Core Scientific’s (CORZ) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Core Scientific (NASDAQ:CORZ) in a research note published on Thursday, Benzinga reports. They currently have a $20.00 price target on the stock.

Other analysts also recently issued reports about the company. BTIG Research increased their price target on Core Scientific from $10.00 to $15.00 and gave the stock a buy rating in a report on Wednesday, June 26th. LADENBURG THALM/SH SH reiterated a buy rating and issued a $14.50 target price on shares of Core Scientific in a report on Tuesday, July 2nd. B. Riley raised Core Scientific from a neutral rating to a buy rating and boosted their price target for the company from $0.50 to $13.00 in a research note on Wednesday, July 17th. HC Wainwright raised their price objective on shares of Core Scientific from $11.00 to $15.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. Finally, Sanford C. Bernstein assumed coverage on shares of Core Scientific in a research report on Wednesday, July 10th. They set an outperform rating and a $17.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Core Scientific currently has a consensus rating of Buy and a consensus target price of $14.71.

Core Scientific Stock Performance

NASDAQ:CORZ traded down $0.44 on Thursday, reaching $9.70. 7,280,499 shares of the stock traded hands, compared to its average volume of 7,618,035. Core Scientific has a 1-year low of $2.61 and a 1-year high of $12.25. The company’s 50 day moving average is $9.39 and its 200-day moving average is $5.53.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.14. The firm had revenue of $179.29 million for the quarter, compared to analyst estimates of $139.60 million. Research analysts anticipate that Core Scientific will post 0.51 earnings per share for the current year.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 7,321 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $9.39, for a total value of $68,744.19. Following the transaction, the insider now directly owns 359,877 shares of the company’s stock, valued at $3,379,245.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Core Scientific news, insider Todd M. Duchene sold 7,321 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total transaction of $68,744.19. Following the completion of the sale, the insider now directly owns 359,877 shares of the company’s stock, valued at approximately $3,379,245.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Todd M. Duchene sold 3,770 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $9.99, for a total value of $37,662.30. Following the completion of the sale, the insider now directly owns 393,428 shares of the company’s stock, valued at $3,930,345.72. The disclosure for this sale can be found here. 32.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new stake in Core Scientific in the 2nd quarter valued at about $28,000. Aspect Partners LLC bought a new position in shares of Core Scientific in the first quarter valued at approximately $29,000. Hexagon Capital Partners LLC purchased a new stake in shares of Core Scientific during the first quarter valued at approximately $34,000. Lindbrook Capital LLC bought a new stake in Core Scientific during the first quarter worth $65,000. Finally, Rise Advisors LLC purchased a new position in Core Scientific in the second quarter worth $65,000.

Core Scientific Company Profile

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.