Core Scientific (NASDAQ:CORZ) Upgraded at Zacks Research

Zacks Research upgraded shares of Core Scientific (NASDAQ:CORZ) from a strong sell rating to a hold rating in a research note released on Tuesday,Zacks.com reports.

Several other brokerages also recently commented on CORZ. Craig Hallum set a $27.00 price target on shares of Core Scientific in a report on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Core Scientific in a research note on Wednesday, October 8th. Roth Capital restated a “buy” rating on shares of Core Scientific in a research note on Friday, October 31st. Jefferies Financial Group set a $24.00 price target on Core Scientific and gave the company a “buy” rating in a report on Tuesday, October 28th. Finally, B. Riley raised Core Scientific from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.39.

Core Scientific Stock Up 3.2%

CORZ stock opened at $17.08 on Tuesday. The firm has a market capitalization of $5.30 billion, a PE ratio of 113.87 and a beta of 6.77. Core Scientific has a twelve month low of $6.20 and a twelve month high of $23.63. The stock has a 50-day simple moving average of $18.01 and a two-hundred day simple moving average of $15.24.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings data on Friday, October 24th. The company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.39. The firm had revenue of $81.10 million during the quarter, compared to the consensus estimate of $107.18 million. On average, equities research analysts anticipate that Core Scientific will post 0.52 EPS for the current fiscal year.

Insider Transactions at Core Scientific

In related news, Director Eric Stanton Weiss acquired 5,000 shares of Core Scientific stock in a transaction dated Tuesday, November 4th. The shares were purchased at an average cost of $21.50 per share, with a total value of $107,500.00. Following the completion of the purchase, the director owned 226,687 shares of the company’s stock, valued at $4,873,770.50. This represents a 2.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Core Scientific

Several institutional investors have recently bought and sold shares of CORZ. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Core Scientific by 20.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,857 shares of the company’s stock valued at $448,000 after purchasing an additional 10,300 shares during the last quarter. LPL Financial LLC increased its stake in shares of Core Scientific by 3.9% in the first quarter. LPL Financial LLC now owns 437,463 shares of the company’s stock worth $3,167,000 after buying an additional 16,250 shares during the period. XTX Topco Ltd bought a new stake in Core Scientific during the 1st quarter valued at $401,000. Arkadios Wealth Advisors purchased a new stake in Core Scientific during the 1st quarter valued at $145,000. Finally, US Bancorp DE grew its holdings in Core Scientific by 23.7% in the 1st quarter. US Bancorp DE now owns 8,682 shares of the company’s stock worth $63,000 after acquiring an additional 1,663 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.