Core Scientific (NASDAQ:CORZ) Earns Neutral Rating from Analysts at Rothschild & Co Redburn

Rothschild & Co Redburn assumed coverage on shares of Core Scientific (NASDAQ:CORZ) in a report released on Monday, Marketbeat Ratings reports. The firm issued a neutral rating and a $16.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. Lucid Cap Mkts upgraded shares of Core Scientific to a “strong-buy” rating in a research note on Friday, June 12th. Compass Point reiterated a “buy” rating and issued a $36.00 price target on shares of Core Scientific in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods upgraded shares of Core Scientific from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $25.00 to $28.00 in a research note on Thursday, July 30th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $32.00 price target on shares of Core Scientific in a report on Wednesday, June 3rd. Finally, Wells Fargo & Company began coverage on shares of Core Scientific in a research report on Thursday, September 17th. They set an “overweight” rating and a $28.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.86.

Core Scientific Price Performance

NASDAQ CORZ opened at $18.10 on Monday. The stock’s 50-day moving average is $19.33 and its two-hundred day moving average is $21.07. Core Scientific has a fifty-two week low of $13.35 and a fifty-two week high of $30.46. The firm has a market cap of $5.82 billion, a P/E ratio of -4.10 and a beta of 5.48.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Tuesday, July 28th. The company reported ($3.32) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($3.26). The company had revenue of $164.20 million during the quarter, compared to analysts’ expectations of $144.83 million. On average, equities analysts expect that Core Scientific will post -1.36 EPS for the current year.

Insider Activity

In other news, insider Todd DuChene sold 10,000 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $19.97, for a total value of $199,700.00. Following the completion of the sale, the insider directly owned 1,969,101 shares of the company’s stock, valued at $39,322,946.97. This represents a 0.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eric Weiss bought 7,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was purchased at an average cost of $19.19 per share, with a total value of $134,330.00. Following the purchase, the director directly owned 259,262 shares of the company’s stock, valued at approximately $4,975,237.78. This represents a 2.77% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 19,000 shares of company stock valued at $342,290 and have sold 90,000 shares valued at $1,887,400. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Core Scientific

Several institutional investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust boosted its position in shares of Core Scientific by 1,371.3% during the second quarter. Parkside Financial Bank & Trust now owns 1,177 shares of the company’s stock worth $30,000 after buying an additional 1,097 shares during the period. CoreCap Advisors LLC acquired a new stake in shares of Core Scientific in the 2nd quarter valued at approximately $36,000. Rakuten Securities Inc. acquired a new stake in shares of Core Scientific in the 2nd quarter valued at approximately $47,000. Larson Financial Group LLC grew its stake in shares of Core Scientific by 936.7% in the fourth quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock valued at $27,000 after buying an additional 1,686 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Core Scientific by 34.5% during the second quarter. GAMMA Investing LLC now owns 3,049 shares of the company’s stock worth $78,000 after buying an additional 782 shares during the last quarter.

Core Scientific Company Profile

Core Scientific, Inc (NASDAQ: CORZ) is a digital infrastructure company that develops and operates data centers for high-performance computing. Its business has historically centered on large-scale bitcoin mining, including the deployment and operation of specialized computing equipment and supporting power, networking and facility infrastructure.

The company also provides hosting and colocation services for digital asset miners and other high-performance computing customers. Core Scientific has increasingly focused on expanding its data center platform for artificial intelligence and other compute-intensive workloads, including infrastructure designed to support graphics processing unit (GPU) deployments.

Founded in 2017, Core Scientific operates data center facilities in the United States and emerged from Chapter 11 bankruptcy protection in January 2024.