10 Best Stocks Under $15 To Buy Now

4. Core Scientific, Inc. (NASDAQ:CORZ)

Number of Hedge Fund Holders: 53

Share Price as of the close of September 27: $12.16

Core Scientific, Inc. (NASDAQ:CORZ) is one of the largest digital asset mining services companies in North America, with expertise in data center design and management, blockchain infrastructure, software solutions, and other related services. It is one of the best stocks under $15 to buy now, with 53 hedge funds having a stake in the company, according to Insider Monkey’s database for Q2 2024.

During Q2 2024, the company reported a revenue of $141 million, of which $111 million was generated from digital asset self-mining, while digital asset-hosted mining accounted for $25 million of the share. The company also generated $5.5 million from HPC hosting. While the revenue increased by 11.18% year-over-year, Core Scientific, Inc. (NASDAQ:CORZ) reported a net loss of $805 million, driven by the company having to make adjustments to the value of its equity due to the significant quarter-to-quarter appreciation in share price.

Core Scientific, Inc. (NASDAQ:CORZ) went through bankruptcy toward the end of 2022 and is now emerging with a revamp, as its focus shifts significantly from only being a prominent Bitcoin miner to a broader set of offerings, encompassing AI and HPC infrastructure. As part of these efforts, the company announced that it had entered into an expanded partnership with cloud provider, CoreWeave. Under the contract, Core Scientific, Inc. (NASDAQ:CORZ) will provide CoreWeave with 382 megawatts of computing infrastructure with a potential revenue of $6.7 billion over the coming 12 years.

The strategic deal with CoreWeave will likely significantly contribute to the company’s growth and valuation. Its share price has increased 25% since the announcement of the agreement in August. Street analysts have consensus on the stock’s Strong Buy rating and forecast a further 23% upside in its share price. The success of this ongoing transition to AI and HPC infrastructure, however, is heavily dependent on the timely execution of these projects. Any delays might result in lost opportunities and allow competitors to gain market share in this space.