Core Scientific (NASDAQ:CORZ) Price Target Raised to $10.00 at BTIG Research

Core Scientific (NASDAQ:CORZ) had its price target hoisted by BTIG Research from $8.00 to $10.00 in a research report released on Thursday, Benzinga reports. BTIG Research currently has a buy rating on the stock.

Separately, HC Wainwright reissued a buy rating and set a $5.00 price objective on shares of Core Scientific in a report on Wednesday, March 13th.

Core Scientific Trading Down 0.9 %

Shares of CORZ stock opened at $7.78 on Thursday. The stock has a fifty day simple moving average of $3.93 and a two-hundred day simple moving average of $2.89. Core Scientific has a twelve month low of $2.61 and a twelve month high of $8.41.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.14. The business had revenue of $179.29 million for the quarter, compared to the consensus estimate of $139.60 million. Equities research analysts predict that Core Scientific will post -0.17 earnings per share for the current fiscal year.

Insider Activity at Core Scientific

In other news, Director Eric Stanton Weiss bought 15,000 shares of Core Scientific stock in a transaction on Friday, March 15th. The stock was acquired at an average cost of $3.03 per share, for a total transaction of $45,450.00. Following the completion of the acquisition, the director now owns 15,000 shares of the company’s stock, valued at approximately $45,450. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Eric Stanton Weiss bought 15,000 shares of the stock in a transaction on Friday, March 15th. The stock was bought at an average cost of $3.03 per share, for a total transaction of $45,450.00. Following the completion of the purchase, the director now directly owns 15,000 shares in the company, valued at $45,450. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam Taylor Sullivan purchased 65,300 shares of Core Scientific stock in a transaction dated Friday, March 15th. The shares were acquired at an average cost of $3.06 per share, for a total transaction of $199,818.00. Following the completion of the transaction, the chief executive officer now owns 93,753 shares of the company’s stock, valued at approximately $286,884.18. The disclosure for this purchase can be found here. 32.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Barings LLC acquired a new stake in Core Scientific in the first quarter worth about $36,515,000. Vanguard Group Inc. acquired a new stake in Core Scientific in the 1st quarter worth approximately $21,973,000. Kensico Capital Management Corp purchased a new stake in Core Scientific during the 1st quarter worth approximately $18,513,000. Vident Advisory LLC acquired a new position in Core Scientific during the 1st quarter valued at approximately $4,047,000. Finally, Blair William & Co. IL purchased a new position in shares of Core Scientific in the first quarter worth $1,156,000.

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.