Core Scientific, Inc. (NASDAQ:CORZ) Director Buys $24,752.00 in Stock

Core Scientific, Inc. (NASDAQ:CORZ) Director Jarrod M. Patten purchased 2,240 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average cost of $11.05 per share, with a total value of $24,752.00. Following the acquisition, the director now owns 300,000 shares in the company, valued at approximately $3,315,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Core Scientific Stock Up 4.8 %

Shares of CORZ stock opened at $12.03 on Thursday. The firm’s 50-day moving average is $10.11 and its two-hundred day moving average is $6.93. Core Scientific, Inc. has a 12 month low of $2.61 and a 12 month high of $12.48.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($4.51) EPS for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The firm had revenue of $141.10 million for the quarter, compared to analysts’ expectations of $128.58 million. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities analysts predict that Core Scientific, Inc. will post 0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Core Scientific

Several large investors have recently modified their holdings of the business. Banque Cantonale Vaudoise acquired a new stake in shares of Core Scientific during the 2nd quarter worth about $28,000. Aspect Partners LLC purchased a new stake in Core Scientific in the first quarter valued at approximately $29,000. Sunbelt Securities Inc. acquired a new position in Core Scientific during the second quarter worth $33,000. Hexagon Capital Partners LLC purchased a new position in shares of Core Scientific during the first quarter worth $34,000. Finally, Lindbrook Capital LLC acquired a new stake in shares of Core Scientific in the first quarter valued at $65,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. B. Riley raised shares of Core Scientific from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $0.50 to $13.00 in a research note on Wednesday, July 17th. BTIG Research lifted their price target on Core Scientific from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price objective on shares of Core Scientific in a research note on Tuesday, September 3rd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $17.00 target price on shares of Core Scientific in a research note on Tuesday, September 10th. Finally, Needham & Company LLC started coverage on shares of Core Scientific in a research report on Wednesday, September 4th. They issued a “buy” rating and a $16.00 target price for the company. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $14.88.

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.