Core Scientific, Inc. (NASDAQ:CORZ) Receives $24.84 Consensus PT from Analysts

Shares of Core Scientific, Inc. (NASDAQ:CORZ) have earned an average rating of “Moderate Buy” from the twenty-one analysts that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, fifteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $24.8382.

Several brokerages recently commented on CORZ. Zacks Research raised shares of Core Scientific from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 13th. Citigroup raised shares of Core Scientific from a “market perform” rating to an “outperform” rating in a report on Thursday, December 18th. Wall Street Zen upgraded shares of Core Scientific to a “sell” rating in a research report on Saturday. Cantor Fitzgerald cut their target price on shares of Core Scientific from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd. Finally, BTIG Research upgraded shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Tuesday, January 6th.

Hedge Funds Weigh In On Core Scientific

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in shares of Core Scientific by 106.1% in the first quarter. AQR Capital Management LLC now owns 283,432 shares of the company’s stock valued at $2,052,000 after acquiring an additional 145,905 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Core Scientific by 180.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,109,387 shares of the company’s stock worth $8,032,000 after purchasing an additional 714,388 shares in the last quarter. Amalgamated Bank raised its stake in 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 purchased a new position in Core Scientific in the 2nd quarter valued at $238,000. Finally, Prospera Financial Services Inc purchased a new position in Core Scientific in the 2nd quarter valued at $252,000.

Core Scientific Trading Up 1.5%

Shares of CORZ opened at $16.49 on Monday. Core Scientific has a 12 month low of $6.20 and a 12 month high of $23.63. The stock’s 50 day moving average is $17.38 and its two-hundred day moving average is $17.02. The firm has a market cap of $5.20 billion, a P/E ratio of 14.09 and a beta of 6.87.

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

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.