Core Scientific, Inc. (NASDAQ:CORZ – Get Rating) shares fell 8% during mid-day trading on Monday . The stock traded as low as 1.73 and last traded at 1.73. 7,633 shares were traded during trading, a decline of 100% from the average session volume of 3,174,059 shares. The stock had previously closed at 1.88.
Several research firms have issued reports on CORZ. Cowen began coverage on shares of Core Scientific in a research note on Friday, June 24th. They set an “outperform” rating and a $3.10 price objective for the company. B. Riley decreased their price objective on shares of Core Scientific from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, June 23rd. Chardan Capital started coverage on shares of Core Scientific in a research report on Friday, June 3rd. They set a “buy” rating and a $8.00 target price on the stock. Cowen started coverage on shares of Core Scientific in a research report on Friday, June 24th. They set an “outperform” rating and a $3.10 target price on the stock. Finally, LADENBURG THALM/SH SH reduced their target price on shares of Core Scientific from $18.75 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, May 31st. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Core Scientific currently has an average rating of “Buy” and a consensus target price of 7.37.
The company has a 50-day simple moving average of 2.88. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.98.
Core Scientific (NASDAQ:CORZ – Get Rating) last posted its quarterly earnings results on Thursday, May 12th. The company reported 0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of 0.13 by 0.18. The company had revenue of 192.52 million during the quarter, compared to analyst estimates of 164.20 million. Research analysts anticipate that Core Scientific, Inc. will post 0.72 EPS for the current fiscal year.
In related news, insider Darin Feinstein sold 1,124,147 shares of the company’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of 3.65, for a total value of 4,103,136.55. Following the sale, the insider now directly owns 34,909,445 shares of the company’s stock, valued at 127,419,474.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 2,074,147 shares of company stock worth $7,303,137 over the last ninety days. 32.00% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CORZ. Ovata Capital Management Ltd acquired a new stake in Core Scientific in the first quarter valued at $25,000. Sterling Investment Advisors Ltd. acquired a new stake in Core Scientific in the first quarter valued at $33,000. New York State Common Retirement Fund acquired a new stake in Core Scientific in the first quarter valued at $40,000. Quantbot Technologies LP acquired a new stake in shares of Core Scientific during the first quarter worth $56,000. Finally, Lee Financial Co acquired a new stake in shares of Core Scientific during the first quarter worth $71,000.
About Core Scientific (NASDAQ:CORZ)
Core Scientific, Inc provides net carbon-neutral blockchain infrastructure and digital asset mining solutions in North America. It operates in two segments, Equipment Sales and Hosting. It offers blockchain hosting services with deployment and provide power, racks, proprietary thermodynamic management, redundant connectivity, and 24/7 security, as well as its proprietary software platforms, such as Minder and MinderOS, which provides infrastructure management and custom firmware; and digital asset mining operation focuses on the generation of digital assets by solving complex cryptographic algorithms to validate transactions on specific digital asset network blockchains.
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