Core Scientific, Inc. (NASDAQ:CORZ) Receives $24.84 Average Target Price from Analysts

Core Scientific, Inc. (NASDAQ:CORZ) has been assigned an average rating of “Moderate Buy” from the twenty-one analysts that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $24.8382.

A number of equities analysts have recently commented on the stock. LADENBURG THALM/SH SH cut their price target on shares of Core Scientific from $24.50 to $23.75 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Core Scientific in a research report on Wednesday, January 21st. Canaccord Genuity Group lifted their target price on Core Scientific from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. BTIG Research upgraded Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday, January 6th. Finally, Cantor Fitzgerald decreased their price target on Core Scientific from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd.

Institutional Trading of Core Scientific

Several institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its holdings in Core Scientific by 106.1% during the 1st quarter. AQR Capital Management LLC now owns 283,432 shares of the company’s stock worth $2,052,000 after purchasing an additional 145,905 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Core Scientific by 180.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,387 shares of the company’s stock valued at $8,032,000 after purchasing an additional 714,388 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Core Scientific by 52.2% in the 2nd quarter. Amalgamated Bank now owns 9,423 shares of the company’s stock valued at $161,000 after purchasing an additional 3,231 shares during the last quarter. Savant Capital LLC acquired a new stake in shares of Core Scientific during the second quarter worth $238,000. Finally, Prospera Financial Services Inc acquired a new stake in shares of Core Scientific during the second quarter worth $252,000.

Core Scientific Price Performance

Shares of NASDAQ CORZ opened at $16.54 on Monday. The company has a 50 day simple moving average of $17.33 and a 200 day simple moving average of $17.01. Core Scientific has a 1 year low of $6.20 and a 1 year high of $23.63. The firm has a market cap of $5.22 billion, a PE ratio of 14.14 and a beta of 6.87.

Core Scientific (NASDAQ:CORZ) last posted its earnings results on Monday, March 2nd. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $79.76 million for the quarter, compared to the consensus estimate of $118.45 million. The company’s revenue was down 16.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.69) earnings per share. As a group, research analysts anticipate that Core Scientific will post 0.52 earnings per share for the current fiscal year.

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.