Core Scientific (NASDAQ:CORZ) Stock Rating Upgraded by Freedom Capital

Core Scientific (NASDAQ:CORZ) was upgraded by investment analysts at Freedom Capital from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research analysts have also recently commented on CORZ. Canaccord Genuity Group raised their target price on shares of Core Scientific from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday. B. Riley Financial boosted their price target on Core Scientific from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Loop Capital set a $40.00 price target on Core Scientific in a research report on Friday, June 12th. Lucid Cap Mkts upgraded Core Scientific to a “strong-buy” rating in a research note on Friday, June 12th. Finally, Capital One Financial set a $33.00 price objective on Core Scientific in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.68.

Core Scientific Stock Performance

CORZ stock opened at $20.72 on Thursday. Core Scientific has a 52 week low of $12.60 and a 52 week high of $30.46. The company has a market capitalization of $6.66 billion, a PE ratio of -4.69 and a beta of 5.50. The company’s 50-day simple moving average is $25.07 and its 200 day simple moving average is $20.81.

Core Scientific (NASDAQ:CORZ) last issued its quarterly earnings data 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 business had revenue of $164.20 million for the quarter, compared to analyst estimates of $144.83 million. On average, analysts forecast that Core Scientific will post -1.3 EPS for the current year.

Insider Buying and Selling

In other news, insider Todd M. Duchene sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $20.95, for a total value of $209,500.00. Following the completion of the transaction, the insider directly owned 1,989,101 shares in the company, valued at approximately $41,671,665.95. The trade was a 0.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 90,000 shares of company stock valued at $2,234,900. 1.70% of the stock is owned by company insiders.

Institutional Trading of Core Scientific

Several large investors have recently made changes to their positions in the company. Xponance LLC raised its position in Core Scientific by 2.5% during the fourth quarter. Xponance LLC now owns 22,896 shares of the company’s stock valued at $333,000 after purchasing an additional 562 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Core Scientific by 0.7% during the second quarter. Handelsbanken Fonder AB now owns 94,500 shares of the company’s stock worth $2,418,000 after purchasing an additional 700 shares during the last quarter. Orion Porfolio Solutions LLC boosted its holdings in shares of Core Scientific by 5.2% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 15,539 shares of the company’s stock valued at $279,000 after purchasing an additional 766 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Core Scientific by 34.5% in the 2nd quarter. GAMMA Investing LLC now owns 3,049 shares of the company’s stock valued at $78,000 after purchasing an additional 782 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Core Scientific by 4.2% in the 4th quarter. Bank of Montreal Can now owns 21,592 shares of the company’s stock valued at $314,000 after purchasing an additional 869 shares during the last quarter.

About Core Scientific

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.