Core Scientific (NASDAQ:CORZ) PT Raised to $15.00

Core Scientific (NASDAQ:CORZ) had its target price lifted by research analysts at BTIG Research from $10.00 to $15.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective suggests a potential upside of 57.07% from the stock’s current price.

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

Core Scientific Stock Down 4.0 %

CORZ opened at $9.55 on Wednesday. Core Scientific has a twelve month low of $2.61 and a twelve month high of $10.70. The company has a 50-day simple moving average of $5.64 and a 200 day simple moving average of $3.70.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Wednesday, May 8th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.05 by $0.14. The business had revenue of $179.29 million for the quarter, compared to analyst estimates of $139.60 million. Sell-side analysts anticipate that Core Scientific will post -0.17 EPS for the current year.

Insiders Place Their Bets

In other news, insider Todd M. Duchene sold 7,321 shares of the company’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 value of $68,744.19. Following the completion of the transaction, the insider now 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 is accessible through this link. 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 owns 393,428 shares of the company’s stock, valued at $3,930,345.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Todd M. Duchene sold 7,321 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 359,877 shares of the company’s stock, valued at approximately $3,379,245.03. The disclosure for this sale can be found here. Insiders own 32.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Barings LLC acquired a new stake in Core Scientific during the 1st quarter valued at approximately $36,515,000. Vanguard Group Inc. acquired a new stake in Core Scientific during the 1st quarter valued at approximately $21,973,000. Kensico Capital Management Corp acquired a new stake in Core Scientific during the 1st quarter valued at approximately $18,513,000. Vident Advisory LLC acquired a new stake in Core Scientific during the 1st quarter valued at approximately $4,047,000. Finally, Blair William & Co. IL acquired a new stake in Core Scientific during the 1st quarter valued at approximately $1,156,000.

About Core Scientific

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.