Core Scientific's (CORZ) Neutral Rating Reaffirmed at BTIG Research

Core Scientific (NASDAQ:CORZ - Get Free Report)'s stock had its "neutral" rating reissued by equities research analysts at BTIG Research in a research report issued on Monday,Benzinga reports. They presently have a $20.00 target price on the stock. BTIG Research's price objective suggests a potential upside of 42.65% from the company's previous close.

CORZ has been the topic of several other reports. Roth Mkm restated a "buy" rating and issued a $20.00 price objective on shares of Core Scientific in a report on Thursday, June 26th. HC Wainwright restated a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a report on Tuesday, March 11th. Citizens Jmp upgraded shares of Core Scientific to a "strong-buy" rating and set a $15.00 price objective on the stock in a report on Thursday, May 22nd. JMP Securities assumed coverage on shares of Core Scientific in a report on Thursday, May 22nd. They issued a "market outperform" rating and a $15.00 price objective on the stock. Finally, Needham & Company LLC restated a "buy" rating and issued a $18.00 price objective on shares of Core Scientific in a report on Friday, June 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.44.

Core Scientific Price Performance

CORZ traded down $0.81 on Monday, reaching $14.02. 44,045,536 shares of the company's stock were exchanged, compared to its average volume of 13,777,927. The stock has a market cap of $4.18 billion, a PE ratio of -2.79 and a beta of 6.71. Core Scientific has a twelve month low of $6.20 and a twelve month high of $18.63. The stock's fifty day moving average price is $11.83 and its 200-day moving average price is $11.11.

Core Scientific (NASDAQ:CORZ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. The business had revenue of $79.53 million for the quarter, compared to analyst estimates of $92.04 million. The business's revenue was down 55.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. As a group, research analysts predict that Core Scientific will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Core Scientific

In related news, Director Yadin Rozov bought 110,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was acquired at an average price of $10.87 per share, for a total transaction of $1,195,700.00. Following the acquisition, the director owned 475,687 shares in the company, valued at approximately $5,170,717.69. This represents a 30.08% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Todd M. Duchene sold 60,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $11.33, for a total transaction of $679,800.00. Following the completion of the transaction, the insider owned 2,100,102 shares of the company's stock, valued at approximately $23,794,155.66. The trade was a 2.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,759 shares of company stock valued at $1,391,434. Company insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Xponance Inc. boosted its stake in Core Scientific by 7.9% during the 4th quarter. Xponance Inc. now owns 12,800 shares of the company's stock worth $180,000 after purchasing an additional 937 shares during the period. Summit Investment Advisors Inc. boosted its stake in Core Scientific by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 18,658 shares of the company's stock worth $262,000 after purchasing an additional 1,185 shares during the period. Wellington Management Group LLP boosted its stake in Core Scientific by 11.7% during the 1st quarter. Wellington Management Group LLP now owns 11,967 shares of the company's stock worth $87,000 after purchasing an additional 1,256 shares during the period. SBI Securities Co. Ltd. boosted its stake in Core Scientific by 17.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 10,391 shares of the company's stock worth $75,000 after purchasing an additional 1,567 shares during the period. Finally, US Bancorp DE boosted its stake in Core Scientific by 23.7% during the 1st quarter. US Bancorp DE now owns 8,682 shares of the company's stock worth $63,000 after purchasing an additional 1,663 shares during the period.

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.