Macquarie Issues Positive Forecast for Core Scientific (NASDAQ:CORZ) Stock Price

Core Scientific (NASDAQ:CORZ) had its target price hoisted by Macquarie from $15.00 to $18.00 in a research note issued to investors on Monday,Benzinga reports. Macquarie currently has a neutral rating on the stock.

A number of other analysts also recently issued reports on the company. Roth Mkm reaffirmed a “buy” rating and set a $20.00 price target on shares of Core Scientific in a report on Thursday, June 26th. Craig Hallum downgraded Core Scientific from a “strong-buy” rating to a “hold” rating in a report on Monday, July 7th. Oppenheimer reaffirmed a “market perform” rating on shares of Core Scientific in a report on Monday, July 7th. B. Riley downgraded Core Scientific from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 9th. Finally, Compass Point began coverage on Core Scientific in a report on Monday, September 15th. They set a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Core Scientific currently has an average rating of “Hold” and a consensus price target of $18.71.

Core Scientific Trading Up 2.8%

NASDAQ:CORZ opened at $17.33 on Monday. The firm has a market cap of $5.29 billion, a PE ratio of -30.95 and a beta of 6.59. The stock has a fifty day moving average price of $14.66 and a 200 day moving average price of $11.94. Core Scientific has a 12-month low of $6.20 and a 12-month high of $18.63.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Friday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The company had revenue of $78.63 million during the quarter, compared to analysts’ expectations of $82.09 million. The company’s revenue was down 44.3% compared to the same quarter last year. Equities analysts forecast that Core Scientific will post 0.52 EPS for the current year.

Hedge Funds Weigh In On Core Scientific

Institutional investors have recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC increased its position in Core Scientific by 96.5% in the 2nd quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company’s stock valued at $33,000 after acquiring an additional 946 shares during the period. Osaic Holdings Inc. increased its position in Core Scientific by 112.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after acquiring an additional 1,066 shares during the period. Advisors Asset Management Inc. increased its position in Core Scientific by 68.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,690 shares of the company’s stock valued at $46,000 after acquiring an additional 1,092 shares during the period. Bernard Wealth Management Corp. acquired a new position in Core Scientific in the 2nd quarter valued at about $51,000. Finally, PNC Financial Services Group Inc. increased its position in Core Scientific by 396.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,731 shares of the company’s stock valued at $64,000 after acquiring an additional 2,980 shares during the period.

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.