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

Shares of Core Scientific, Inc. (NASDAQ:CORZ) have been given a consensus rating of “Buy” by the fourteen ratings firms that are presently covering the stock, MarketBeat reports. Thirteen analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $18.38.

CORZ has been the subject of several research analyst reports. Roth Capital raised shares of Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Needham & Company LLC increased their target price on Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. B. Riley lifted their target price on Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group assumed coverage on Core Scientific in a research note on Monday, September 23rd. They set a “buy” rating and a $16.00 price target for the company. Finally, Roth Mkm initiated coverage on Core Scientific in a research note on Friday. They issued a “buy” rating and a $25.50 price objective on the stock.

Insider Activity at Core Scientific

In other Core Scientific news, Director Jarrod M. Patten bought 4,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were bought at an average cost of $9.70 per share, with a total value of $38,800.00. Following the transaction, the director now directly owns 279,239 shares in the company, valued at approximately $2,708,618.30. This trade represents a 1.45 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders acquired 12,761 shares of company stock valued at $127,080. Insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise bought a new position in Core Scientific during the 2nd quarter valued at $28,000. Aspect Partners LLC bought a new position in shares of Core Scientific during the first quarter worth about $29,000. Sunbelt Securities Inc. acquired a new position in Core Scientific in the second quarter worth about $33,000. Rise Advisors LLC bought a new stake in Core Scientific in the second quarter valued at about $65,000. Finally, Divisadero Street Capital Management LP bought a new stake in Core Scientific in the second quarter valued at about $93,000.

Core Scientific Price Performance

NASDAQ CORZ opened at $15.60 on Tuesday. The company has a market cap of $4.36 billion and a P/E ratio of -2.88. Core Scientific has a 12 month low of $2.61 and a 12 month high of $18.03. The company has a 50-day moving average of $12.99 and a 200-day moving average of $9.94.

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.