Core Scientific (NASDAQ:CORZ) Coverage Initiated at Roth Mkm

Analysts at Roth Mkm initiated coverage on shares of Core Scientific (NASDAQ:CORZ) in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm set a “buy” rating and a $25.50 price target on the stock. Roth Mkm’s price objective points to a potential upside of 61.09% from the company’s previous close.

A number of other brokerages have also recently weighed in on CORZ. Needham & Company LLC lifted their price target on Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group started coverage on shares of Core Scientific in a report on Monday, October 28th. They set a “buy” rating and a $19.00 price target on the stock. Canaccord Genuity Group initiated coverage on shares of Core Scientific in a research note on Monday, September 23rd. They issued a “buy” rating and a $16.00 price objective for the company. HC Wainwright boosted their target price on shares of Core Scientific from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $17.00 price target on shares of Core Scientific in a report on Tuesday, September 10th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Core Scientific currently has a consensus rating of “Buy” and a consensus price target of $18.38.

Core Scientific Stock Up 2.5 %

CORZ opened at $15.83 on Friday. The firm has a market cap of $4.42 billion and a PE ratio of -2.93. The business has a fifty day simple moving average of $12.99 and a 200-day simple moving average of $9.84. Core Scientific has a fifty-two week low of $2.61 and a fifty-two week high of $18.03.

Insider Activity

In other Core Scientific news, Director Jarrod M. Patten acquired 5,021 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $9.68 per share, with a total value of $48,603.28. Following the completion of the transaction, the director now owns 285,760 shares in the company, valued at $2,766,156.80. The trade was a 1.79 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 12,761 shares of company stock worth $127,080 in the last three months. 32.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of Core Scientific by 26.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock valued at $62,594,000 after purchasing an additional 1,113,285 shares during the last quarter. Sender Co & Partners Inc. bought a new position in Core Scientific during the third quarter valued at about $2,426,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Core Scientific in the third quarter worth about $1,459,000. Anson Funds Management LP bought a new stake in shares of Core Scientific during the 3rd quarter worth about $3,641,000. Finally, Main Management ETF Advisors LLC acquired a new position in shares of Core Scientific during the 3rd quarter valued at about $1,068,000.

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.