Roth Capital reiterated their neutral rating on shares of Core Scientific (NASDAQ:CORZ - Free Report) in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a $20.00 target price on the stock.
A number of other equities research analysts have also issued reports on the stock. Citizens Jmp raised shares of Core Scientific to a "strong-buy" rating and set a $15.00 price objective for the company in a report on Thursday, May 22nd. Needham & Company LLC reiterated a "buy" rating and set a $18.00 target price on shares of Core Scientific in a research report on Friday, June 27th. BTIG Research downgraded Core Scientific from a "strong-buy" rating to a "hold" rating and set a $20.00 target price for the company. in a research report on Monday. HC Wainwright downgraded Core Scientific from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Finally, Barclays downgraded Core Scientific to an "underweight" rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.22.
Check Out Our Latest Stock Report on CORZ
Core Scientific Stock Performance
Shares of NASDAQ CORZ traded down $0.70 during midday trading on Tuesday, hitting $12.48. 14,719,799 shares of the company's stock traded hands, compared to its average volume of 13,943,480. Core Scientific has a 1 year low of $6.20 and a 1 year high of $18.63. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of -2.50 and a beta of 6.71. The firm has a fifty day moving average of $12.14 and a 200 day moving average of $11.14.
Core Scientific (NASDAQ:CORZ - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. The firm had revenue of $79.53 million during the quarter, compared to analysts' expectations of $92.04 million. The company's revenue was down 55.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 earnings per share. On average, equities analysts anticipate that Core Scientific will post 0.52 earnings per share for the current year.
Insider Buying and Selling at Core Scientific
In other news, insider Todd M. Duchene sold 60,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $11.33, for a total transaction of $679,800.00. Following the transaction, the insider owned 2,100,102 shares in the company, valued at approximately $23,794,155.66. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Yadin Rozov purchased 110,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were purchased at an average price of $10.87 per share, for a total transaction of $1,195,700.00. Following the purchase, the director owned 475,687 shares of the company's stock, 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 90 days, insiders have sold 117,759 shares of company stock worth $1,391,434. Insiders own 1.40% of the company's stock.
Hedge Funds Weigh In On Core Scientific
Institutional investors have recently made changes to their positions in the company. Wellington Shields & Co. LLC purchased a new position in Core Scientific in the fourth quarter valued at about $26,000. State of Wyoming purchased a new position in Core Scientific in the first quarter valued at about $34,000. Emerald Mutual Fund Advisers Trust purchased a new position in Core Scientific in the first quarter valued at about $38,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Core Scientific in the first quarter valued at about $50,000. Finally, CWM LLC grew its stake in Core Scientific by 403.9% in the first 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 last quarter.
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.
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