Roth Capital Reaffirms "Neutral" Rating for Core Scientific (NASDAQ:CORZ)

Roth Capital reiterated their neutral rating on shares of Core Scientific (NASDAQ:CORZ - Free Report) in a research report released on Tuesday morning,Benzinga reports. Roth Capital currently has a $20.00 price target on the stock.

A number of other equities analysts have also weighed in on CORZ. Citigroup initiated coverage on Core Scientific in a research note on Thursday, May 22nd. They set an "outperform" rating on the stock. BTIG Research reiterated a "neutral" rating and set a $20.00 target price on shares of Core Scientific in a research note on Monday. JMP Securities initiated coverage on Core Scientific in a research note on Thursday, May 22nd. They set a "market outperform" rating and a $15.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and set a $18.00 target price on shares of Core Scientific in a research note on Friday, June 27th. Finally, Roth Mkm reiterated a "buy" rating and set a $20.00 target price on shares of Core Scientific in a research note on Thursday, June 26th. 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.44.

Core Scientific Trading Down 5.5%

Shares of CORZ traded down $0.81 during mid-day trading on Tuesday, reaching $14.02. The company's stock had a trading volume of 44,112,203 shares, compared to its average volume of 13,753,740. Core Scientific has a 1-year low of $6.20 and a 1-year high of $18.63. The stock has a market cap of $4.18 billion, a P/E ratio of -2.79 and a beta of 6.71. The business has a 50-day simple moving average of $11.95 and a two-hundred day simple moving average of $11.13.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.02. The business had revenue of $79.53 million during the quarter, compared to analyst estimates of $92.04 million. During the same period in the previous year, the business earned $0.78 earnings per share. The business's quarterly revenue was down 55.6% on a year-over-year basis. Research analysts anticipate that Core Scientific will post 0.52 EPS for the current year.

Insider Buying and Selling at Core Scientific

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 transaction, the insider directly owned 2,049,689 shares of the company's stock, valued at approximately $25,395,646.71. The trade was a 0.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Yadin Rozov bought 110,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were bought at an average cost of $10.87 per share, for a total transaction of $1,195,700.00. Following the completion of the acquisition, the director directly owned 475,687 shares in the company, valued at approximately $5,170,717.69. This trade represents a 30.08% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 117,759 shares of company stock worth $1,391,434. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Shields & Co. LLC acquired a new position in Core Scientific during the 4th quarter worth about $26,000. State of Wyoming acquired a new position in shares of Core Scientific in the 1st quarter valued at about $34,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Core Scientific in the 1st quarter valued at about $38,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Core Scientific in the 1st quarter valued at about $50,000. Finally, CWM LLC lifted its stake in shares of Core Scientific by 403.9% in the 1st quarter. CWM LLC now owns 8,092 shares of the company's stock valued at $59,000 after purchasing an additional 6,486 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.