Core Scientific (NASDAQ:CORZ) Given New $11.00 Price Target at HC Wainwright

Core Scientific (NASDAQ:CORZ) had its price target upped by analysts at HC Wainwright from $5.00 to $11.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 10.55% from the company’s previous close. HC Wainwright also issued estimates for Core Scientific’s FY2025 earnings at $0.15 EPS.

Separately, BTIG Research lifted their target price on shares of Core Scientific from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th.

Core Scientific Stock Up 7.3 %

Shares of Core Scientific stock opened at $9.95 on Tuesday. The firm’s 50 day moving average is $5.51 and its 200 day moving average is $3.66. Core Scientific has a 1 year low of $2.61 and a 1 year high of $10.70.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.14. The company had revenue of $179.29 million for the quarter, compared to the consensus estimate of $139.60 million. As a group, analysts predict that Core Scientific will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Todd M. Duchene sold 3,770 shares of Core Scientific stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $9.99, for a total transaction of $37,662.30. Following the sale, the insider now directly owns 393,428 shares in the company, valued at approximately $3,930,345.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 32.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Core Scientific

Several hedge funds have recently added to or reduced their stakes in the business. Aspect Partners LLC acquired a new position in shares of Core Scientific in the 1st quarter worth approximately $29,000. Kensico Capital Management Corp acquired a new position in shares of Core Scientific in the 1st quarter worth approximately $18,513,000. Anson Funds Management LP acquired a new position in shares of Core Scientific in the 1st quarter worth approximately $1,000,000. Vident Advisory LLC acquired a new position in shares of Core Scientific in the 1st quarter worth approximately $4,047,000. Finally, Vanguard Group Inc. acquired a new position in shares of Core Scientific in the 1st quarter worth approximately $21,973,000.

About Core Scientific

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.