Core Scientific (NASDAQ:CORZ) Price Target Raised to $18.00

Core Scientific (NASDAQ:CORZ) had its target price increased by Needham & Company LLC from $17.00 to $18.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

CORZ has been the subject of a number of other reports. Compass Point upped their target price on shares of Core Scientific from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. B. Riley upped their target price on shares of Core Scientific from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. HC Wainwright increased 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. Macquarie assumed coverage on shares of Core Scientific in a research note on Wednesday, September 25th. They set an “outperform” rating and a $16.00 price objective on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price objective on shares of Core Scientific in a research note on Thursday, October 3rd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $17.21.

Core Scientific Trading Up 3.0 %

Shares of CORZ stock opened at $16.96 on Thursday. Core Scientific has a 12 month low of $2.61 and a 12 month high of $17.01. The company has a market cap of $4.74 billion and a P/E ratio of -3.13. The firm has a fifty day moving average price of $12.34 and a 200 day moving average price of $9.48.

Insider Transactions at Core Scientific

In related news, Director Jarrod M. Patten purchased 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was acquired at an average price of $9.70 per share, for a total transaction of $38,800.00. Following the completion of the purchase, the director now owns 279,239 shares in the company, valued at approximately $2,708,618.30. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Core Scientific news, Director Jarrod M. Patten bought 5,021 shares of the stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $9.68 per share, for a total transaction of $48,603.28. Following the completion of the purchase, the director now directly owns 285,760 shares in the company, valued at approximately $2,766,156.80. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jarrod M. Patten purchased 4,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were purchased at an average price of $9.70 per share, with a total value of $38,800.00. Following the transaction, the director now directly owns 279,239 shares of the company’s stock, valued at approximately $2,708,618.30. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 12,761 shares of company stock valued at $127,080. Corporate insiders own 32.00% of the company’s stock.

Hedge Funds Weigh In On Core Scientific

Several institutional investors have recently modified their holdings of the company. P Schoenfeld Asset Management LP acquired a new stake in Core Scientific in the second quarter worth about $4,185,000. Vanguard Group Inc. acquired a new stake in Core Scientific in the first quarter worth about $21,973,000. Blair William & Co. IL acquired a new stake in Core Scientific in the 1st quarter valued at about $1,156,000. Van ECK Associates Corp lifted its holdings in Core Scientific by 22.9% in the 3rd 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 lifted its holdings in Core Scientific by 157.7% in the 2nd quarter. DeepCurrents Investment Group LLC now owns 255,162 shares of the company’s stock valued at $2,373,000 after acquiring an additional 156,162 shares during 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.