Core Scientific (NASDAQ:CORZ) Stock Rating Upgraded by Zacks Research

Core Scientific (NASDAQ:CORZ) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

CORZ has been the subject of several other reports. BTIG Research raised Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, January 6th. B. Riley raised shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Wednesday, October 22nd. UBS Group set a $30.00 price target on Core Scientific in a research report on Wednesday, October 22nd. Macquarie upgraded Core Scientific from a “hold” rating to an “outperform” rating and raised their target price for the company from $18.00 to $34.00 in a report on Friday, October 31st. Finally, Sanford C. Bernstein lifted their price objective on shares of Core Scientific from $17.00 to $24.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Core Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $23.34.

Core Scientific Trading Up 0.7%

Shares of CORZ stock traded up $0.12 during trading hours on Tuesday, reaching $18.04. 1,732,684 shares of the company’s stock were exchanged, compared to its average volume of 8,906,174. The stock’s 50 day moving average is $16.26 and its 200-day moving average is $16.11. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 120.06 and a beta of 6.87. Core Scientific has a fifty-two week low of $6.20 and a fifty-two week high of $23.63.

Core Scientific (NASDAQ:CORZ) last issued its earnings results on Friday, October 24th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.39. The business had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $107.18 million. Equities analysts anticipate that Core Scientific will post 0.52 EPS for the current year.

Insider Activity at Core Scientific

In other Core Scientific news, Director Eric Stanton Weiss acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were purchased at an average cost of $21.50 per share, with a total value of $107,500.00. Following the purchase, the director owned 226,687 shares in the company, valued at approximately $4,873,770.50. The trade was a 2.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Core Scientific

Large investors have recently added to or reduced their stakes in the business. Allworth Financial LP grew its holdings in shares of Core Scientific by 206.5% during the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after purchasing an additional 950 shares during the period. HHM Wealth Advisors LLC raised its holdings in Core Scientific by 96.5% in the second quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company’s stock valued at $33,000 after acquiring an additional 946 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in Core Scientific by 112.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock worth $34,000 after buying an additional 1,066 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Core Scientific by 68.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,690 shares of the company’s stock valued at $46,000 after acquiring an additional 1,092 shares in the last quarter. Finally, Bernard Wealth Management Corp. acquired a new position in Core Scientific in the second quarter worth $51,000.

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.