Core Scientific (NASDAQ:CORZ) Given New $20.00 Price Target at BTIG Research

Core Scientific (NASDAQ:CORZ) had its price objective raised by BTIG Research from $19.00 to $20.00 in a research note published on Monday,Benzinga reports. BTIG Research currently has a buy rating on the stock.

CORZ has been the topic of several other research reports. Needham & Company LLC increased their price target on Core Scientific from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 target price on shares of Core Scientific in a research report on Thursday, October 3rd. HC Wainwright upped their price target on Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Roth Mkm initiated coverage on shares of Core Scientific in a research note on Friday, November 15th. They issued a “buy” rating and a $25.50 price objective for the company. Finally, Canaccord Genuity Group started coverage on Core Scientific in a research report on Monday, September 23rd. They set a “buy” rating and a $16.00 target price for the company. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $18.46.

Core Scientific Stock Up 6.5 %

Shares of CORZ opened at $16.56 on Monday. The firm has a market cap of $4.62 billion and a price-to-earnings ratio of -3.02. Core Scientific has a 12 month low of $2.61 and a 12 month high of $18.63. The company’s fifty day moving average is $15.08 and its 200-day moving average is $11.75.

Insider Activity

In other Core Scientific news, Director Yadin Rozov sold 105,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total value of $1,901,550.00. Following the sale, the director now directly owns 345,239 shares in the company, valued at approximately $6,252,278.29. This trade represents a 23.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Todd M. Duchene sold 25,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total transaction 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 $28,411,205.40. This trade represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. 32.00% of the stock is currently owned by insiders.

Institutional Trading of Core Scientific

Several hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC increased its holdings in shares of Core Scientific by 130.1% in the third quarter. Sanctuary Advisors LLC now owns 34,527 shares of the company’s stock worth $409,000 after acquiring an additional 19,522 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Core Scientific in the 3rd quarter valued at approximately $194,000. Geode Capital Management LLC increased its stake in Core Scientific by 26.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock worth $62,594,000 after purchasing an additional 1,113,285 shares in the last quarter. Sender Co & Partners Inc. acquired a new stake in Core Scientific during the 3rd quarter worth approximately $2,426,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Core Scientific in the third quarter valued at approximately $1,459,000.

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.