Core Scientific (NASDAQ:CORZ) Given New $29.00 Price Target at Cantor Fitzgerald

Core Scientific (NASDAQ:CORZ) had its price target lifted by Cantor Fitzgerald from $25.00 to $29.00 in a research report sent to investors on Thursday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Zacks Research raised shares of Core Scientific from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 13th. Citigroup raised shares of Core Scientific from a “market perform” rating to an “outperform” rating in a report on Thursday, December 18th. LADENBURG THALM/SH SH cut their price target on shares of Core Scientific from $24.50 to $23.75 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Wall Street Zen raised shares of Core Scientific to a “sell” rating in a report on Saturday, March 14th. Finally, Needham & Company LLC raised shares of Core Scientific from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.07.

Core Scientific Stock Up 1.8%

Shares of Core Scientific stock opened at $17.98 on Thursday. The firm has a market cap of $5.67 billion, a PE ratio of 15.37 and a beta of 6.34. Core Scientific has a 12-month low of $6.30 and a 12-month high of $23.63. The company’s fifty day simple moving average is $16.68 and its two-hundred day simple moving average is $17.20.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Monday, March 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The firm had revenue of $79.76 million during the quarter, compared to the consensus estimate of $118.45 million. Core Scientific’s revenue was down 16.0% on a year-over-year basis. During the same period last year, the business earned ($0.69) EPS. As a group, sell-side analysts expect that Core Scientific will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Core Scientific

In other news, insider Todd M. Duchene sold 10,000 shares of Core Scientific stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $16.49, for a total transaction of $164,900.00. Following the sale, the insider owned 2,037,089 shares of the company’s stock, valued at approximately $33,591,597.61. The trade was a 0.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Core Scientific

A number of large investors have recently modified their holdings of CORZ. Jericho Capital Asset Management L.P. bought a new stake in shares of Core Scientific during the 3rd quarter valued at about $209,895,000. Situational Awareness LP boosted its stake in Core Scientific by 42.5% during the fourth quarter. Situational Awareness LP now owns 28,756,478 shares of the company’s stock worth $418,694,000 after acquiring an additional 8,575,944 shares in the last quarter. Value Aligned Research Advisors LLC bought a new stake in Core Scientific during the fourth quarter worth about $117,786,000. Oaktree Capital Management LP bought a new stake in Core Scientific during the third quarter worth about $114,829,000. Finally, Vanguard Group Inc. boosted its stake in Core Scientific by 18.7% during the fourth quarter. Vanguard Group Inc. now owns 33,960,320 shares of the company’s stock worth $494,462,000 after acquiring an additional 5,359,710 shares in the last quarter.

Core Scientific Company Profile

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.