Core Scientific (NASDAQ:CORZ) Price Target Raised to $19.00

Core Scientific (NASDAQ:CORZ) had its price objective boosted by BTIG Research from $15.00 to $19.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

CORZ has been the topic of several other research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a report on Thursday, November 7th. Canaccord Genuity Group started coverage on shares of Core Scientific in a research note on Monday, September 23rd. They set a “buy” rating and a $16.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price target on shares of Core Scientific in a research note on Thursday, October 3rd. Compass Point raised their price objective on shares of Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group started coverage on Core Scientific in a report on Monday, October 28th. They set a “buy” rating and a $19.00 target price on the stock. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Core Scientific has a consensus rating of “Buy” and a consensus price target of $18.38.

Core Scientific Stock Performance

Shares of CORZ stock opened at $15.83 on Friday. Core Scientific has a fifty-two week low of $2.61 and a fifty-two week high of $18.03. The firm has a market cap of $4.42 billion and a P/E ratio of -2.93. The business’s 50 day moving average price is $12.99 and its 200-day moving average price is $9.89.

Insider Buying and Selling

In related news, Director Jarrod M. Patten purchased 5,021 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of $9.68 per share, with a total value of $48,603.28. Following the transaction, the director now directly owns 285,760 shares in the company, valued at $2,766,156.80. This trade represents a 1.79 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 12,761 shares of company stock worth $127,080 in the last 90 days. Insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

Several institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new position in shares of Core Scientific during the second quarter valued at $28,000. Aspect Partners LLC purchased a new position in Core Scientific during the first quarter valued at $29,000. Sunbelt Securities Inc. bought a new position in shares of Core Scientific during the 2nd quarter valued at approximately $33,000. Rise Advisors LLC bought a new position in shares of Core Scientific in the second quarter worth approximately $65,000. Finally, Divisadero Street Capital Management LP purchased a new stake in Core Scientific in the 2nd quarter worth $93,000.

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.