Core Scientific, Inc. (NASDAQ:CORZ) Given Average Recommendation of “Buy” by Brokerages

Core Scientific, Inc. (NASDAQ:CORZ) has been given an average rating of “Buy” by the fourteen analysts that are covering the stock, Marketbeat Ratings reports. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $18.38.

CORZ has been the subject of a number of research analyst reports. Needham & Company LLC upped their price target on shares of Core Scientific from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. HC Wainwright increased their target price on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Roth Mkm began coverage on shares of Core Scientific in a research report on Friday, November 15th. They issued a “buy” rating and a $25.50 price target on the stock. Compass Point increased their price objective on Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Macquarie lifted their target price on Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th.

Insiders Place Their Bets

In other Core Scientific news, Director Yadin Rozov sold 105,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total value of $1,901,550.00. Following the completion of the sale, the director now owns 345,239 shares in the company, valued at $6,252,278.29. This represents a 23.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Todd M. Duchene sold 25,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total transaction of $427,500.00. Following the transaction, the insider now owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. This represents a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

A number of institutional investors have recently bought and sold shares of the company. P Schoenfeld Asset Management LP purchased a new stake in shares of Core Scientific during the 2nd quarter worth about $4,185,000. Highland Peak Capital LLC raised its position in Core Scientific by 37.9% during the third quarter. Highland Peak Capital LLC now owns 413,584 shares of the company’s stock valued at $4,905,000 after acquiring an additional 113,584 shares in the last quarter. Mirabella Financial Services LLP acquired a new stake in Core Scientific in the third quarter valued at approximately $18,383,000. Van ECK Associates Corp increased its stake in shares of Core Scientific by 22.9% during the 3rd quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock worth $19,177,000 after purchasing an additional 300,942 shares during the last quarter. Finally, DeepCurrents Investment Group LLC raised its holdings in shares of Core Scientific by 157.7% during the 2nd quarter. DeepCurrents Investment Group LLC now owns 255,162 shares of the company’s stock valued at $2,373,000 after purchasing an additional 156,162 shares in the last quarter.

Core Scientific Stock Up 0.1 %

Shares of Core Scientific stock opened at $15.55 on Friday. The business has a fifty day simple moving average of $15.01 and a 200-day simple moving average of $11.59. Core Scientific has a fifty-two week low of $2.61 and a fifty-two week high of $18.63. The firm has a market cap of $4.34 billion and a price-to-earnings ratio of -2.87.

About Core Scientific

Core Scientific, Inc provides digital asset mining services in North America. It operates through two segments, Mining and Hosting. The company offers blockchain infrastructure, software solutions, and services; and operates data center mining facilities. It also mines digital assets for its own account; and provides hosting services for other large bitcoin miners, which include deployment, monitoring, trouble shooting, optimization, and maintenance of its customers' digital asset mining equipment.