Core Scientific (NASDAQ:CORZ) Raised to Strong-Buy at Zacks Investment Research

Core Scientific (NASDAQ:CORZGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday, Zacks.com reports. The brokerage currently has a $4.25 price target on the stock.

According to Zacks, “Core Scientific Holding Co. provides customizable infrastructure and software solutions to customers for blockchain hosting and digital asset mining. Core Scientific Holding Co., formerly known as Power & Digital Infrastructure Acquisition Corp., is based in AUSTIN, Texas. “

Several other equities analysts have also recently issued reports on CORZ. BTIG Research began coverage on shares of Core Scientific in a research report on Thursday, February 24th. They set a “buy” rating and a $18.00 price target on the stock. B. Riley boosted their price target on shares of Core Scientific from $15.00 to $16.00 in a research report on Thursday, March 17th.

Shares of NASDAQ CORZ traded up 0.14 during midday trading on Thursday, hitting 3.88. 2,364,283 shares of the company traded hands, compared to its average volume of 2,463,788. Core Scientific has a 12-month low of 3.09 and a 12-month high of 14.98. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.95 and a quick ratio of 0.32. The firm has a 50-day moving average of 7.03.

A number of institutional investors and hedge funds have recently made changes to their positions in CORZ. Joel Isaacson & Co. LLC purchased a new stake in Core Scientific in the first quarter worth about $75,000. Empowered Funds LLC purchased a new stake in Core Scientific in the first quarter worth about $1,578,000. Sfmg LLC purchased a new stake in Core Scientific in the first quarter worth about $4,539,000. Exchange Traded Concepts LLC purchased a new stake in Core Scientific in the first quarter worth about $5,886,000. Finally, Mad River Investors purchased a new stake in Core Scientific in the first quarter worth about $1,303,000.

Core Scientific Company Profile (Get Rating)

Core Scientific, Inc provides net carbon-neutral blockchain infrastructure and digital asset mining solutions in North America. It operates in two segments, Equipment Sales and Hosting. It offers blockchain hosting services with deployment and provide power, racks, proprietary thermodynamic management, redundant connectivity, and 24/7 security, as well as its proprietary software platforms, such as Minder and MinderOS, which provides infrastructure management and custom firmware; and digital asset mining operation focuses on the generation of digital assets by solving complex cryptographic algorithms to validate transactions on specific digital asset network blockchains.

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