Core Scientific, Inc. (NASDAQ:CORZ) Given Average Rating of “Hold” by Analysts

Shares of Core Scientific, Inc. (NASDAQ:CORZ) have received an average recommendation of “Hold” from the twenty-three ratings firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $22.3947.

Several equities research analysts have recently weighed in on the stock. Citizens Jmp downgraded shares of Core Scientific from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 14th. Barclays cut Core Scientific to an “underweight” rating in a research note on Tuesday, July 8th. B. Riley upgraded Core Scientific from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Wednesday, October 22nd. Oppenheimer reissued a “market perform” rating on shares of Core Scientific in a research report on Monday, July 7th. Finally, Macquarie upgraded Core Scientific from a “hold” rating to an “outperform” rating and raised their price objective for the stock from $18.00 to $34.00 in a research note on Friday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CORZ. HHM Wealth Advisors LLC grew its position in shares of Core Scientific by 96.5% during the 2nd 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 during the last quarter. Osaic Holdings Inc. grew its holdings in shares of Core Scientific by 112.1% during the second quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock valued at $34,000 after purchasing an additional 1,066 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Core Scientific by 68.3% during the second quarter. Advisors Asset Management Inc. now owns 2,690 shares of the company’s stock valued at $46,000 after purchasing an additional 1,092 shares during the last quarter. Bernard Wealth Management Corp. acquired a new stake in shares of Core Scientific during the 2nd quarter worth approximately $51,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Core Scientific by 396.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,731 shares of the company’s stock worth $64,000 after purchasing an additional 2,980 shares during the last quarter.

Core Scientific Stock Up 6.3%

Shares of CORZ opened at $22.90 on Tuesday. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of 152.68 and a beta of 6.59. The business’s 50 day moving average is $17.26 and its two-hundred day moving average is $13.99. Core Scientific has a 52-week low of $6.20 and a 52-week high of $23.63.

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

Core Scientific Company Profile

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.