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

Core Scientific, Inc. (NASDAQ:CORZ) has been assigned an average recommendation of “Buy” from the fourteen brokerages that are currently 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 1-year target price among brokers that have issued a report on the stock in the last year is $18.46.

CORZ has been the topic of a number of recent research reports. Needham & Company LLC lifted their target price on shares of Core Scientific from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Thursday, November 7th. Sanford C. Bernstein reiterated an “outperform” rating and set a $17.00 target price on shares of Core Scientific in a research note on Tuesday, September 10th. Canaccord Genuity Group assumed coverage on Core Scientific in a research report on Monday, September 23rd. They issued a “buy” rating and a $16.00 price target on the stock. Finally, Jefferies Financial Group started coverage on Core Scientific in a research report on Monday, October 28th. They set a “buy” rating and a $19.00 price objective for the company.

Insiders Place Their Bets

In other Core Scientific news, insider Todd M. Duchene sold 25,000 shares of the 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 directly owns 1,661,474 shares of the company’s stock, valued at approximately $28,411,205.40. This trade represents a 1.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Yadin Rozov sold 105,000 shares of Core Scientific stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the sale, the director now owns 345,239 shares of the company’s stock, valued at approximately $6,252,278.29. The trade was a 23.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 32.00% of the stock is currently owned by company insiders.

Institutional Trading of Core Scientific

Several large investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in shares of Core Scientific in the 2nd quarter worth about $28,000. Sunbelt Securities Inc. acquired a new position in Core Scientific during the second quarter worth about $33,000. Divisadero Street Capital Management LP purchased a new stake in shares of Core Scientific in the second quarter valued at about $93,000. Rise Advisors LLC grew its position in shares of Core Scientific by 14.3% in the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock valued at $95,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Xponance Inc. purchased a new position in shares of Core Scientific during the 2nd quarter worth approximately $104,000.

Core Scientific Stock Up 6.5 %

CORZ opened at $16.56 on Friday. Core Scientific has a 52 week low of $2.61 and a 52 week high of $18.63. The business’s 50 day moving average is $15.08 and its two-hundred day moving average is $11.75. The firm has a market cap of $4.62 billion and a price-to-earnings ratio of -3.02.

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.