Core Scientific (NASDAQ:CORZ) Given New $21.00 Price Target at Cantor Fitzgerald

Core Scientific (NASDAQ:CORZ) had its target price trimmed by Cantor Fitzgerald from $24.00 to $21.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

CORZ has been the subject of several other reports. Roth Mkm began coverage on Core Scientific in a research note on Friday, November 15th. They issued a “buy” rating and a $25.50 price target for the company. Macquarie boosted their target price on shares of Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. B. Riley boosted their price objective on shares of Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods started coverage on shares of Core Scientific in a research report on Monday, January 27th. They set an “outperform” rating and a $22.00 target price on the stock. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $19.07.

Core Scientific Stock Performance

NASDAQ CORZ opened at $10.71 on Thursday. Core Scientific has a 52-week low of $2.61 and a 52-week high of $18.63. The stock has a market cap of $2.99 billion and a PE ratio of -1.98. The firm has a 50-day moving average of $13.34 and a 200-day moving average of $13.28.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.09. The company had revenue of $94.93 million for the quarter, compared to analyst estimates of $97.07 million. As a group, analysts predict that Core Scientific will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Adam Taylor Sullivan sold 369,712 shares of Core Scientific 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 sale, the chief executive officer now directly owns 3,758,793 shares of the company’s stock, valued at approximately $61,042,798.32. The trade was a 8.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Todd M. Duchene sold 25,277 shares of the firm’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 $410,498.48. Following the completion of the sale, the insider now owns 2,023,423 shares in the company, valued at $32,860,389.52. This represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 614,032 shares of company stock worth $9,534,916 over the last three months. Insiders own 32.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CORZ. Creative Planning boosted its holdings in shares of Core Scientific by 88.0% during the 3rd quarter. Creative Planning now owns 32,925 shares of the company’s stock valued at $389,000 after acquiring an additional 15,413 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of Core Scientific during the third quarter valued at about $119,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Core Scientific by 96.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 78,077 shares of the company’s stock worth $926,000 after purchasing an additional 38,292 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Core Scientific by 22.9% during the third quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock worth $19,177,000 after purchasing an additional 300,942 shares during the last quarter. Finally, Harvest Portfolios Group Inc. increased its stake in shares of Core Scientific by 10.1% in the third quarter. Harvest Portfolios Group Inc. now owns 55,881 shares of the company’s stock valued at $663,000 after buying an additional 5,109 shares during the period.

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.