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

Shares of Core Scientific, Inc. (NASDAQ:CORZ) have earned an average recommendation of “Buy” from the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $18.38.

CORZ has been the subject of a number of recent analyst reports. BTIG Research raised their price objective on shares of Core Scientific from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday. Jefferies Financial Group began 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. HC Wainwright upped 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 target price on shares of Core Scientific in a report on Thursday, October 3rd. Finally, Macquarie upped their price target on shares of Core Scientific from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th.

Core Scientific Stock Down 1.5 %

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

Insider Buying and Selling

In related news, Director Jarrod M. Patten purchased 5,021 shares of the company’s stock in a transaction on 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 transaction, the director now owns 285,760 shares of the company’s stock, valued at approximately $2,766,156.80. This represents a 1.79 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 12,761 shares of company stock worth $127,080 in the last ninety days. Insiders own 32.00% of the company’s stock.

Institutional Trading of Core Scientific

A number of large investors have recently made changes to their positions in CORZ. ORG Wealth Partners LLC purchased a new position in Core Scientific in the 3rd quarter valued at about $106,266,000. Vanguard Group Inc. purchased a new position in shares of Core Scientific during the first quarter valued at approximately $21,973,000. Rush Island Management LP purchased a new position in shares of Core Scientific during the third quarter valued at approximately $32,221,000. Kensico Capital Management Corp purchased a new stake in Core Scientific in the 1st quarter worth approximately $18,513,000. Finally, Taconic Capital Advisors LP grew its stake in Core Scientific by 178.7% in the 3rd quarter. Taconic Capital Advisors LP now owns 2,717,462 shares of the company’s stock worth $32,229,000 after acquiring an additional 1,742,462 shares during the period.

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.