Core Scientific (NASDAQ:CORZ) PT Raised to $10.00

Core Scientific (NASDAQ:CORZGet Free Report) had its price objective upped by equities researchers at BTIG Research from $8.00 to $10.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price indicates a potential upside of 39.86% from the company’s current price.

Separately, HC Wainwright reissued a “buy” rating and set a $5.00 target price on shares of Core Scientific in a research note on Wednesday, March 13th.

Read Our Latest Stock Report on CORZ

Core Scientific Price Performance

Shares of CORZ opened at $7.15 on Thursday. The firm has a fifty day moving average of $3.76 and a 200-day moving average of $2.77. Core Scientific has a 1 year low of $2.61 and a 1 year high of $7.27.

Core Scientific (NASDAQ:CORZGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.14. The firm had revenue of $179.29 million during the quarter, compared to the consensus estimate of $139.60 million. Analysts expect that Core Scientific will post -0.17 earnings per share for the current year.

Insider Activity at Core Scientific

In other Core Scientific news, Director Eric Stanton Weiss purchased 15,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of $3.03 per share, for a total transaction of $45,450.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $45,450. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Eric Stanton Weiss purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average price of $3.03 per share, with a total value of $45,450.00. Following the purchase, the director now owns 15,000 shares of the company’s stock, valued at approximately $45,450. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam Taylor Sullivan bought 65,300 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was purchased at an average price of $3.06 per share, with a total value of $199,818.00. Following the completion of the acquisition, the chief executive officer now owns 93,753 shares of the company’s stock, valued at $286,884.18. The disclosure for this purchase can be found here. Company insiders own 32.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Barings LLC acquired a new position in shares of Core Scientific in the 1st quarter valued at about $36,515,000. Vanguard Group Inc. acquired a new stake in shares of Core Scientific during the 1st quarter valued at $21,973,000. Kensico Capital Management Corp purchased a new position in shares of Core Scientific during the 1st quarter valued at $18,513,000. Vident Advisory LLC purchased a new stake in shares of Core Scientific during the first quarter worth $4,047,000. Finally, Blair William & Co. IL acquired a new stake in Core Scientific during the first quarter valued at $1,156,000.

About Core Scientific

(Get Free Report)

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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