Core Scientific (NASDAQ:CORZ) Given “Neutral” Rating at Macquarie

Macquarie reaffirmed their neutral rating on shares of Core Scientific (NASDAQ:CORZ) in a research report released on Tuesday,Benzinga reports. They currently have a $15.00 price target on the stock.

A number of other equities analysts have also issued reports on the company. Needham & Company LLC lowered Core Scientific from a “moderate buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research note on Thursday, July 10th. JMP Securities restated a “market perform” rating on shares of Core Scientific in a research note on Tuesday, August 12th. Jefferies Financial Group upped their target price on Core Scientific from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Monday. Barclays downgraded shares of Core Scientific to an “underweight” rating in a report on Tuesday, July 8th. Finally, Roth Mkm restated a “buy” rating and set a $20.00 price objective on shares of Core Scientific in a research note on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Core Scientific presently has an average rating of “Hold” and an average price target of $18.47.

Core Scientific Trading Down 1.2%

NASDAQ CORZ opened at $14.35 on Tuesday. The stock has a market cap of $4.38 billion, a PE ratio of -25.63 and a beta of 6.60. Core Scientific has a 12 month low of $6.20 and a 12 month high of $18.63. The company’s 50-day moving average price is $13.87 and its 200-day moving average price is $11.04.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.03. The firm had revenue of $78.63 million during the quarter, compared to the consensus estimate of $82.09 million. The business’s quarterly revenue was down 44.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Core Scientific will post 0.52 earnings per share for the current year.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, insider Todd M. Duchene sold 60,000 shares of Core Scientific stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $11.33, for a total value of $679,800.00. Following the sale, the insider owned 2,100,102 shares of the company’s stock, valued at approximately $23,794,155.66. The trade was a 2.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yadin Rozov bought 110,000 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were acquired at an average cost of $10.87 per share, with a total value of $1,195,700.00. Following the completion of the purchase, the director owned 475,687 shares in the company, valued at approximately $5,170,717.69. This represents a 30.08% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 117,759 shares of company stock worth $1,391,434 over the last three months. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Core Scientific

Several hedge funds have recently bought and sold shares of the company. HHM Wealth Advisors LLC raised its holdings in shares of Core Scientific by 96.5% in the second quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company’s stock worth $33,000 after acquiring an additional 946 shares during the last quarter. State of Wyoming acquired a new stake in Core Scientific during the first quarter worth approximately $34,000. Emerald Mutual Fund Advisers Trust acquired a new stake in Core Scientific during the first quarter worth approximately $38,000. Advisors Asset Management Inc. grew its stake in Core Scientific by 68.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,690 shares of the company’s stock worth $46,000 after acquiring an additional 1,092 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Core Scientific in the 1st quarter valued at $50,000.

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.