Core Scientific (NASDAQ:CORZ) Price Target Raised to $25.00

Core Scientific (NASDAQ:CORZ) had its price objective lifted by equities research analysts at Keefe, Bruyette & Woods from $19.00 to $25.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 31.23% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. UBS Group set a $30.00 price target on Core Scientific in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Core Scientific in a research note on Wednesday, January 21st. Zacks Research upgraded Core Scientific from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 13th. BTIG Research raised shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, January 6th. Finally, Macquarie raised shares of Core Scientific from a “hold” rating to an “outperform” rating and raised their price target for the stock from $18.00 to $34.00 in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.69.

Core Scientific Trading Up 1.4%

Shares of NASDAQ:CORZ opened at $19.05 on Tuesday. Core Scientific has a 12 month low of $6.20 and a 12 month high of $23.63. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of 127.01 and a beta of 6.87. The firm’s 50-day moving average is $16.45 and its 200 day moving average is $16.26.

Core Scientific (NASDAQ:CORZ) last announced its quarterly earnings data 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 firm had revenue of $81.10 million during the quarter, compared to the consensus estimate of $107.18 million. As a group, equities analysts forecast that Core Scientific will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

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 stock was bought at an average cost of $21.50 per share, with a total value of $107,500.00. Following the completion of the purchase, the director directly owned 226,687 shares in the company, valued at $4,873,770.50. The trade was a 2.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Core Scientific

Hedge funds have recently modified their holdings of the business. Jericho Capital Asset Management L.P. purchased a new position in Core Scientific during the third quarter valued at approximately $209,895,000. Oaktree Capital Management LP purchased a new stake in Core Scientific during the third quarter worth $114,829,000. Situational Awareness LP boosted its position in Core Scientific by 76.8% during the 2nd quarter. Situational Awareness LP now owns 7,994,038 shares of the company’s stock valued at $136,458,000 after acquiring an additional 3,472,460 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Core Scientific by 416.0% in the 2nd quarter. Marshall Wace LLP now owns 3,098,737 shares of the company’s stock valued at $52,895,000 after acquiring an additional 2,498,186 shares during the period. Finally, 59 North Capital Management LP purchased a new position in shares of Core Scientific in the 2nd quarter valued at $35,990,000.

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.