Shares of Core Scientific, Inc. (NASDAQ:CORZ - Get Free Report) traded down 6% on Monday . The stock traded as low as $11.21 and last traded at $11.15. 3,735,318 shares were traded during trading, a decline of 71% from the average session volume of 12,762,637 shares. The stock had previously closed at $11.86.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on CORZ. Citizens Jmp upgraded Core Scientific to a "strong-buy" rating and set a $15.00 price objective on the stock in a research note on Thursday, May 22nd. Citigroup started coverage on shares of Core Scientific in a research report on Thursday, May 22nd. They issued an "outperform" rating on the stock. Compass Point cut their price target on Core Scientific from $26.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Canaccord Genuity Group reiterated a "buy" rating and set a $17.00 price target on shares of Core Scientific in a research report on Friday, May 9th. Finally, Needham & Company LLC upped their target price on shares of Core Scientific from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Eighteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Core Scientific has a consensus rating of "Buy" and an average price target of $18.44.
View Our Latest Stock Report on Core Scientific
Core Scientific Stock Performance
The firm has a market capitalization of $3.36 billion, a PE ratio of -2.25 and a beta of 6.30. The business's fifty day simple moving average is $9.96 and its 200-day simple moving average is $11.11.
Core Scientific (NASDAQ:CORZ - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $79.53 million for the quarter, compared to the consensus estimate of $92.04 million. During the same period last year, the company earned $0.78 EPS. The firm's revenue for the quarter was down 55.6% on a year-over-year basis. Sell-side analysts expect that Core Scientific, Inc. will post 0.52 earnings per share for the current fiscal year.
Insider Buying and Selling at Core Scientific
In other Core Scientific news, Director Yadin Rozov purchased 110,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was purchased at an average price of $10.87 per share, with a total value of $1,195,700.00. Following the acquisition, the director now owns 475,687 shares in the company, valued at approximately $5,170,717.69. The trade was a 30.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Todd M. Duchene sold 50,000 shares of Core Scientific stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $12.31, for a total value of $615,500.00. Following the completion of the transaction, the insider now owns 2,050,102 shares of the company's stock, valued at approximately $25,236,755.62. This represents a 2.38% decrease in their position. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Core Scientific
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CORZ. Wellington Shields & Co. LLC bought a new position in shares of Core Scientific during the 4th quarter valued at approximately $26,000. First Horizon Advisors Inc. purchased a new position in Core Scientific during the fourth quarter worth $34,000. State of Wyoming bought a new position in Core Scientific during the first quarter valued at $34,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Core Scientific in the first quarter valued at $38,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Core Scientific in the first quarter valued at $50,000.
About Core Scientific
(
Get Free Report)
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.
Further Reading
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