Core Scientific's (CORZ) Market Perform Rating Reaffirmed at JMP Securities

Core Scientific (NASDAQ:CORZ - Get Free Report)'s stock had its "market perform" rating reaffirmed by investment analysts at JMP Securities in a note issued to investors on Monday,Benzinga reports. They currently have a $15.00 price objective on the stock. JMP Securities' price target would indicate a potential upside of 10.99% from the company's current price.

Several other research firms also recently issued reports on CORZ. Craig Hallum downgraded shares of Core Scientific from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 7th. Barclays lowered shares of Core Scientific to an "underweight" rating in a research note on Tuesday, July 8th. Canaccord Genuity Group restated a "buy" rating and issued a $17.00 target price on shares of Core Scientific in a report on Friday, June 27th. Macquarie cut shares of Core Scientific from a "strong-buy" rating to a "hold" rating and set a $15.00 price target on the stock. in a research report on Thursday, July 10th. Finally, Roth Mkm reissued a "buy" rating and issued a $20.00 price objective on shares of Core Scientific in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $18.22.

Core Scientific Trading Down 2.9%

NASDAQ:CORZ traded down $0.41 on Monday, hitting $13.52. The company had a trading volume of 5,674,421 shares, compared to its average volume of 14,005,339. Core Scientific has a 52 week low of $6.20 and a 52 week high of $18.63. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of -2.69 and a beta of 6.71. The firm has a 50 day moving average of $12.51 and a two-hundred day moving average of $11.11.

Core Scientific (NASDAQ:CORZ - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The firm had revenue of $79.53 million for the quarter, compared to analyst estimates of $92.04 million. During the same period last year, the business earned $0.78 EPS. The company's revenue was down 55.6% compared to the same quarter last year. As a group, equities analysts forecast that Core Scientific will post 0.52 EPS for the current year.

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 7,759 shares of Core Scientific stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $12.39, for a total transaction of $96,134.01. Following the completion of the transaction, the insider owned 2,049,689 shares in the company, valued at approximately $25,395,646.71. The trade was a 0.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yadin Rozov acquired 110,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was bought at an average cost of $10.87 per share, with a total value of $1,195,700.00. Following the completion of the purchase, the director owned 475,687 shares of the company's stock, valued at approximately $5,170,717.69. The trade was a 30.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 117,759 shares of company stock valued at $1,391,434 in the last 90 days. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Core Scientific

Institutional investors have recently bought and sold shares of the stock. US Bancorp DE bought a new position in shares of Core Scientific during the fourth quarter valued at about $99,000. Charles Schwab Investment Management Inc. grew its position in Core Scientific by 23.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,392,092 shares of the company's stock valued at $33,609,000 after buying an additional 459,630 shares during the period. Victory Capital Management Inc. grew its position in shares of Core Scientific by 12.2% during the 4th quarter. Victory Capital Management Inc. now owns 29,890 shares of the company's stock valued at $420,000 after acquiring an additional 3,257 shares during the period. HighTower Advisors LLC raised its holdings in shares of Core Scientific by 183.7% in the 4th quarter. HighTower Advisors LLC now owns 47,904 shares of the company's stock worth $673,000 after purchasing an additional 31,018 shares during the period. Finally, Swiss National Bank lifted its stake in Core Scientific by 46.3% in the fourth quarter. Swiss National Bank now owns 380,900 shares of the company's stock valued at $5,352,000 after purchasing an additional 120,500 shares during the last quarter.

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.