Core Scientific, Inc. (NASDAQ:CORZ) Given Consensus Recommendation of “Moderate Buy” by Analysts

Core Scientific, Inc. (NASDAQ:CORZ) has been given an average recommendation of “Moderate Buy” by the twenty-two analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $23.3421.

CORZ has been the subject of several research reports. Jefferies Financial Group set a $24.00 target price on Core Scientific and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Core Scientific in a research note on Wednesday, October 8th. Roth Capital reaffirmed a “buy” rating on shares of Core Scientific in a research note on Friday, October 31st. Sanford C. Bernstein lifted their price objective on Core Scientific from $17.00 to $24.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Finally, Macquarie upgraded Core Scientific from a “hold” rating to an “outperform” rating and increased their target price for the company from $18.00 to $34.00 in a report on Friday, October 31st.

Insider Activity

In other news, Director Eric Stanton Weiss bought 5,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were purchased at an average price of $21.50 per share, for a total transaction of $107,500.00. Following the completion of the acquisition, the director owned 226,687 shares of the company’s stock, valued at approximately $4,873,770.50. This trade represents a 2.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Core Scientific

Large investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new stake in shares of Core Scientific during the fourth quarter worth about $1,252,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Core Scientific during the fourth quarter valued at approximately $163,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Core Scientific in the fourth quarter valued at $168,000. Silverleafe Capital Partners LLC purchased a new position in Core Scientific during the 4th quarter valued at $1,062,000. Finally, Moody National Bank Trust Division bought a new position in Core Scientific in the 4th quarter worth $816,000.

Core Scientific Stock Up 4.5%

CORZ opened at $18.89 on Friday. The stock has a market cap of $5.86 billion, a PE ratio of 125.94 and a beta of 6.87. Core Scientific has a 52 week low of $6.20 and a 52 week high of $23.63. The business’s fifty day simple moving average is $16.18 and its 200 day simple moving average is $16.13.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Friday, October 24th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.39. The firm had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $107.18 million. As a group, equities analysts anticipate that Core Scientific will post 0.52 earnings per share for the current year.

About Core Scientific

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.