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

Core Scientific (NASDAQ:CORZ) had its price objective upped by Macquarie from $16.00 to $19.00 in a research report sent to investors on Thursday,Benzinga reports. Macquarie currently has an outperform rating on the stock.

Several other research analysts have also recently commented on CORZ. Jefferies Financial Group initiated coverage on Core Scientific in a research report on Monday, October 28th. They issued a “buy” rating and a $19.00 target price for the company. B. Riley raised their price objective on shares of Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Compass Point lifted their target price on shares of Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. HC Wainwright increased their price target on shares of Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Core Scientific in a report on Tuesday, September 10th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $18.38.

Core Scientific Stock Up 2.5 %

Core Scientific stock opened at $15.83 on Thursday. The business has a 50 day moving average price of $12.99 and a two-hundred day moving average price of $9.89. Core Scientific has a 12 month low of $2.61 and a 12 month high of $18.03. The stock has a market cap of $4.42 billion and a price-to-earnings ratio of -2.93.

Insider Transactions at Core Scientific

In other Core Scientific news, Director Jarrod M. Patten bought 5,021 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $9.68 per share, for a total transaction of $48,603.28. Following the completion of the purchase, the director now owns 285,760 shares in the company, valued at $2,766,156.80. This represents a 1.79 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 12,761 shares of company stock valued at $127,080 in the last three months. 32.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Core Scientific

A number of hedge funds have recently added to or reduced their stakes in CORZ. Blair William & Co. IL acquired a new position in shares of Core Scientific during the first quarter worth approximately $1,156,000. Dorsey & Whitney Trust CO LLC bought a new position in Core Scientific in the 1st quarter valued at $122,000. Vanguard Group Inc. acquired a new stake in shares of Core Scientific in the 1st quarter valued at $21,973,000. Vident Advisory LLC acquired a new stake in shares of Core Scientific in the 1st quarter valued at $4,047,000. Finally, Anson Funds Management LP acquired a new position in shares of Core Scientific during the first quarter valued at $1,000,000.

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.