Core Scientific (NASDAQ:CORZ) Price Target Raised to $19.00 at Macquarie

Core Scientific (NASDAQ:CORZ) had its price target raised by Macquarie from $16.00 to $19.00 in a research note released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts also recently commented on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 target price on shares of Core Scientific in a research report on Thursday, November 7th. Needham & Company LLC lifted their price target on shares of Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. B. Riley increased their price objective on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. HC Wainwright lifted their target price on Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price target on shares of Core Scientific in a research note on Thursday, October 3rd. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, Core Scientific has an average rating of “Buy” and a consensus target price of $18.08.

Core Scientific Price Performance

CORZ stock traded up $0.18 during midday trading on Thursday, reaching $15.62. 3,534,398 shares of the stock were exchanged, compared to its average volume of 8,870,480. The stock has a market capitalization of $4.36 billion and a PE ratio of -2.85. Core Scientific has a 52 week low of $2.61 and a 52 week high of $18.03. The company has a fifty day moving average price of $12.76 and a 200 day moving average price of $9.72.

Insider Activity at Core Scientific

In other news, Director Jarrod M. Patten purchased 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were acquired at an average cost of $9.70 per share, with a total value of $38,800.00. Following the purchase, the director now owns 279,239 shares in the company, valued at $2,708,618.30. This represents a 1.45 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased 12,761 shares of company stock worth $127,080 in the last quarter. Company insiders own 32.00% of the company’s stock.

Institutional Investors Weigh In On Core Scientific

Several hedge funds and other institutional investors have recently modified their holdings of CORZ. P Schoenfeld Asset Management LP acquired a new stake in Core Scientific in the 2nd quarter valued at $4,185,000. Vanguard Group Inc. acquired a new position in shares of Core Scientific during the first quarter valued at about $21,973,000. Blair William & Co. IL bought a new stake in shares of Core Scientific during the first quarter worth about $1,156,000. Van ECK Associates Corp raised its holdings in shares of Core Scientific by 22.9% in the 3rd quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock worth $19,177,000 after acquiring 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% in the 2nd quarter. DeepCurrents Investment Group LLC now owns 255,162 shares of the company’s stock worth $2,373,000 after acquiring an additional 156,162 shares during 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.