Core Scientific (NASDAQ:CORZ) Now Covered by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods started coverage on shares of Core Scientific (NASDAQ:CORZ) in a research report released on Monday, Marketbeat.com reports. The firm issued an outperform rating and a $22.00 price objective on the stock.

A number of other analysts have also commented on CORZ. Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 price target on shares of Core Scientific in a report on Thursday, October 3rd. Craig Hallum began coverage on shares of Core Scientific in a research note on Tuesday, January 21st. They set a “buy” rating and a $24.00 target price for the company. Roth Mkm assumed coverage on Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 price target for the company. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a research note on Thursday, November 7th. Finally, HC Wainwright increased their price objective on Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $19.07.

Core Scientific Stock Performance

CORZ opened at $11.46 on Monday. The company has a fifty day moving average price of $15.25 and a two-hundred day moving average price of $13.02. The firm has a market capitalization of $3.20 billion and a PE ratio of -2.12. Core Scientific has a 52 week low of $2.61 and a 52 week high of $18.63.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The company had revenue of $95.35 million during the quarter, compared to analyst estimates of $94.80 million. Equities analysts forecast that Core Scientific will post 0.5 EPS for the current year.

Insiders Place Their Bets

In related news, insider Todd M. Duchene sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total transaction of $427,500.00. Following the sale, the insider now owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. This trade represents a 1.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the transaction, the chief executive officer now owns 3,758,793 shares of the company’s stock, valued at approximately $61,042,798.32. This represents a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 744,032 shares of company stock worth $11,863,966 over the last ninety days. Corporate insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

Several large investors have recently bought and sold shares of CORZ. ORG Wealth Partners LLC raised its stake in Core Scientific by 0.3% during the fourth quarter. ORG Wealth Partners LLC now owns 8,986,651 shares of the company’s stock worth $126,262,000 after acquiring an additional 26,649 shares in the last quarter. Parsifal Capital Management LP increased its position in Core Scientific by 3.9% during the 3rd quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company’s stock worth $64,196,000 after purchasing an additional 204,314 shares in the last quarter. Geode Capital Management LLC lifted its stake in Core Scientific by 26.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock valued at $62,594,000 after purchasing an additional 1,113,285 shares during the last quarter. State Street Corp boosted its position in Core Scientific by 17.0% in the third quarter. State Street Corp now owns 4,006,922 shares of the company’s stock valued at $47,522,000 after buying an additional 583,493 shares in the last quarter. Finally, Taconic Capital Advisors LP grew its stake in shares of Core Scientific by 178.7% during the third quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock worth $32,229,000 after buying an additional 1,742,462 shares during the last quarter.

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.