Core Scientific, Inc. (NASDAQ:CORZ) Receives $23.69 Consensus Target Price from Analysts

Core Scientific, Inc. (NASDAQ:CORZ) has been given a consensus rating of “Moderate Buy” by the twenty-one brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $23.6944.

Several brokerages recently commented on CORZ. Citizens Jmp raised Core Scientific from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a research report on Thursday, December 18th. Roth Mkm reiterated a “buy” rating on shares of Core Scientific in a report on Friday, October 31st. UBS Group set a $30.00 target price on shares of Core Scientific in a research report on Wednesday, October 22nd. Sanford C. Bernstein upped their target price on shares of Core Scientific from $17.00 to $24.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Finally, B. Riley Financial raised Core Scientific from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Wednesday, October 22nd.

Institutional Investors Weigh In On Core Scientific

Institutional investors have recently modified their holdings of the stock. Allworth Financial LP boosted its stake in shares of Core Scientific by 206.5% in the 3rd quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after buying an additional 950 shares during the last quarter. Larson Financial Group LLC grew its position in Core Scientific by 936.7% in the fourth quarter. Larson Financial Group LLC now owns 1,866 shares of the company’s stock worth $27,000 after acquiring an additional 1,686 shares in the last quarter. HHM Wealth Advisors LLC lifted its stake in Core Scientific by 96.5% in the second quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company’s stock worth $33,000 after purchasing an additional 946 shares during the last quarter. Osaic Holdings Inc. grew its stake in Core Scientific by 112.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock worth $34,000 after acquiring an additional 1,066 shares in the last quarter. Finally, Danske Bank A S bought a new position in Core Scientific during the 4th quarter worth about $36,000.

Core Scientific Stock Up 2.1%

Shares of CORZ opened at $17.84 on Thursday. The stock’s fifty day simple moving average is $16.96 and its 200-day simple moving average is $16.66. The firm has a market capitalization of $5.53 billion, a PE ratio of 118.94 and a beta of 6.86. Core Scientific has a 12-month low of $6.20 and a 12-month high of $23.63.

About Core Scientific

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.