Core Scientific, Inc. (NASDAQ:CORZ) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Core Scientific, Inc. (NASDAQ:CORZ) have earned a consensus rating of “Moderate Buy” from the twenty-one analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $23.5278.

Several brokerages recently commented on CORZ. Roth Mkm reaffirmed a “buy” rating on shares of Core Scientific in a research report on Friday, October 31st. BTIG Research upgraded shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Tuesday, January 6th. Jefferies Financial Group set a $24.00 price target on shares of Core Scientific and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Craig Hallum set a $27.00 price target on shares of Core Scientific in a report on Friday, October 31st. Finally, Zacks Research upgraded Core Scientific from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 13th.

Insiders Place Their Bets

In related news, Director Eric Stanton Weiss purchased 5,000 shares of Core Scientific stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average cost of $21.50 per share, with a total value of $107,500.00. Following the completion of the transaction, the director directly owned 226,687 shares in the company, valued at approximately $4,873,770.50. The trade was a 2.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Core Scientific

Institutional investors have recently made changes to their positions in the stock. Xponance Inc. raised its position in shares of Core Scientific by 2.7% in the third quarter. Xponance Inc. now owns 22,334 shares of the company’s stock valued at $401,000 after buying an additional 595 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Core Scientific by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,029 shares of the company’s stock worth $377,000 after acquiring an additional 711 shares during the period. CWA Asset Management Group LLC grew its stake in shares of Core Scientific by 0.3% during the fourth quarter. CWA Asset Management Group LLC now owns 239,937 shares of the company’s stock valued at $3,493,000 after acquiring an additional 756 shares in the last quarter. Orion Porfolio Solutions LLC increased its stake in shares of Core Scientific by 5.2% in the third quarter. Orion Porfolio Solutions LLC now owns 15,539 shares of the company’s stock worth $279,000 after buying an additional 766 shares during the last quarter. Finally, HHM Wealth Advisors LLC raised its stake in Core Scientific by 96.5% during the second quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company’s stock valued at $33,000 after buying an additional 946 shares in the last quarter.

Core Scientific Price Performance

Shares of CORZ opened at $18.08 on Friday. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 120.54 and a beta of 6.87. The company has a 50-day moving average of $16.29 and a 200 day moving average of $16.15. Core Scientific has a 1-year low of $6.20 and a 1-year high of $23.63.

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

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.