Core Scientific's (CORZ) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Core Scientific's stock retains a "Sell (D-)" rating from Weiss Ratings, while other analysts give mixed ratings including "overweight" and "buy" with a consensus target price of $20.69.
• The company's stock price recently increased to $19.34, reflecting a significant trading volume of over 16 million shares, and it has a market capitalization of $5.94 billion.
• Core Scientific reported a quarterly earnings per share of ($0.46), outperforming analysts' expectations of ($0.85) by $0.39.

Core Scientific (NASDAQ:CORZ - Get Free Report)'s stock had its "sell (d-)" rating reissued by equities researchers at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

A number of other research analysts have also weighed in on CORZ. Cantor Fitzgerald raised their price target on shares of Core Scientific from $18.00 to $26.00 and gave the company an "overweight" rating in a research note on Friday. Canaccord Genuity Group restated a "buy" rating and issued a $17.00 target price on shares of Core Scientific in a research report on Friday, June 27th. JMP Securities restated a "market perform" rating on shares of Core Scientific in a research report on Tuesday, August 12th. Citizens Jmp lowered Core Scientific from a "strong-buy" rating to a "hold" rating in a report on Monday, July 14th. Finally, Needham & Company LLC lowered Core Scientific from a "moderate buy" rating to a "hold" rating and set a $18.00 price objective on the stock. in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $20.69.

Core Scientific Price Performance

CORZ stock traded up $1.28 during mid-day trading on Friday, reaching $19.34. 16,535,012 shares of the company's stock were exchanged, compared to its average volume of 17,430,864. The company has a market cap of $5.94 billion, a price-to-earnings ratio of -34.54 and a beta of 6.58. The stock's 50 day moving average is $16.42 and its 200 day moving average is $13.27. Core Scientific has a 12-month low of $6.20 and a 12-month high of $20.36.

Core Scientific (NASDAQ:CORZ - Get Free Report) last announced its earnings results on Friday, October 24th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.85) by $0.39. On average, research analysts forecast that Core Scientific will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Core Scientific

A number of institutional investors have recently bought and sold shares of CORZ. HHM Wealth Advisors LLC raised its position in shares of Core Scientific by 96.5% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company's stock valued at $33,000 after buying an additional 946 shares during the period. State of Wyoming purchased a new stake in shares of Core Scientific during the 1st quarter valued at approximately $34,000. Osaic Holdings Inc. raised its position in Core Scientific by 112.1% in the second quarter. Osaic Holdings Inc. now owns 2,017 shares of the company's stock valued at $34,000 after purchasing an additional 1,066 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new stake in Core Scientific in the first quarter valued at $38,000. Finally, Advisors Asset Management Inc. raised its position in Core Scientific by 68.3% in the second quarter. Advisors Asset Management Inc. now owns 2,690 shares of the company's stock valued at $46,000 after purchasing an additional 1,092 shares during the period.

Core Scientific Company Profile

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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