Core Scientific (NASDAQ:CORZ) Price Target Cut to $20.00 by Analysts at Compass Point

Core Scientific (NASDAQ:CORZ) had its target price lowered by Compass Point from $26.00 to $20.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also commented on CORZ. Roth Capital upgraded shares of Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Macquarie boosted their target price on Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a report on Thursday, November 7th. Craig Hallum started coverage on Core Scientific in a research report on Tuesday, January 21st. They set a “buy” rating and a $24.00 price target for the company. Finally, BTIG Research upped their price objective on shares of Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Core Scientific has a consensus rating of “Buy” and a consensus price target of $19.07.

Core Scientific Trading Down 1.0 %

Shares of NASDAQ:CORZ opened at $9.76 on Tuesday. The company has a 50 day moving average of $13.55 and a 200 day moving average of $13.30. The stock has a market cap of $2.73 billion and a P/E ratio of -1.80. Core Scientific has a 12 month low of $2.61 and a 12 month high of $18.63.

Insider Activity

In other Core Scientific news, insider Todd M. Duchene sold 25,277 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $16.24, for a total value of $410,498.48. Following the completion of the sale, the insider now directly owns 2,023,423 shares of the company’s stock, valued at $32,860,389.52. The trade was a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Adam Taylor Sullivan sold 369,712 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $16.24, for a total transaction of $6,004,122.88. Following the sale, the chief executive officer now owns 3,758,793 shares of the company’s stock, valued at approximately $61,042,798.32. The trade was a 8.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 614,032 shares of company stock valued at $9,534,916. Corporate insiders own 32.00% of the company’s stock.

Hedge Funds Weigh In On Core Scientific

Large investors have recently bought and sold shares of the stock. Neo Ivy Capital Management grew its holdings in shares of Core Scientific by 731.2% in the fourth quarter. Neo Ivy Capital Management now owns 135,642 shares of the company’s stock worth $1,905,000 after purchasing an additional 119,324 shares during the last quarter. Two Seas Capital LP boosted its position in Core Scientific by 9.2% during the 4th quarter. Two Seas Capital LP now owns 6,232,888 shares of the company’s stock valued at $87,572,000 after buying an additional 527,097 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Core Scientific by 76.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 394,999 shares of the company’s stock worth $5,550,000 after acquiring an additional 171,461 shares during the last quarter. Voloridge Investment Management LLC grew its holdings in Core Scientific by 4.5% in the 4th quarter. Voloridge Investment Management LLC now owns 4,048,932 shares of the company’s stock worth $56,887,000 after acquiring an additional 175,587 shares during the last quarter. Finally, Vennlight Capital Management LP purchased a new position in shares of Core Scientific in the fourth quarter valued at about $6,073,000.

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.