Core Scientific's (CORZ) "Neutral" Rating Reaffirmed at HC Wainwright

Core Scientific (NASDAQ:CORZ - Get Free Report)'s stock had its "neutral" rating reiterated by investment analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports.

A number of other analysts also recently issued reports on the company. BTIG Research restated a "neutral" rating and issued a $20.00 price target on shares of Core Scientific in a research report on Monday. Roth Mkm reissued a "buy" rating and set a $20.00 price objective on shares of Core Scientific in a report on Thursday, June 26th. Oppenheimer reaffirmed a "market perform" rating on shares of Core Scientific in a research report on Monday. Canaccord Genuity Group reissued a "buy" rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Friday, June 27th. Finally, JMP Securities initiated coverage on shares of Core Scientific in a research report on Thursday, May 22nd. They issued a "market outperform" rating and a $15.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $18.44.

Core Scientific Stock Down 5.5%

CORZ traded down $0.81 during midday trading on Tuesday, hitting $14.02. 44,112,203 shares of the company traded hands, compared to its average volume of 13,778,384. The firm has a market capitalization of $4.18 billion, a PE ratio of -2.79 and a beta of 6.71. The company's 50-day moving average is $11.83 and its 200 day moving average is $11.11. Core Scientific has a 52 week low of $6.20 and a 52 week high of $18.63.

Core Scientific (NASDAQ:CORZ - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.10) earnings per share 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 the consensus estimate of $92.04 million. During the same period in the prior year, the company posted $0.78 EPS. The company's quarterly revenue was down 55.6% on a year-over-year basis. On average, sell-side analysts predict that Core Scientific will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Core Scientific

In other news, Director Yadin Rozov bought 110,000 shares of the stock in a transaction on Wednesday, May 28th. The shares were bought at an average price of $10.87 per share, with a total value of $1,195,700.00. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Todd M. Duchene sold 60,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $11.33, for a total value of $679,800.00. Following the completion of the transaction, the insider owned 2,100,102 shares of the company's stock, valued at approximately $23,794,155.66. This represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,759 shares of company stock valued at $1,391,434. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Core Scientific

Institutional investors have recently added to or reduced their stakes in the business. Wellington Shields & Co. LLC acquired a new stake in Core Scientific in the 4th quarter worth about $26,000. State of Wyoming acquired a new stake in shares of Core Scientific in the first quarter worth approximately $34,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Core Scientific in the first quarter valued at approximately $38,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Core Scientific during the first quarter worth approximately $50,000. Finally, CWM LLC raised its stake in Core Scientific by 403.9% during the first quarter. CWM LLC now owns 8,092 shares of the company's stock worth $59,000 after purchasing an additional 6,486 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.