Core Scientific, Inc. (NASDAQ:CORZ) Receives $18.38 Average Target Price from Brokerages

Shares of Core Scientific, Inc. (NASDAQ:CORZ) have been given a consensus recommendation of “Buy” by the fourteen analysts that are currently covering the company, MarketBeat Ratings 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 twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $18.38.

A number of equities analysts have recently commented on CORZ shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 price target on shares of Core Scientific in a report on Thursday, October 3rd. B. Riley lifted their price objective on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Roth Capital raised Core Scientific to a “strong-buy” rating in a research note on Thursday, November 14th. Jefferies Financial Group initiated coverage on Core Scientific in a research note on Monday, October 28th. They set a “buy” rating and a $19.00 price objective for the company. Finally, HC Wainwright lifted their price objective on Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Core Scientific Price Performance

NASDAQ:CORZ opened at $18.11 on Tuesday. The business has a fifty day simple moving average of $13.67 and a two-hundred day simple moving average of $10.42. Core Scientific has a 1 year low of $2.61 and a 1 year high of $18.51. The company has a market capitalization of $5.06 billion and a P/E ratio of -3.35.

Insider Activity at Core Scientific

In related news, Director Jarrod M. Patten bought 5,021 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $9.68 per share, for a total transaction of $48,603.28. Following the completion of the transaction, the director now owns 285,760 shares of the company’s stock, valued at approximately $2,766,156.80. This trade represents a 1.79 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yadin Rozov sold 105,000 shares of Core Scientific stock in a transaction on 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 transaction, the director now owns 345,239 shares in the company, valued at $6,252,278.29. This trade represents a 23.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 12,761 shares of company stock worth $127,080.

Hedge Funds Weigh In On Core Scientific

Several large investors have recently made changes to their positions in CORZ. Banque Cantonale Vaudoise purchased a new position in shares of Core Scientific in the second quarter valued at about $28,000. Aspect Partners LLC purchased a new position in shares of Core Scientific in the first quarter valued at about $29,000. Sunbelt Securities Inc. purchased a new position in shares of Core Scientific in the second quarter valued at about $33,000. Rise Advisors LLC bought a new position in shares of Core Scientific during the second quarter worth $65,000. Finally, Divisadero Street Capital Management LP purchased a new position in Core Scientific during the second quarter valued at $93,000.

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.