Analysts Set Core Scientific, Inc. (NASDAQ:CORZ) Price Target at $19.07

Shares of Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) have earned a consensus rating of "Buy" from the seventeen analysts that are presently covering the company, Marketbeat reports. Sixteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $18.75.

A number of equities research analysts have recently issued reports on the stock. Oppenheimer assumed coverage on shares of Core Scientific in a research note on Wednesday. They issued an "outperform" rating and a $15.00 price objective for the company. Compass Point reduced their price target on Core Scientific from $26.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Craig Hallum assumed coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They issued a "buy" rating and a $24.00 target price on the stock. Keefe, Bruyette & Woods started coverage on Core Scientific in a research note on Monday, January 27th. They issued an "outperform" rating and a $22.00 target price on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research report on Tuesday, March 11th.

Core Scientific Trading Up 2.6%

Shares of Core Scientific stock traded up $0.27 on Tuesday, reaching $10.78. The stock had a trading volume of 14,054,007 shares, compared to its average volume of 13,123,481. The business's 50 day moving average is $8.08 and its two-hundred day moving average is $11.99. Core Scientific has a 1 year low of $3.67 and a 1 year high of $18.63. The company has a market cap of $3.21 billion, a P/E ratio of -1.99 and a beta of 6.66.

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

Insider Activity at Core Scientific

In related news, Director Jordan Levy purchased 62,500 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $8.01 per share, for a total transaction of $500,625.00. Following the purchase, the director now directly owns 306,887 shares of the company's stock, valued at approximately $2,458,164.87. This represents a 25.57% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Todd A. Becker sold 134,250 shares of Core Scientific stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.75, for a total value of $1,443,187.50. Following the transaction, the director now owns 195,687 shares of the company's stock, valued at $2,103,635.25. The trade was a 40.69% decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Core Scientific

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Shields & Co. LLC bought a new stake in Core Scientific during the 4th quarter valued at about $26,000. First Horizon Advisors Inc. bought a new position in Core Scientific in the 4th quarter valued at approximately $34,000. State of Wyoming purchased a new stake in Core Scientific during the 1st quarter valued at $34,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Core Scientific in the 1st quarter worth $38,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Core Scientific in the 4th quarter worth $42,000.

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.