Core Scientific, Inc. (NASDAQ:CORZ) Receives $18.46 Average PT from Analysts

Shares of Core Scientific, Inc. (NASDAQ:CORZ) have been given a consensus rating of “Buy” by the fourteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Thirteen analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $18.46.

A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 price target on shares of Core Scientific in a research report on Thursday, November 7th. BTIG Research lifted their price target on shares of Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Macquarie lifted their price target on shares of Core Scientific from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Roth Mkm assumed coverage on shares of Core Scientific in a research report on Friday, November 15th. They issued a “buy” rating and a $25.50 price target for the company. Finally, HC Wainwright lifted their price target on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Insiders Place Their Bets

In other Core Scientific news, Director Yadin Rozov sold 105,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the sale, the director now owns 345,239 shares of the company’s stock, valued at approximately $6,252,278.29. The trade was a 23.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Todd M. Duchene sold 129,861 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total value of $1,849,220.64. Following the completion of the sale, the insider now owns 2,051,649 shares of the company’s stock, valued at $29,215,481.76. The trade was a 5.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 348,241 shares of company stock valued at $5,436,802. 32.00% of the stock is currently owned by insiders.

Institutional Trading of Core Scientific

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rise Advisors LLC increased its holdings in Core Scientific by 14.3% in the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock valued at $95,000 after purchasing an additional 1,000 shares during the period. Sunbelt Securities Inc. acquired a new stake in Core Scientific in the second quarter valued at $33,000. Vontobel Holding Ltd. boosted its position in Core Scientific by 10.4% during the third quarter. Vontobel Holding Ltd. now owns 38,089 shares of the company’s stock valued at $452,000 after acquiring an additional 3,591 shares during the last quarter. Harvest Portfolios Group Inc. boosted its position in Core Scientific by 10.1% during the third quarter. Harvest Portfolios Group Inc. now owns 55,881 shares of the company’s stock valued at $663,000 after acquiring an additional 5,109 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. boosted its position in shares of Core Scientific by 25.4% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 30,725 shares of the company’s stock worth $364,000 after purchasing an additional 6,225 shares in the last quarter.

Core Scientific Trading Down 0.1 %

NASDAQ CORZ opened at $14.04 on Wednesday. Core Scientific has a 1-year low of $2.61 and a 1-year high of $18.63. The company has a 50 day moving average of $15.66 and a 200-day moving average of $12.65. The company has a market cap of $3.92 billion and a price-to-earnings ratio of -2.60.

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.