Core Scientific (NASDAQ:CORZ) Upgraded by Roth Capital to Strong-Buy Rating

Roth Capital upgraded shares of Core Scientific (NASDAQ:CORZ) to a strong-buy rating in a report issued on Thursday morning,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity Group restated a “buy” rating and set a $17.00 price target on shares of Core Scientific in a report on Thursday, November 7th. Needham & Company LLC lifted their price target on Core Scientific from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $17.00 target price on shares of Core Scientific in a report on Tuesday, September 10th. HC Wainwright boosted their price objective on Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Roth Mkm began coverage on shares of Core Scientific in a research report on Friday. They issued a “buy” rating and a $25.50 target price for the company. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $18.38.

Core Scientific Price Performance

Shares of NASDAQ CORZ opened at $15.83 on Thursday. The stock has a market capitalization of $4.42 billion and a P/E ratio of -2.93. Core Scientific has a 1 year low of $2.61 and a 1 year high of $18.03. The company has a 50-day moving average price of $12.99 and a 200-day moving average price of $9.89.

Insider Buying and Selling at Core Scientific

In other news, Director Jarrod M. Patten bought 5,021 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of $9.68 per share, with a total value of $48,603.28. Following the transaction, the director now owns 285,760 shares of the company’s stock, valued at approximately $2,766,156.80. The trade was a 1.79 % 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. Over the last quarter, insiders have bought 12,761 shares of company stock worth $127,080. 32.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Core Scientific

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. P Schoenfeld Asset Management LP purchased a new stake in Core Scientific in the second quarter worth about $4,185,000. Vanguard Group Inc. bought a new stake in shares of Core Scientific in the 1st quarter worth approximately $21,973,000. Blair William & Co. IL purchased a new stake in shares of Core Scientific in the 1st quarter worth approximately $1,156,000. Van ECK Associates Corp increased its position in Core Scientific by 22.9% during the 3rd 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 in the last quarter. Finally, DeepCurrents Investment Group LLC raised its stake in Core Scientific by 157.7% during the second quarter. DeepCurrents Investment Group LLC now owns 255,162 shares of the company’s stock valued at $2,373,000 after buying an additional 156,162 shares during 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.