Roth Mkm Begins Coverage on Core Scientific (NASDAQ:CORZ)

Research analysts at Roth Mkm started coverage on shares of Core Scientific (NASDAQ:CORZ) in a report issued on Friday,Benzinga reports. The firm set a “buy” rating and a $25.50 price target on the stock. Roth Mkm’s target price would suggest a potential upside of 65.16% from the stock’s previous close.

Several other brokerages also recently issued reports on CORZ. Sanford C. Bernstein reissued an “outperform” rating and set a $17.00 price objective on shares of Core Scientific in a research report on Tuesday, September 10th. B. Riley increased their price target on shares of Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Compass Point raised their price target on Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Jefferies Financial Group initiated coverage on shares of Core Scientific in a research report on Monday, October 28th. They set a “buy” rating and a $19.00 price objective for the company. Finally, 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 research note on Thursday, November 7th. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Core Scientific currently has a consensus rating of “Buy” and a consensus price target of $18.08.

Core Scientific Stock Down 4.3 %

CORZ stock opened at $15.44 on Friday. Core Scientific has a twelve month low of $2.61 and a twelve month high of $18.03. The business’s fifty day moving average is $12.76 and its 200-day moving average is $9.72. The company has a market cap of $4.31 billion and a P/E ratio of -2.85.

Insider Buying and Selling

In other news, Director Jarrod M. Patten bought 5,021 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average cost of $9.68 per share, with a total value of $48,603.28. Following the completion of the transaction, the director now directly owns 285,760 shares of the company’s stock, valued at $2,766,156.80. This represents a 1.79 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders purchased 12,761 shares of company stock worth $127,080. 32.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CORZ. Banque Cantonale Vaudoise bought a new position in Core Scientific in the second quarter valued at $28,000. Aspect Partners LLC bought a new stake in Core Scientific during the 1st quarter valued at approximately $29,000. Sunbelt Securities Inc. purchased a new stake in Core Scientific in the second quarter worth $33,000. Rise Advisors LLC purchased a new stake in shares of Core Scientific in the 2nd quarter worth about $65,000. Finally, Divisadero Street Capital Management LP bought a new position in shares of Core Scientific during the second quarter valued at approximately $93,000.

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.