Core Scientific’s (CORZ) “Buy” Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Core Scientific (NASDAQ:CORZ) in a report issued on Tuesday morning, Marketbeat reports. BTIG Research currently has a $38.00 target price on the stock.

Several other brokerages have also recently weighed in on CORZ. Weiss Ratings reissued a “sell (d-)” rating on shares of Core Scientific in a research report on Friday, July 17th. B. Riley Financial raised their price objective on shares of Core Scientific from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Canaccord Genuity Group set a $30.00 target price on shares of Core Scientific in a research note on Friday, May 8th. Cantor Fitzgerald boosted their target price on shares of Core Scientific from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Finally, Keefe, Bruyette & Woods cut shares of Core Scientific from an “outperform” rating to a “market perform” rating and set a $25.00 price target for the company. in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Core Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $31.68.

Core Scientific Stock Performance

NASDAQ CORZ opened at $21.81 on Tuesday. The stock’s fifty day moving average is $25.16 and its two-hundred day moving average is $20.81. The firm has a market capitalization of $6.93 billion, a P/E ratio of -4.93 and a beta of 5.50. Core Scientific has a fifty-two week low of $12.60 and a fifty-two week high of $30.46.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The business had revenue of $164.20 million during the quarter, compared to the consensus estimate of $144.83 million. As a group, sell-side analysts forecast that Core Scientific will post 0.08 EPS for the current year.

Insider Activity at Core Scientific

In other news, insider Todd M. Duchene sold 10,000 shares of the company’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $20.95, for a total value of $209,500.00. Following the transaction, the insider owned 1,989,101 shares of the company’s stock, valued at $41,671,665.95. This represents a 0.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 90,000 shares of company stock valued at $2,234,900. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Core Scientific

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP lifted its position in Core Scientific by 206.5% in the third quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock valued at $25,000 after buying an additional 950 shares during the last quarter. Larson Financial Group LLC boosted its stake in Core Scientific by 936.7% during the fourth quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock worth $27,000 after buying an additional 1,686 shares during the period. Osaic Holdings Inc. increased its position 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 acquiring an additional 1,066 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Core Scientific during the fourth quarter valued at about $36,000. Finally, CoreCap Advisors LLC purchased a new stake in shares of Core Scientific in the 2nd quarter valued at approximately $36,000.

Key Stories Impacting Core Scientific

Here are the key news stories impacting Core Scientific this week:

• Positive Sentiment: AMD deal creates substantial long-term revenue potential. AMD is leasing up to 2.5 gigawatts of Core Scientific’s data-center capacity to support AI deployments. The initial 529-megawatt commitment is covered by long-term agreements across five sites, and Bernstein estimates the arrangement could generate approximately $14 billion over 15 years. The agreement also includes warrants allowing AMD to acquire up to 30 million CORZ shares at $23.47. AMD Core Scientific data-center deal
• Positive Sentiment: Analyst sentiment improved. Keefe, Bruyette & Woods upgraded CORZ to Outperform and raised its price target to $28 from $25. Needham and BTIG also issued Buy ratings, while Canaccord maintained Buy and lifted its target to $36 from $30. These actions reinforce the view that Core Scientific’s pivot from cryptocurrency mining to AI colocation could support higher valuation. Needham Buy rating
• Positive Sentiment: The AI transition is gaining operational traction. Recent quarterly revenue reached $164.2 million, exceeding estimates of $144.83 million, while colocation revenue reportedly rose sharply year over year. Investors may view the AMD contract as validation of Core Scientific’s ability to repurpose former Bitcoin-mining facilities for high-density computing.
• Neutral Sentiment: Board expansion adds technology expertise. Core Scientific appointed Mark W. Adams, a technology executive with experience in AI infrastructure and semiconductors, to its seven-member board. The appointment supports the company’s strategic repositioning but is unlikely to materially affect near-term results. Core Scientific board appointment
• Negative Sentiment: Losses, capital needs and dilution remain risks. Core Scientific reported a quarterly GAAP loss of $3.32 per share, substantially below the consensus loss estimate of $0.06, despite beating revenue expectations. Converting sites for AI workloads requires significant capital spending, and AMD’s warrants could dilute existing shareholders if exercised. Insider Todd Duchene also sold 10,000 shares in a recent transaction, although the sale reduced his stake by only about 0.5%.

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.