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

Core Scientific, Inc. (NASDAQ:CORZ) has earned an average rating of “Moderate Buy” from the twenty-one analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, fifteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $24.8382.

CORZ has been the subject of a number of research reports. Cantor Fitzgerald reduced their price objective on Core Scientific from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Canaccord Genuity Group upped their target price on Core Scientific from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Zacks Research raised Core Scientific from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 13th. Keefe, Bruyette & Woods lifted their price target on Core Scientific from $19.00 to $25.00 and gave the company a “moderate buy” rating in a report on Tuesday, January 27th. Finally, Wall Street Zen upgraded Core Scientific to a “sell” rating in a report on Saturday.

Institutional Trading of Core Scientific

Several large investors have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC increased its position in Core Scientific by 1.8% during the third quarter. ORG Wealth Partners LLC now owns 7,290,481 shares of the company’s stock worth $130,791,000 after buying an additional 128,284 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Core Scientific by 39.9% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 452,806 shares of the company’s stock worth $8,123,000 after buying an additional 129,133 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Core Scientific by 1,326.9% in the second quarter. Prudential Financial Inc. now owns 199,630 shares of the company’s stock worth $3,408,000 after buying an additional 185,640 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Core Scientific by 87.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 668,435 shares of the company’s stock worth $11,992,000 after acquiring an additional 311,813 shares in the last quarter. Finally, Castleark Management LLC bought a new stake in shares of Core Scientific during the 2nd quarter worth about $7,648,000.

Core Scientific Stock Performance

Core Scientific stock opened at $16.49 on Monday. Core Scientific has a twelve month low of $6.20 and a twelve month high of $23.63. The firm has a market cap of $5.20 billion, a PE ratio of 14.09 and a beta of 6.86. The firm’s 50 day moving average price is $17.38 and its two-hundred day moving average price is $17.07.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Monday, March 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The company had revenue of $79.76 million for the quarter, compared to analyst estimates of $118.45 million. During the same period last year, the business earned ($0.69) EPS. The company’s quarterly revenue was down 16.0% on a year-over-year basis. Equities analysts anticipate that Core Scientific will post 0.52 EPS 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.