Roth Mkm Initiates Coverage on Core Scientific (NASDAQ:CORZ)

Roth Mkm assumed coverage on shares of Core Scientific (NASDAQ:CORZ) in a report published on Friday morning, Marketbeat reports. The brokerage issued a buy rating and a $25.50 target price on the stock.

Several other brokerages also recently weighed in on CORZ. Sanford C. Bernstein reissued an “outperform” rating and issued a $17.00 target price on shares of Core Scientific in a research note on Tuesday, September 10th. 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 report on Thursday, November 7th. Jefferies Financial Group started coverage on Core Scientific in a report on Monday, October 28th. They issued a “buy” rating and a $19.00 price target for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 target price on shares of Core Scientific in a research report on Thursday, November 7th. Finally, 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. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $18.38.

Core Scientific Stock Down 1.5 %

Shares of NASDAQ:CORZ opened at $15.60 on Friday. Core Scientific has a fifty-two week low of $2.61 and a fifty-two week high of $18.03. The company has a market cap of $4.36 billion and a price-to-earnings ratio of -2.88. The firm’s 50-day simple moving average is $12.99 and its 200-day simple moving average is $9.94.

Insider Buying and Selling at Core Scientific

In other news, Director Jarrod M. Patten purchased 5,021 shares of Core Scientific stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $9.68 per share, with a total value of $48,603.28. Following the completion of the acquisition, the director now owns 285,760 shares in the company, valued at $2,766,156.80. The trade was a 1.79 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased a total of 12,761 shares of company stock worth $127,080 over the last ninety days. Company insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

Several hedge funds have recently bought and sold shares of the company. ORG Wealth Partners LLC acquired a new stake in Core Scientific in the third quarter worth about $106,266,000. Vanguard Group Inc. purchased a new stake in Core Scientific during the first quarter valued at about $21,973,000. Parsifal Capital Management LP raised its stake in Core Scientific by 3.9% during the 3rd quarter. Parsifal Capital Management LP now owns 5,412,825 shares of the company’s stock valued at $64,196,000 after purchasing an additional 204,314 shares during the period. Geode Capital Management LLC grew its stake in Core Scientific by 26.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,276,573 shares of the company’s stock valued at $62,594,000 after acquiring an additional 1,113,285 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Core Scientific by 17.0% during the 3rd quarter. State Street Corp now owns 4,006,922 shares of the company’s stock valued at $47,522,000 after acquiring an additional 583,493 shares in 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.