Core Scientific (NASDAQ:CORZ) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Core Scientific (NASDAQ:CORZ) from a market perform rating to an outperform rating in a research note published on Thursday, MarketBeat reports. They currently have $28.00 price target on the stock, up from their prior price target of $25.00.

Several other equities analysts have also commented on CORZ. Needham & Company LLC increased their price objective on Core Scientific from $29.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Core Scientific in a research report on Friday, July 17th. Loop Capital set a $40.00 target price on Core Scientific in a research report on Friday, June 12th. Wolfe Research reaffirmed a “buy” rating on shares of Core Scientific in a research note on Wednesday. Finally, Freedom Capital upgraded shares of Core Scientific to a “hold” rating in a research report on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.68.

Core Scientific Stock Performance

Shares of NASDAQ:CORZ opened at $20.72 on Thursday. The firm has a market capitalization of $6.66 billion, a PE ratio of -4.69 and a beta of 5.50. Core Scientific has a 52-week low of $12.60 and a 52-week high of $30.46. The firm has a fifty day moving average of $25.07 and a 200 day moving average of $20.81.

Core Scientific (NASDAQ:CORZ) last released its quarterly earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($3.26). The business had revenue of $164.20 million during the quarter, compared to analyst estimates of $144.83 million. On average, sell-side analysts forecast that Core Scientific will post -1.36 EPS for the current fiscal year.

Insider Transactions at Core Scientific

In other news, insider Todd M. Duchene sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $20.95, for a total transaction of $209,500.00. Following the transaction, the insider directly owned 1,989,101 shares of the company’s stock, valued at approximately $41,671,665.95. This trade represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 90,000 shares of company stock worth $2,234,900 in the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Core Scientific

Several institutional investors have recently bought and sold shares of CORZ. Xponance LLC grew its position in Core Scientific by 2.5% during the 4th quarter. Xponance LLC now owns 22,896 shares of the company’s stock worth $333,000 after acquiring an additional 562 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Core Scientific by 0.7% in the second quarter. Handelsbanken Fonder AB now owns 94,500 shares of the company’s stock valued at $2,418,000 after purchasing an additional 700 shares during the last quarter. Orion Porfolio Solutions LLC boosted its stake in shares of Core Scientific by 5.2% during the third quarter. Orion Porfolio Solutions LLC now owns 15,539 shares of the company’s stock valued at $279,000 after purchasing an additional 766 shares during the period. GAMMA Investing LLC boosted its stake in shares of Core Scientific by 34.5% during the second quarter. GAMMA Investing LLC now owns 3,049 shares of the company’s stock valued at $78,000 after purchasing an additional 782 shares during the period. Finally, Bank of Montreal Can grew its holdings in shares of Core Scientific by 4.2% in the fourth quarter. Bank of Montreal Can now owns 21,592 shares of the company’s stock worth $314,000 after purchasing an additional 869 shares during the last quarter.

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.