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

Core Scientific, Inc. (NASDAQ:CORZ)’s share price gapped up prior to trading on Tuesday after BTIG Research raised their price target on the stock from $10.00 to $15.00. The stock had previously closed at $8.73, but opened at $9.37. BTIG Research currently has a buy rating on the stock. Core Scientific shares last traded at $9.15, with a volume of 2,978,536 shares.

Separately, HC Wainwright increased their price objective on Core Scientific from $5.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday.

Insider Activity

In other news, insider Todd M. Duchene sold 3,770 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $9.99, for a total value of $37,662.30. Following the completion of the transaction, the insider now directly owns 393,428 shares of the company’s stock, valued at $3,930,345.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 32.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Core Scientific

Several institutional investors have recently modified their holdings of the business. Aspect Partners LLC bought a new position in Core Scientific during the first quarter valued at $29,000. Hexagon Capital Partners LLC bought a new position in Core Scientific during the first quarter valued at $34,000. Lindbrook Capital LLC bought a new position in Core Scientific during the first quarter valued at $65,000. Fiduciary Alliance LLC bought a new position in Core Scientific during the first quarter valued at $84,000. Finally, Dorsey & Whitney Trust CO LLC bought a new position in Core Scientific during the first quarter valued at $122,000.

Core Scientific Trading Up 7.3 %

The firm has a fifty day simple moving average of $5.51 and a two-hundred day simple moving average of $3.66.

Core Scientific (NASDAQ:CORZ) last announced 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 for the quarter, compared to the consensus estimate of $139.60 million. On average, equities research analysts predict that Core Scientific, Inc. will post -0.17 EPS for the current year.

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.