Core Scientific (NASDAQ:CORZ) Shares Gap Up Following Analyst Upgrade

Core Scientific, Inc. (NASDAQ:CORZGet Free Report)’s stock price gapped up prior to trading on Thursday after BTIG Research raised their price target on the stock from $8.00 to $10.00. The stock had previously closed at $7.15, but opened at $7.33. BTIG Research currently has a buy rating on the stock. Core Scientific shares last traded at $7.22, with a volume of 1,516,740 shares changing hands.

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

View Our Latest Stock Analysis on Core Scientific

Insiders Place Their Bets

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

Institutional Investors Weigh In On Core Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Aspect Partners LLC acquired a new stake in Core Scientific during the first quarter worth approximately $29,000. Hexagon Capital Partners LLC acquired a new position in Core Scientific in the 1st quarter valued at $34,000. Lindbrook Capital LLC bought a new stake in shares of Core Scientific during the 1st quarter valued at $65,000. Fiduciary Alliance LLC acquired a new stake in shares of Core Scientific during the 1st quarter worth $84,000. Finally, Dorsey & Whitney Trust CO LLC bought a new position in shares of Core Scientific in the first quarter worth $122,000.

Core Scientific Price Performance

The stock has a 50-day moving average of $3.85 and a 200 day moving average of $2.81.

Core Scientific (NASDAQ:CORZGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported $0.19 EPS 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. On average, analysts expect that Core Scientific, Inc. will post -0.17 EPS for the current fiscal year.

Core Scientific Company Profile

(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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