Core Scientific (NASDAQ:CORZ) trading rose 4.6%

VaselineSeptember 18, 2024

0 3 minutes read

Shares of Core Scientific, Inc. (NASDAQ:CORZ – Get Free Report ) rose 4.6% during trading on Wednesday. The stock traded as high as $12.02 and last traded at $12.01. 3,237,282 shares were traded mid-day, down 61% from the session’s average volume of 8,381,450 shares. Shares previously closed at $11.48.

Analysts set new price targets

Several brokerages have recently commented on CORZ. Sanford C. Bernstein restated an “outperform” rating and issued a $17.00 price target on shares of Core Scientific in a research note on Tuesday, September 10th. BTIG Research upped their target price on shares of Core Scientific from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. HC Wainwright upped their price target on shares of Core Scientific from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. B. Riley raised shares of Core Scientific from a “neutral” rating to a “buy” rating and boosted their price target for the company from $0.50 to $13.00 in a research report on Wednesday. July 17. Finally, Needham & Company LLC initiated coverage on shares of Core Scientific in a research report on Wednesday, September 4th. They issued a “buy” rating and a $16.00 target price on the stock. Eight research analysts have rated the stock with a buy rating. Core Scientific presently has an average rating of “Buy” and a consensus price target of $14.88, based on data from MarketBeat.com.

Read the latest stock analysis on CORZ

Basic science trading up 4.0%

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The company’s fifty day moving average price is $10.07 and its 200 day moving average price is $6.90.

Core Scientific (NASDAQ:CORZ – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($4.47). The firm had revenue of $141.10 million for the quarter, compared to the consensus estimate of $128.58 million. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, research analysts predict that Core Scientific, Inc. will post 0.01 earnings per share for the current fiscal year.

Insider trading at Core Scientific

In other news, insider Todd M. Duchene sold 11,582 shares of Core Scientific stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $108,986.62. Following the completion of the sale, the insider now directly owns 1,686,474 shares of the company’s stock, valued at approximately $15,869,720.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this hyperlink. In other Core Scientific news, insider Todd M. Duchene sold 7,321 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $9.39, for a total value of $68,744.19. Following the completion of the sale, the insider now directly owns 359,877 shares of the company’s stock, valued at $3,379,245.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. Also, insider Todd M. Duchene sold 11,582 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.41, for a total transaction of $108,986.62. Following the transaction, the insider now directly owns 1,686,474 shares of the company’s stock, valued at $15,869,720.34. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 12,761 shares of company stock valued at $127,080 and sold 27,655 shares valued at $260,087. 32.00% of shares are currently owned by insiders.

Hedge funds affect Core Scientific

Several hedge funds and other institutional investors have recently modified their holdings of CORZ. Banque Cantonale Vaudoise bought a new position in shares of Core Scientific during the second quarter valued at about $28,000. Aspect Partners LLC bought a new position in shares of Core Scientific in the first quarter valued at approximately $29,000. Sunbelt Securities Inc. bought a new position in shares of Core Scientific during the second quarter valued at approximately $33,000. Hexagon Capital Partners LLC bought a new position in shares of Core Scientific in the first quarter valued at about $34,000. Finally, Lindbrook Capital LLC bought a new position in shares of Core Scientific in the first quarter valued at about $65,000.

Basic Science Company Profile

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Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company provides blockchain infrastructure, software solutions and services; and operates mining data centers. It also extracts digital assets for its own account; and provides hosting services for other large bitcoin miners, which includes the implementation, monitoring, debugging, optimization and maintenance of its customers’ digital asset mining equipment.