Core Scientific (NASDAQ:CORZ) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Core Scientific (NASDAQ:CORZ) in a report issued on Monday, MarketBeat.com reports. The firm issued a buy rating and a $19.00 price target on the stock.

Other analysts also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price target on shares of Core Scientific in a report on Thursday, October 3rd. HC Wainwright increased their price objective on shares of Core Scientific from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Compass Point boosted their target price on shares of Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $14.50 price target on shares of Core Scientific in a research note on Tuesday, July 2nd. Finally, Needham & Company LLC raised their price objective on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $16.71.

Core Scientific Stock Performance

Core Scientific stock opened at $13.29 on Monday. The stock’s fifty day moving average price is $11.80 and its two-hundred day moving average price is $8.88. Core Scientific has a one year low of $2.61 and a one year high of $14.64.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($4.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The company had revenue of $141.10 million during the quarter, compared to analyst estimates of $128.58 million. Core Scientific’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts forecast that Core Scientific will post 0.01 EPS for the current fiscal year.

Insider Transactions at Core Scientific

In related news, CFO Denise Marie Brucia Sterling sold 8,752 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.41, for a total value of $82,356.32. Following the sale, the chief financial officer now directly owns 122,217 shares in the company, valued at $1,150,061.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Denise Marie Brucia Sterling sold 8,752 shares of Core Scientific stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $82,356.32. Following the completion of the transaction, the chief financial officer now owns 122,217 shares of the company’s stock, valued at $1,150,061.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Todd M. Duchene sold 11,582 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $108,986.62. Following the sale, the insider now directly owns 1,686,474 shares in the company, valued at $15,869,720.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased 12,761 shares of company stock worth $127,080 over the last ninety days. 32.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Core Scientific

Several large investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise acquired a new position in Core Scientific in the second quarter valued at approximately $28,000. Sunbelt Securities Inc. bought a new position in Core Scientific during the second quarter worth $33,000. Rise Advisors LLC bought a new position in Core Scientific during the second quarter worth $65,000. Aspect Partners LLC acquired a new stake in Core Scientific in the first quarter worth $29,000. Finally, Hexagon Capital Partners LLC bought a new stake in Core Scientific in the first quarter valued at $34,000.

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.