Core Scientific (NASDAQ:CORZ) Shares Gap Down to $2.41

Core Scientific, Inc. (NASDAQ:CORZGet Rating)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at 2.41, but opened at 2.32. Core Scientific shares last traded at 2.43, with a volume of 11,369 shares trading hands.

Wall Street Analyst Weigh In

CORZ has been the topic of several research analyst reports. BTIG Research lowered their price target on Core Scientific from $18.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, June 3rd. B. Riley lowered their price target on Core Scientific from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. Cowen initiated coverage on Core Scientific in a research report on Friday, June 24th. They issued an “outperform” rating and a $3.10 price target on the stock. Chardan Capital started coverage on Core Scientific in a research report on Friday, June 3rd. They issued a “buy” rating and a $8.00 price target on the stock. Finally, Cowen started coverage on Core Scientific in a research report on Friday, June 24th. They set an “outperform” rating and a $3.10 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of 7.37.

Core Scientific Stock Performance

The business has a 50-day moving average price of 2.19. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.95 and a quick ratio of 1.95.

Core Scientific (NASDAQ:CORZGet Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported 0.31 earnings per share for the quarter, beating analysts’ consensus estimates of 0.13 by 0.18. The company had revenue of 192.52 million for the quarter, compared to analyst estimates of 164.20 million. Analysts anticipate that Core Scientific, Inc. will post 0.72 EPS for the current year.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, insider Darin Feinstein sold 1,124,147 shares of Core Scientific stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of 3.65, for a total transaction of 4,103,136.55. Following the sale, the insider now directly owns 34,909,445 shares of the company’s stock, valued at 127,419,474.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 2,074,147 shares of company stock valued at $7,303,137. 32.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Ovata Capital Management Ltd bought a new position in shares of Core Scientific in the first quarter valued at approximately $25,000. Sterling Investment Advisors Ltd. bought a new position in shares of Core Scientific in the first quarter valued at approximately $33,000. New York State Common Retirement Fund bought a new position in shares of Core Scientific in the first quarter valued at approximately $40,000. Quantbot Technologies LP bought a new position in shares of Core Scientific in the first quarter valued at approximately $56,000. Finally, Lee Financial Co bought a new position in shares of Core Scientific in the first quarter valued at approximately $71,000.

About Core Scientific

(Get Rating)

Core Scientific, Inc provides net carbon-neutral blockchain infrastructure and digital asset mining solutions in North America. It operates in two segments, Equipment Sales and Hosting. It offers blockchain hosting services with deployment and provide power, racks, proprietary thermodynamic management, redundant connectivity, and 24/7 security, as well as its proprietary software platforms, such as Minder and MinderOS, which provides infrastructure management and custom firmware; and digital asset mining operation focuses on the generation of digital assets by solving complex cryptographic algorithms to validate transactions on specific digital asset network blockchains.

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