Roth Capital Upgrades Core Scientific (NASDAQ:CORZ) to Strong-Buy

Core Scientific (NASDAQ:CORZ) was upgraded by research analysts at Roth Capital to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Macquarie upped their price target on shares of Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday. B. Riley boosted their price target on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group initiated coverage on Core Scientific in a research report on Monday, September 23rd. They issued a “buy” rating and a $16.00 price objective on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Core Scientific in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group initiated coverage on shares of Core Scientific in a report on Monday, October 28th. They issued a “buy” rating and a $19.00 price objective for the company. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $18.38.

Core Scientific Trading Up 2.5 %

Shares of NASDAQ:CORZ traded up $0.39 on Thursday, reaching $15.83. 7,901,672 shares of the company traded hands, compared to its average volume of 8,891,639. Core Scientific has a 52 week low of $2.61 and a 52 week high of $18.03. The business’s 50-day simple moving average is $12.99 and its 200 day simple moving average is $9.84. The stock has a market capitalization of $4.42 billion and a P/E ratio of -2.93.

Insider Transactions at Core Scientific

In other Core Scientific 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 price of $9.68 per share, with a total value of $48,603.28. Following the transaction, the director now owns 285,760 shares in the company, valued at $2,766,156.80. This represents a 1.79 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders purchased a total of 12,761 shares of company stock valued at $127,080 in the last quarter. 32.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

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