Core Scientific (NASDAQ:CORZ) Upgraded by Keefe, Bruyette & Woods to “Outperform” Rating

Core Scientific (NASDAQ:CORZ) was upgraded by Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued on Thursday, Marketbeat.com reports. The firm presently has a $28.00 price target on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 54.53% from the company’s current price.

CORZ has been the subject of a number of other reports. Freedom Capital upgraded shares of Core Scientific to a “hold” rating in a research report on Monday, June 15th. Canaccord Genuity Group boosted their target price on shares of Core Scientific from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday. Lucid Cap Mkts upgraded shares of Core Scientific to a “strong-buy” rating in a research report on Friday, June 12th. Loop Capital set a $40.00 price objective on Core Scientific in a report on Friday, June 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Core Scientific in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Core Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.60.

Core Scientific Trading Down 12.7%

Shares of CORZ opened at $18.12 on Thursday. Core Scientific has a 12 month low of $12.60 and a 12 month high of $30.46. The stock’s 50 day moving average is $25.22 and its two-hundred day moving average is $20.78. The firm has a market cap of $5.76 billion, a P/E ratio of -4.10 and a beta of 5.50.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The firm had revenue of $164.20 million during the quarter, compared to analyst estimates of $144.83 million. Equities research analysts forecast that Core Scientific will post 0.08 EPS for the current year.

Insider Activity

In other news, insider Todd M. Duchene sold 10,000 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $20.95, for a total value of $209,500.00. Following the completion of the sale, the insider directly owned 1,989,101 shares in the company, valued at $41,671,665.95. This represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 90,000 shares of company stock worth $2,234,900 over the last ninety days. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CORZ. Situational Awareness LP grew its position in shares of Core Scientific by 42.5% in the fourth quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock valued at $418,694,000 after purchasing an additional 8,575,944 shares in the last quarter. Value Aligned Research Advisors LLC acquired a new position in Core Scientific during the fourth quarter worth $117,786,000. Vanguard Group Inc. grew its holdings in Core Scientific by 18.7% in the 4th quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock valued at $494,462,000 after buying an additional 5,359,710 shares in the last quarter. Fifth Third Bancorp purchased a new stake in Core Scientific in the 1st quarter valued at $59,802,000. Finally, Bank of America Corp DE increased its stake in shares of Core Scientific by 412.5% in the 1st quarter. Bank of America Corp DE now owns 4,806,363 shares of the company’s stock worth $71,903,000 after acquiring an additional 3,868,535 shares during the last quarter.

More Core Scientific News

Here are the key news stories impacting Core Scientific this week:

• Positive Sentiment: AMD deal accelerates Core Scientific’s shift from bitcoin mining to AI data centers. AMD agreed to support up to 2.5 gigawatts of capacity, including roughly 529–530 megawatts covered by long-term agreements across five sites. The initial contracts span 15 years and represent approximately $14 billion in potential base revenue, subject to successful development and deployment. AMD also received warrants to buy up to 30 million CORZ shares at $23.47. AMD and Core Scientific infrastructure partnership
• Positive Sentiment: Analysts remain broadly optimistic. Needham and BTIG reaffirmed Buy ratings, with price targets of $29 and $38, respectively. Canaccord also raised its target to $36. These targets reflect expectations that contracted AI colocation revenue will support significant long-term growth. Needham Buy rating article BTIG Buy rating article
• Positive Sentiment: Colocation momentum is improving the business mix. Second-quarter revenue reached $164.2 million, above the $144.8 million consensus estimate, while colocation revenue increased sharply year over year. This supports the view that CORZ is becoming less dependent on volatile cryptocurrency economics.
• Neutral Sentiment: Mark Adams joined the board. The technology executive brings experience in AI infrastructure, semiconductors and storage, potentially strengthening Core Scientific’s ability to execute its data-center strategy. Core Scientific board appointment
• Negative Sentiment: The quarter included a severe GAAP loss and major capital requirements. Core Scientific reported a $3.32-per-share loss versus expectations for a $0.06 loss, although the deficit was largely tied to noncash warrant fair-value adjustments. Capital expenditures were approximately $797.5 million as sites are converted for high-density computing.
• Negative Sentiment: Downgrade and dilution concerns are weighing on sentiment. Keefe, Bruyette & Woods lowered CORZ to Market Perform. AMD’s warrants could dilute shareholders if exercised, while insider Todd Duchene sold 10,000 shares in a recent transaction, reducing his stake by about 0.5%. KBW downgrade article

Core Scientific Company Profile

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.