Macquarie Issues Positive Forecast for Core Scientific (NASDAQ:CORZ) Stock Price

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

Other equities research analysts have also issued research reports about the stock. HC Wainwright increased their price objective 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. B. Riley increased their price target on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 price objective on shares of Core Scientific in a research report on Thursday, November 7th. Needham & Company LLC raised their target price on Core Scientific from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group started coverage on Core Scientific in a research note on Monday, October 28th. They set a “buy” rating and a $19.00 target price on the stock. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Core Scientific presently has a consensus rating of “Buy” and an average target price of $18.08.

Core Scientific Price Performance

Shares of NASDAQ CORZ traded up $0.18 during trading on Thursday, hitting $15.62. The stock had a trading volume of 3,534,398 shares, compared to its average volume of 8,870,480. The firm has a fifty day moving average of $12.76 and a two-hundred day moving average of $9.72. Core Scientific has a 12 month low of $2.61 and a 12 month high of $18.03. The company has a market capitalization of $4.36 billion and a PE ratio of -2.85.

Insider Activity

In related news, Director Jarrod M. Patten bought 5,021 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $9.68 per share, with a total value of $48,603.28. Following the completion of the purchase, the director now directly owns 285,760 shares of the company’s stock, valued at $2,766,156.80. This trade represents a 1.79 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders bought 12,761 shares of company stock worth $127,080 in the last three months. Corporate insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

A number of hedge funds have recently made changes to their positions in the stock. P Schoenfeld Asset Management LP bought a new stake in Core Scientific during the second quarter worth about $4,185,000. Vanguard Group Inc. purchased a new position in shares of Core Scientific during the 1st quarter valued at about $21,973,000. Blair William & Co. IL purchased a new stake in Core Scientific in the first quarter worth approximately $1,156,000. Van ECK Associates Corp grew its position in Core Scientific by 22.9% during the third quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock valued at $19,177,000 after acquiring an additional 300,942 shares during the last quarter. Finally, DeepCurrents Investment Group LLC raised its stake in shares of Core Scientific by 157.7% during the second quarter. DeepCurrents Investment Group LLC now owns 255,162 shares of the company’s stock worth $2,373,000 after acquiring an additional 156,162 shares in the last quarter.

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.