The stock garnered multiple analyst downgrades this week owing to the miner’s financial concerns. Most recent was Barclays, who cut the stock to equalweight from overweight, and its price target by 92% to $0.25 from $3. “We are moving to the sidelines as we await further clarification on strategic alternatives and potential capital structure changes,” Barclays analyst Ramsey El-Assal wrote in a research note to clients. Another Wall Street investment bank BTIG lowered the stock’s rating to neutral from buy on Thursday, echoing similar sentiment.
Troubled Bitcoin Miner Core Scientific’s Shares Continue to Plunge on Bankruptcy Risk
