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

Core Scientific (NASDAQ:CORZ) had its target price raised by investment analysts at BTIG Research from $15.00 to $19.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 20.03% from the company’s previous close.

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

Core Scientific Trading Up 2.5 %

CORZ opened at $15.83 on Friday. The company has a market cap of $4.42 billion and a P/E ratio of -2.93. The company’s 50 day moving average is $12.99 and its 200-day moving average is $9.84. Core Scientific has a 1-year low of $2.61 and a 1-year high of $18.03.

Insiders Place Their Bets

In other news, Director Jarrod M. Patten bought 5,021 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $9.68 per share, for a total transaction of $48,603.28. Following the completion of the acquisition, the director now directly owns 285,760 shares in the company, valued at approximately $2,766,156.80. This represents a 1.79 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders bought 12,761 shares of company stock worth $127,080. 32.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CORZ. Blair William & Co. IL bought a new stake in shares of Core Scientific during the 1st quarter valued at about $1,156,000. Dorsey & Whitney Trust CO LLC acquired a new position in Core Scientific in the first quarter valued at approximately $122,000. Vanguard Group Inc. bought a new position in shares of Core Scientific during the 1st quarter worth approximately $21,973,000. Vident Advisory LLC bought 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 1st quarter valued at $1,000,000.

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.