Core Scientific, Inc. (NASDAQ:CORZ) Given Consensus Rating of “Buy” by Analysts

Shares of Core Scientific, Inc. (NASDAQ:CORZ) have earned a consensus recommendation of “Buy” from the fourteen research firms that are presently covering the firm, Marketbeat.com reports. Thirteen investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $18.38.

CORZ has been the subject of a number of analyst reports. Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Thursday, November 7th. Needham & Company LLC upped their target price on Core Scientific from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. HC Wainwright upped their price target on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Macquarie increased their price objective on shares of Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th.

Core Scientific Trading Up 0.1 %

Shares of CORZ stock opened at $15.55 on Friday. The firm has a fifty day simple moving average of $15.01 and a 200-day simple moving average of $11.59. The company has a market capitalization of $4.34 billion and a PE ratio of -2.87. Core Scientific has a twelve month low of $2.61 and a twelve month high of $18.63.

Insider Activity

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

Hedge Funds Weigh In On Core Scientific

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise bought a new stake in Core Scientific during the 2nd quarter valued at $28,000. Sunbelt Securities Inc. bought a new stake in shares of Core Scientific during the second quarter valued at about $33,000. Rise Advisors LLC lifted its holdings in Core Scientific by 14.3% in the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock worth $95,000 after purchasing an additional 1,000 shares during the period. Divisadero Street Capital Management LP acquired a new position in Core Scientific during the 2nd quarter valued at about $93,000. Finally, Arkadios Wealth Advisors bought a new stake in shares of Core Scientific during the 3rd quarter worth about $119,000.

Core Scientific Company Profile

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.