Core Scientific, Inc. (NASDAQ:CORZ) Given Average Recommendation of “Moderate Buy” by Analysts

Core Scientific, Inc. (NASDAQ:CORZ) has earned an average recommendation of “Moderate Buy” from the twenty-two research firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, thirteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $23.1842.

Several equities analysts have recently commented on the company. Craig Hallum set a $27.00 price target on Core Scientific in a research note on Friday, October 31st. Citizens Jmp raised shares of Core Scientific from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Thursday, December 18th. Jefferies Financial Group set a $24.00 price target on shares of Core Scientific and gave the company a “buy” rating in a report on Tuesday, October 28th. Roth Capital reiterated a “buy” rating on shares of Core Scientific in a research note on Friday, October 31st. Finally, Cantor Fitzgerald boosted their price objective on shares of Core Scientific from $18.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th.

Insider Transactions at Core Scientific

In related news, Director Eric Stanton Weiss bought 5,000 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were bought at an average price of $21.50 per share, for a total transaction of $107,500.00. Following the completion of the purchase, the director directly owned 226,687 shares of the company’s stock, valued at approximately $4,873,770.50. This trade represents a 2.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Allworth Financial LP increased its position in shares of Core Scientific by 206.5% during the third quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after purchasing an additional 950 shares in the last quarter. HHM Wealth Advisors LLC grew its stake in Core Scientific by 96.5% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company’s stock worth $33,000 after buying an additional 946 shares during the last quarter. Osaic Holdings Inc. grew its stake in Core Scientific by 112.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock worth $34,000 after buying an additional 1,066 shares during the last quarter. Advisors Asset Management Inc. increased its position in Core Scientific by 68.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,690 shares of the company’s stock valued at $46,000 after buying an additional 1,092 shares in the last quarter. Finally, Bernard Wealth Management Corp. purchased a new stake in Core Scientific in the second quarter valued at about $51,000.

Core Scientific Stock Performance

Shares of NASDAQ:CORZ opened at $15.29 on Wednesday. The firm’s 50 day simple moving average is $17.28 and its 200-day simple moving average is $15.81. Core Scientific has a one year low of $6.20 and a one year high of $23.63. The firm has a market cap of $4.74 billion, a PE ratio of 101.94 and a beta of 6.77.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data on Friday, October 24th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.39. The firm had revenue of $81.10 million during the quarter, compared to the consensus estimate of $107.18 million. Equities research analysts predict that Core Scientific will post 0.52 EPS for the current fiscal year.

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.