Analysts Set Core Scientific, Inc. (NASDAQ:CORZ) Price Target at $18.38

Core Scientific, Inc. (NASDAQ:CORZ) has been given an average rating of “Buy” by the fourteen brokerages that are presently covering the stock, MarketBeat.com reports. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $18.38.

Several equities research analysts have commented on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 price objective on shares of Core Scientific in a research note on Thursday, November 7th. Roth Mkm started coverage on Core Scientific in a report on Friday, November 15th. They issued a “buy” rating and a $25.50 price objective on the stock. Macquarie upped their price objective on Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. BTIG Research upped their price target on Core Scientific from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price target on shares of Core Scientific in a research note on Thursday, October 3rd.

Core Scientific Stock Up 1.7 %

Shares of Core Scientific stock opened at $17.55 on Tuesday. Core Scientific has a twelve month low of $2.61 and a twelve month high of $18.35. The business has a 50-day moving average price of $13.38 and a 200 day moving average price of $10.17. The firm has a market cap of $4.90 billion and a PE ratio of -3.19.

Insider Transactions at Core Scientific

In other Core Scientific news, Director Jarrod M. Patten bought 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was acquired at an average price of $9.70 per share, for a total transaction of $38,800.00. Following the completion of the purchase, the director now owns 279,239 shares of the company’s stock, valued at approximately $2,708,618.30. This represents a 1.45 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Todd M. Duchene sold 25,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. Following the sale, the insider now owns 1,661,474 shares of the company’s stock, valued at $28,411,205.40. This trade represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 12,761 shares of company stock worth $127,080. Company insiders own 32.00% of the company’s stock.

Institutional Investors Weigh In On Core Scientific

A number of hedge funds have recently added to or reduced their stakes in CORZ. ORG Wealth Partners LLC acquired a new stake in Core Scientific in the third quarter valued at about $106,266,000. Vanguard Group Inc. acquired a new stake in Core Scientific in the first quarter valued at about $21,973,000. Rush Island Management LP acquired a new stake in Core Scientific in the third quarter valued at about $32,221,000. Kensico Capital Management Corp acquired a new stake in Core Scientific in the first quarter valued at about $18,513,000. Finally, Taconic Capital Advisors LP lifted its position in Core Scientific by 178.7% in the third quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock valued at $32,229,000 after purchasing an additional 1,742,462 shares during the period.

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.