Core Scientific, Inc. (NASDAQ:CORZ) Given Consensus Rating of “Buy” by Brokerages

Shares of Core Scientific, Inc. (NASDAQ:CORZ) have earned an average recommendation of “Buy” from the fourteen research firms that are presently covering the firm, MarketBeat reports. Thirteen investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $18.46.

CORZ has been the topic of several research analyst reports. B. Riley raised their price objective on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Macquarie raised their price objective on Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Needham & Company LLC raised their price objective on Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. BTIG Research raised their price objective on Core Scientific from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 target price on shares of Core Scientific in a report on Thursday, November 7th.

Core Scientific Stock Down 0.1 %

CORZ stock opened at $14.04 on Wednesday. The business’s fifty day moving average is $15.66 and its 200-day moving average is $12.65. The company has a market cap of $3.92 billion and a P/E ratio of -2.60. Core Scientific has a twelve month low of $2.61 and a twelve month high of $18.63.

Insider Activity

In related news, insider Todd M. Duchene sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total value of $427,500.00. Following the completion of the sale, the insider now directly owns 1,661,474 shares in the company, valued at approximately $28,411,205.40. This trade represents a 1.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Adam Taylor Sullivan sold 88,380 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.24, for a total transaction of $1,258,531.20. Following the completion of the sale, the chief executive officer now owns 4,128,505 shares of the company’s stock, valued at $58,789,911.20. This trade represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 348,241 shares of company stock worth $5,436,802 in the last quarter. Corporate insiders own 32.00% of the company’s stock.

Institutional Investors Weigh In On Core Scientific

Hedge funds have recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new stake in Core Scientific during the second quarter worth approximately $33,000. Divisadero Street Capital Management LP acquired a new stake in Core Scientific during the second quarter worth approximately $93,000. Rise Advisors LLC lifted its position in Core Scientific by 14.3% during the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock worth $95,000 after acquiring an additional 1,000 shares during the last quarter. Xponance Inc. acquired a new stake in Core Scientific during the second quarter worth approximately $104,000. Finally, Amalgamated Bank acquired a new stake in Core Scientific during the second quarter worth approximately $115,000.

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.