Movement Alert|Core Scientific, Inc. Rises 11.42% in Regular Trading, Upgraded Back to Outperform by KBW

Market Focus07-30

On July 30, Core Scientific, Inc. rose 11.42% in regular trading, trading at $22.425/share, with turnover of $177 million.

On the news front, Keefe, Bruyette & Woods upgraded Core Scientific from Market Perform back to Outperform, raising its price target from $25 to $28, directly boosting bullish sentiment. The upgrade came just three trading days after the same firm had downgraded the stock on July 27, citing short-term fundamental concerns following the company's Q2 earnings release.

Core Scientific reported Q2 earnings per share loss of $3.32, significantly wider than the analyst consensus estimate of a $0.06 loss, though revenue of $164.2 million exceeded expectations of approximately $143-145 million. The company simultaneously announced a partnership with AMD for up to 2.5 gigawatts of data center capacity, with initial deployment of over 500 megawatts beginning in 2027. Under the deal, AMD will receive market-priced warrants to purchase Core Scientific shares. FactSet data shows the stock carries an average analyst rating of Buy with a mean price target of $36.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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