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

Shares of Core Scientific, Inc. (NASDAQ:CORZ) have been assigned a consensus recommendation of “Buy” from the fourteen research firms that are presently covering the company, MarketBeat reports. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $18.46.

Several equities research analysts have commented on the stock. B. Riley boosted their price target on shares of Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Roth Mkm started coverage on Core Scientific in a report on Friday, November 15th. They set a “buy” rating and a $25.50 target price on the stock. HC Wainwright raised their price target on Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. BTIG Research boosted their price target on Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $17.00 price objective on shares of Core Scientific in a report on Tuesday, September 10th.

Core Scientific Stock Down 2.4 %

Shares of CORZ stock opened at $14.13 on Friday. Core Scientific has a 12 month low of $2.61 and a 12 month high of $18.63. The company’s fifty day simple moving average is $15.36 and its 200-day simple moving average is $12.01. The firm has a market cap of $3.95 billion and a PE ratio of -2.61.

Insider Activity

In other news, Director Yadin Rozov sold 105,000 shares of the business’s stock in a transaction dated 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 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 this link. Also, insider Todd M. Duchene sold 25,000 shares of the firm’s 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 transaction, the insider now directly 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. 32.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Core Scientific

Several institutional investors have recently made changes to their positions in CORZ. P Schoenfeld Asset Management LP acquired a new position in Core Scientific in the 2nd quarter valued at $4,185,000. Highland Peak Capital LLC increased its position in shares of Core Scientific by 37.9% in the third quarter. Highland Peak Capital LLC now owns 413,584 shares of the company’s stock worth $4,905,000 after purchasing an additional 113,584 shares during the period. Mirabella Financial Services LLP acquired a new position in Core Scientific in the third quarter valued at about $18,383,000. Van ECK Associates Corp lifted its position in Core Scientific by 22.9% during the third 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 period. Finally, DeepCurrents Investment Group LLC grew its stake in Core Scientific by 157.7% during the second quarter. DeepCurrents Investment Group LLC now owns 255,162 shares of the company’s stock worth $2,373,000 after buying an additional 156,162 shares in the last quarter.

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.