Core Scientific (NASDAQ:CORZ) Shares Up 1.4%

Core Scientific, Inc. (NASDAQ:CORZ) rose 1.4% during trading on Tuesday . The company traded as high as $11.29 and last traded at $11.20. Approximately 2,155,503 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 7,343,557 shares. The stock had previously closed at $11.05.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CORZ shares. HC Wainwright increased their price objective on shares of Core Scientific from $11.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. B. Riley upgraded shares of Core Scientific from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $0.50 to $13.00 in a research note on Wednesday, July 17th. LADENBURG THALM/SH SH reissued a “buy” rating and set a $14.50 price objective on shares of Core Scientific in a report on Tuesday, July 2nd. Sanford C. Bernstein started coverage on Core Scientific in a report on Wednesday, July 10th. They issued an “outperform” rating and a $17.00 target price on the stock. Finally, Cantor Fitzgerald initiated coverage on Core Scientific in a research note on Wednesday, July 17th. They set an “overweight” rating and a $20.00 price target for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $14.71.

Core Scientific Stock Performance

The company has a 50 day simple moving average of $8.27 and a two-hundred day simple moving average of $4.94.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. The company had revenue of $179.29 million during the quarter, compared to the consensus estimate of $139.60 million. On average, equities analysts predict that Core Scientific, Inc. will post 0.51 EPS for the current fiscal year.

Insider Buying and Selling

In other Core Scientific news, insider Todd M. Duchene sold 7,321 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $9.39, for a total transaction of $68,744.19. Following the completion of the transaction, the insider now owns 359,877 shares in the company, valued at $3,379,245.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Todd M. Duchene sold 3,770 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $9.99, for a total value of $37,662.30. Following the transaction, the insider now owns 393,428 shares of the company’s stock, valued at approximately $3,930,345.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Todd M. Duchene sold 7,321 shares of Core Scientific stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $9.39, for a total transaction of $68,744.19. Following the sale, the insider now owns 359,877 shares of the company’s stock, valued at approximately $3,379,245.03. The disclosure for this sale can be found here. 32.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Core Scientific

Several institutional investors and hedge funds have recently modified their holdings of CORZ. Fiduciary Alliance LLC purchased a new stake in shares of Core Scientific in the 1st quarter worth $84,000. Hexagon Capital Partners LLC bought a new position in Core Scientific during the 1st quarter worth about $34,000. Lindbrook Capital LLC purchased a new position in Core Scientific during the 1st quarter valued at about $65,000. Perigon Wealth Management LLC bought a new stake in shares of Core Scientific in the 1st quarter valued at about $688,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Core Scientific in the 1st quarter worth approximately $307,000.

Core Scientific Company Profile

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.