Core Scientific, Inc. (NASDAQ:CORZ) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Core Scientific, Inc. (NASDAQ:CORZ) have been assigned a consensus rating of “Buy” from the fourteen analysts that are currently covering the stock, MarketBeat reports. Thirteen investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $18.46.

Several brokerages recently weighed in on CORZ. Jefferies Financial Group started coverage on Core Scientific in a research report on Monday, October 28th. They set a “buy” rating and a $19.00 price objective for the company. Compass Point increased their target price on shares of Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. HC Wainwright upped their price objective on shares of Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Sanford C. Bernstein reissued an “outperform” rating and issued a $17.00 price objective on shares of Core Scientific in a research note on Tuesday, September 10th. Finally, Roth Mkm initiated coverage on shares of Core Scientific in a research note on Friday, November 15th. They set a “buy” rating and a $25.50 target price on the stock.

Core Scientific Price Performance

NASDAQ CORZ opened at $14.13 on Friday. The business has a fifty day moving average price of $15.36 and a two-hundred day moving average price of $12.01. The stock has a market capitalization of $3.95 billion and a PE ratio of -2.61. Core Scientific has a fifty-two week low of $2.61 and a fifty-two week high of $18.63.

Insider Buying and Selling

In other news, Director Yadin Rozov sold 105,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $18.11, for a total value of $1,901,550.00. Following the sale, the director now directly owns 345,239 shares of the company’s stock, valued at approximately $6,252,278.29. This represents a 23.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Todd M. Duchene sold 25,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.10, for a total transaction of $427,500.00. Following the sale, the insider now owns 1,661,474 shares of the company’s stock, valued at approximately $28,411,205.40. This trade represents a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 32.00% of the stock is owned by corporate insiders.

Institutional Trading of Core Scientific

Institutional investors have recently bought and sold shares of the company. P Schoenfeld Asset Management LP bought a new position in shares of Core Scientific in the 2nd quarter worth about $4,185,000. Highland Peak Capital LLC increased its holdings in Core Scientific by 37.9% in the third quarter. Highland Peak Capital LLC now owns 413,584 shares of the company’s stock worth $4,905,000 after purchasing an additional 113,584 shares in the last quarter. Mirabella Financial Services LLP bought a new stake in Core Scientific in the third quarter worth approximately $18,383,000. Van ECK Associates Corp lifted its stake in Core Scientific by 22.9% in the third quarter. Van ECK Associates Corp now owns 1,616,944 shares of the company’s stock valued at $19,177,000 after buying an additional 300,942 shares during the period. Finally, DeepCurrents Investment Group LLC boosted its holdings in shares of Core Scientific by 157.7% during the 2nd quarter. DeepCurrents Investment Group LLC now owns 255,162 shares of the company’s stock worth $2,373,000 after buying an additional 156,162 shares in the last quarter.

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.