Stocks of Core Scientific Inc. (NASDAQ:CORZ) traded higher last session on Wall Street, up 9.91% to $0.15.
According to the data, Core Scientific Inc. (NASDAQ:CORZ) has 6 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $5.00 and a low of $0.22, we find $0.25. Given the previous closing price of $0.13, this indicates a potential upside of 92.31 percent. CORZ stock price is now -83.78% away from the 50-day moving average and -96.13% away from the 200-day moving average. The market capitalization of the company currently stands at $55.46M.
A total of 6 analysts have issued a hold rating and 0 have given it a buy rating. Brokers who have rated the stock have averaged $1.24 as their price target over the next twelve months.
On October 04, 2022, Barclays recently initiated its ‘Overweight’ rating on the stock quoting a target price of $3, while ‘Compass Point’ rates the stock as ‘Buy’.
In other news, Feinstein Darin, Chief Vision Officer sold 2,909,679 shares of the company’s stock on Jun 03. The stock was sold for $7,797,940 at an average price of $2.68. Upon completion of the transaction, the Chief Vision Officer now directly owns 30,483,592 shares in the company, valued at $4.57 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 02, Chief Vision Officer Feinstein Darin sold 500,000 shares of the business’s stock. A total of $1,535,000 was realized by selling the stock at an average price of $3.07. This leaves the insider owning 33,393,271 shares of the company worth $5.01 million. Insiders disposed of 7,996,741 shares of company stock worth roughly $1.2 million over the past 1 year. A total of 16.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CORZ stock. A new stake in Core Scientific Inc. shares was purchased by SUMMIT TRAIL ADVISORS, LLC during the first quarter worth $128,000. BEACON POINTE ADVISORS, LLC invested $74,000 in shares of CORZ during the first quarter. In the first quarter, RENAISSANCE TECHNOLOGIES LLC acquired a new stake in Core Scientific Inc. valued at approximately $45,000. MILLENNIUM MANAGEMENT LLC acquired a new stake in CORZ for approximately $17,000. SUSQUEHANNA INTERNATIONAL GROUP, LLP purchased a new stake in CORZ valued at around $15,000 in the second quarter. In total, there are 179 active investors with 26.30% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $0.1501 for Core Scientific Inc. (NASDAQ: CORZ). During the past 12 months, Core Scientific Inc. has had a low of $0.12 and a high of $13.70. As of last week, the company has a debt-to-equity ratio of 2.75, a current ratio of 1.00, and a quick ratio of 1.00. The fifty day moving average price for CORZ is $0.8708 and a two-hundred day moving average price translates $3.7599 for the stock.
The latest earnings results from Core Scientific Inc. (NASDAQ: CORZ) was released for Jun, 2022. According to the Software – Infrastructure Company, earnings per share came in at -$2.65, missing analysts’ expectations of $0.03 by -2.68. This compares to -$0.07 EPS in the same period last year. The company reported revenue of $162.57 million for the quarter, compared to $113.14 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 43.69 percent. For the current quarter, analysts expect CORZ to generate $147.68M in revenue.
Core Scientific Inc.(CORZ) Company Profile
Core Scientific, Inc. operates facilities for digital asset mining and colocation services in North America. It provides blockchain infrastructure, software solutions, and services. The company mines digital assets for its own account and provides hosting colocation services for other large-scale miners. It operates in two segments, Equipment Sales and Hosting. The company owns and operates computer equipment that is used to process transactions conducted on one or more blockchain networks in exchange for transaction processing fees rewarded in digital currency assets, commonly referred to as mining; and datacenter facilities to provide colocation and hosting services for distributed ledger technology, also commonly known as blockchain. It also develops blockchain-based platforms and applications, including infrastructure management, security technologies, mining optimization, and recordkeeping. The company is headquartered in Austin, Texas.