Core Scientific (NASDAQ:CORZ) Price Target Raised to $20.00

Core Scientific (NASDAQ:CORZ) had its price objective boosted by BTIG Research from $19.00 to $20.00 in a research report report published on Monday,Benzinga reports. BTIG Research currently has a buy rating on the stock.

Several other research analysts have also recently commented on the company. B. Riley raised their target price on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Core Scientific in a report on Monday, October 28th. They set a “buy” rating and a $19.00 price objective for the company. HC Wainwright upped their target price on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC increased their price target on shares of Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group started coverage on Core Scientific in a report on Monday, September 23rd. They set a “buy” rating and a $16.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $18.46.

Core Scientific Trading Down 9.9 %

Shares of CORZ stock opened at $14.45 on Monday. Core Scientific has a 12 month low of $2.61 and a 12 month high of $18.63. The company has a market capitalization of $4.04 billion and a P/E ratio of -2.67. The stock has a 50 day moving average of $15.29 and a two-hundred day moving average of $11.93.

Insider Buying and Selling at Core Scientific

In other news, Director Yadin Rozov sold 105,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the transaction, the director now owns 345,239 shares of the company’s stock, valued at $6,252,278.29. This represents a 23.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Todd M. Duchene sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total value of $427,500.00. Following the completion of the transaction, the insider now owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. This represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 32.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CORZ. ORG Wealth Partners LLC acquired a new position in shares of Core Scientific during the 3rd quarter worth about $106,266,000. Parsifal Capital Management LP increased its position in shares of Core Scientific by 3.9% in the 3rd quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company’s stock valued at $64,196,000 after buying an additional 204,314 shares in the last quarter. Geode Capital Management LLC raised its stake in Core Scientific by 26.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after buying an additional 1,113,285 shares during the period. State Street Corp lifted its holdings in Core Scientific by 17.0% during the third quarter. State Street Corp now owns 4,006,922 shares of the company’s stock worth $47,522,000 after acquiring an additional 583,493 shares in the last quarter. Finally, Taconic Capital Advisors LP raised its position in shares of Core Scientific by 178.7% during the third quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock worth $32,229,000 after purchasing an additional 1,742,462 shares during the period.

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.