Jefferies Financial Group Begins Coverage on Core Scientific (NASDAQ:CORZ)

by · The Markets Daily

Jefferies Financial Group initiated coverage on shares of Core Scientific (NASDAQ:CORZ – Free Report) in a report released on Monday morning, Marketbeat.com reports. The firm issued a buy rating and a $19.00 target price on the stock.

Several other brokerages have also issued reports on CORZ. B. Riley boosted their price objective on Core Scientific from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Needham & Company LLC upped their price target on shares of Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. HC Wainwright raised their price objective on shares of Core Scientific from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $14.50 price objective on shares of Core Scientific in a research report on Tuesday, July 2nd. Finally, Macquarie began coverage on Core Scientific in a report on Wednesday, September 25th. They set an “outperform” rating and a $16.00 target price for the company. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Core Scientific currently has an average rating of “Buy” and an average target price of $16.71.

View Our Latest Analysis on CORZ

Core Scientific Trading Down 3.6 %

CORZ opened at $13.29 on Monday. The firm’s fifty day moving average is $11.80 and its two-hundred day moving average is $8.88. Core Scientific has a twelve month low of $2.61 and a twelve month high of $14.64.

Core Scientific (NASDAQ:CORZ – Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($4.51) EPS for the quarter, missing the consensus estimate of ($0.04) by ($4.47). The company had revenue of $141.10 million during the quarter, compared to analyst estimates of $128.58 million. The business’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities analysts expect that Core Scientific will post 0.01 earnings per share for the current year.

Insider Activity at Core Scientific

In other news, Director Jarrod M. Patten purchased 4,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were purchased at an average cost of $9.70 per share, with a total value of $38,800.00. Following the completion of the transaction, the director now owns 279,239 shares of the company’s stock, valued at $2,708,618.30. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Core Scientific news, Director Jarrod M. Patten purchased 4,000 shares of Core Scientific stock in a transaction that occurred on Wednesday, August 28th. The stock was acquired at an average price of $9.70 per share, for a total transaction of $38,800.00. Following the completion of the acquisition, the director now owns 279,239 shares of the company’s stock, valued at approximately $2,708,618.30. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jarrod M. Patten purchased 5,021 shares of the stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average cost of $9.68 per share, for a total transaction of $48,603.28. Following the transaction, the director now owns 285,760 shares of the company’s stock, valued at approximately $2,766,156.80. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 12,761 shares of company stock valued at $127,080. 32.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Core Scientific

A number of large investors have recently added to or reduced their stakes in the business. Barings LLC acquired a new position in shares of Core Scientific in the first quarter valued at $36,515,000. ORG Wealth Partners LLC bought a new stake in shares of Core Scientific during the 3rd quarter worth about $106,266,000. Vanguard Group Inc. acquired a new position in Core Scientific in the 1st quarter valued at about $21,973,000. Kensico Capital Management Corp bought a new position in Core Scientific in the 1st quarter valued at about $18,513,000. Finally, Van ECK Associates Corp raised its holdings in Core Scientific by 22.9% in the 3rd quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock valued at $19,177,000 after acquiring an additional 300,942 shares during the period.

About Core Scientific

(Get Free Report)

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.

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