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

Core Scientific, Inc. (NASDAQ:CORZGet Free Report) shares gapped up prior to trading on Wednesday after HC Wainwright raised their price target on the stock from $11.00 to $15.00. The stock had previously closed at $9.56, but opened at $9.97. HC Wainwright currently has a buy rating on the stock. Core Scientific shares last traded at $9.82, with a volume of 1,576,863 shares changing hands.

A number of other brokerages have also weighed in on CORZ. BTIG Research upped their target price on Core Scientific from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $14.50 target price on shares of Core Scientific in a research report on Tuesday, July 2nd. Finally, Sanford C. Bernstein initiated coverage on Core Scientific in a research report on Wednesday. They set an “outperform” rating and a $17.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $14.00.

View Our Latest Report on Core Scientific

Insider Activity at Core Scientific

In related news, insider Todd M. Duchene sold 7,321 shares of the stock in a transaction 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 sale, the insider now directly owns 359,877 shares of the company’s stock, valued at approximately $3,379,245.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Core Scientific news, insider Todd M. Duchene sold 3,770 shares of the company’s stock in a transaction 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 in the company, valued at approximately $3,930,345.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Todd M. Duchene sold 7,321 shares of the company’s stock in a transaction 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 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.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Rise Advisors LLC bought a new position in Core Scientific in the 2nd quarter valued at $65,000. Aspect Partners LLC bought a new position in shares of Core Scientific during the 1st quarter worth $29,000. Hexagon Capital Partners LLC bought a new position in shares of Core Scientific during the 1st quarter worth $34,000. Lindbrook Capital LLC bought a new position in shares of Core Scientific during the 1st quarter worth $65,000. Finally, Fiduciary Alliance LLC bought a new position in shares of Core Scientific during the 1st quarter worth $84,000.

Core Scientific Stock Performance

The firm has a 50 day moving average price of $6.85 and a two-hundred day moving average price of $4.30.

Core Scientific (NASDAQ:CORZGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share for the quarter, topping 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, research analysts forecast that Core Scientific, Inc. will post -0.07 earnings per share for the current fiscal year.

Core Scientific Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Core Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Core Scientific and related companies with MarketBeat.com's FREE daily email newsletter.