Core Scientific (NASDAQ:CORZ) Stock Price Expected to Rise, BTIG Research Analyst Says

Core Scientific (NASDAQ:CORZ) had its target price upped by BTIG Research from $15.00 to $19.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price would indicate a potential upside of 20.03% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Canaccord Genuity Group assumed coverage on Core Scientific in a research note on Monday, September 23rd. They set a “buy” rating and a $16.00 price objective on the stock. B. Riley upped 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 shares of Core Scientific in a research report on Friday. They issued a “buy” rating and a $25.50 price objective for the company. Compass Point raised their target price on shares of Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research report on Thursday, November 7th. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $18.38.

Core Scientific Stock Performance

CORZ opened at $15.83 on Friday. The business’s 50-day simple moving average is $12.99 and its 200 day simple moving average is $9.84. Core Scientific has a 52-week low of $2.61 and a 52-week high of $18.03. The firm has a market capitalization of $4.42 billion and a PE ratio of -2.93.

Insider Transactions at Core Scientific

In related news, Director Jarrod M. Patten purchased 5,021 shares of Core Scientific stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have acquired 12,761 shares of company stock valued at $127,080. 32.00% of the stock is currently owned by company insiders.

Institutional Trading of Core Scientific

Several large investors have recently modified their holdings of CORZ. Blair William & Co. IL acquired a new position in Core Scientific in the first quarter valued at about $1,156,000. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Core Scientific in the 1st quarter valued at approximately $122,000. Vanguard Group Inc. bought a new stake in shares of Core Scientific during the 1st quarter worth approximately $21,973,000. Vident Advisory LLC bought a new stake in shares of Core Scientific during the 1st quarter worth approximately $4,047,000. Finally, Anson Funds Management LP acquired a new stake in shares of Core Scientific during the 1st quarter worth approximately $1,000,000.

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.