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

Shares of Core Scientific, Inc. (NASDAQ:CORZ) have earned a consensus rating of “Buy” from the fourteen research firms that are covering the stock, MarketBeat.com reports. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $18.38.

A number of equities analysts have commented on CORZ shares. HC Wainwright boosted their price objective on Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Macquarie upped their price target on Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Needham & Company LLC upped their price target on Core Scientific from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. B. Riley upped their price target on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research note on Thursday, November 7th.

Core Scientific Price Performance

Shares of NASDAQ:CORZ opened at $18.11 on Tuesday. The business’s fifty day moving average price is $13.67 and its two-hundred day moving average price is $10.42. Core Scientific has a fifty-two week low of $2.61 and a fifty-two week high of $18.51. The stock has a market capitalization of $5.06 billion and a price-to-earnings ratio of -3.35.

Insider Activity at Core Scientific

In other news, Director Jarrod M. Patten purchased 4,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were acquired at an average price of $9.70 per share, for a total transaction of $38,800.00. Following the completion of the acquisition, the director now owns 279,239 shares in the company, valued at approximately $2,708,618.30. The trade was a 1.45 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Todd M. Duchene sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. The trade was a 1.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have acquired a total of 12,761 shares of company stock worth $127,080 in the last 90 days.

Institutional Trading of Core Scientific

Institutional investors and hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise purchased a new stake in shares of Core Scientific during the second quarter valued at approximately $28,000. Aspect Partners LLC purchased a new stake in shares of Core Scientific during the first quarter valued at approximately $29,000. Sunbelt Securities Inc. purchased a new stake in shares of Core Scientific during the second quarter valued at approximately $33,000. Rise Advisors LLC purchased a new stake in shares of Core Scientific during the second quarter valued at approximately $65,000. Finally, Divisadero Street Capital Management LP purchased a new stake in shares of Core Scientific during the second quarter valued at approximately $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.