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

Core Scientific, Inc. (NASDAQ:CORZ) has been given a consensus rating of “Buy” by the fourteen research firms that are covering the stock, MarketBeat Ratings reports. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $18.46.

A number of analysts recently weighed in on the company. Canaccord Genuity Group started coverage on Core Scientific in a research report on Monday, September 23rd. They issued a “buy” rating and a $16.00 target price for the company. Roth Capital upgraded shares of Core Scientific to a “strong-buy” rating in a report on Thursday, November 14th. B. Riley raised their target price on Core Scientific from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC raised their target price on shares of Core Scientific from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group assumed coverage on Core Scientific in a report on Monday, October 28th. They issued a “buy” rating and a $19.00 price objective for the company.

Insider Buying and Selling at Core Scientific

In other Core Scientific news, Director Yadin Rozov sold 105,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $18.11, for a total transaction of $1,901,550.00. Following the sale, the director now directly owns 345,239 shares of the company’s stock, valued at $6,252,278.29. The trade was a 23.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Todd M. Duchene sold 25,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.10, for a total value of $427,500.00. Following the sale, the insider now owns 1,661,474 shares in the company, valued at $28,411,205.40. The trade was a 1.48 % decrease in their position. The disclosure for this sale can be found here. 32.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Core Scientific

Institutional investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in shares of Core Scientific during the 2nd quarter worth approximately $28,000. Sunbelt Securities Inc. purchased a new position in shares of Core Scientific in the 2nd quarter valued at $33,000. Divisadero Street Capital Management LP bought a new stake in Core Scientific during the second quarter valued at about $93,000. Rise Advisors LLC grew its stake in Core Scientific by 14.3% in the third quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock valued at $95,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Xponance Inc. acquired a new stake in Core Scientific in the second quarter valued at approximately $104,000.

Core Scientific Stock Performance

Shares of CORZ opened at $14.45 on Friday. Core Scientific has a 52-week low of $2.61 and a 52-week high of $18.63. The stock has a market capitalization of $4.04 billion and a price-to-earnings ratio of -2.67. The stock’s 50-day simple moving average is $15.24 and its 200 day simple moving average is $11.91.

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.