,128,505 shares in the company, valued at $58,789,911.20. The trade was a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 744,032 shares of company stock valued at $11,863,966. Corporate insiders own 32.00% of the company’s stock.

Hedge Funds Weigh In On Core Scientific

Institutional investors and hedge funds have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. acquired a new position in Core Scientific during the 4th quarter worth about $42,000. Sunbelt Securities Inc. acquired a new stake in Core Scientific in the 2nd quarter valued at about $33,000. Rise Advisors LLC raised its stake in shares of Core Scientific by 14.3% in the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock worth $95,000 after acquiring an additional 1,000 shares during the last quarter. KBC Group NV acquired a new position in shares of Core Scientific during the fourth quarter worth approximately $114,000. Finally, Duncan Williams Asset Management LLC bought a new stake in shares of Core Scientific during the fourth quarter valued at approximately $141,000.

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.