Analysts Set Core Scientific, Inc. (NASDAQ:CORZ) Price Target at $18.46

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

Several research firms have issued reports on CORZ. Jefferies Financial Group began coverage on shares of Core Scientific in a research note on Monday, October 28th. They set a “buy” rating and a $19.00 target price on the stock. B. Riley upped their target price on shares of Core Scientific from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC upped their target price on shares of Core Scientific from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. BTIG Research upped their target price on shares of Core Scientific from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Roth Mkm began coverage on shares of Core Scientific in a research note on Friday, November 15th. They set a “buy” rating and a $25.50 target price on the stock.

Insider Activity

In related news, insider Todd M. Duchene sold 25,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 1,661,474 shares of the company’s stock, valued at approximately $28,411,205.40. This represents a 1.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Yadin Rozov sold 105,000 shares of the 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 completion of the sale, the director now directly owns 345,239 shares of the company’s stock, valued at $6,252,278.29. This represents a 23.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 348,241 shares of company stock valued at $5,436,802 in the last quarter. 32.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Core Scientific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. purchased a new stake in Core Scientific during the 2nd quarter valued at approximately $33,000. Rise Advisors LLC grew its holdings in Core Scientific by 14.3% during the 3rd quarter. Rise Advisors LLC now owns 8,000 shares of the company’s stock valued at $95,000 after buying an additional 1,000 shares in the last quarter. Divisadero Street Capital Management LP purchased a new stake in Core Scientific during the 2nd quarter valued at approximately $93,000. Arkadios Wealth Advisors purchased a new stake in Core Scientific during the 3rd quarter valued at approximately $119,000. Finally, Doliver Advisors LP purchased a new stake in Core Scientific during the 3rd quarter valued at approximately $124,000.

Core Scientific Price Performance

Shares of Core Scientific stock opened at $14.04 on Wednesday. The stock has a market cap of $3.92 billion and a price-to-earnings ratio of -2.60. The firm’s 50-day moving average is $15.66 and its 200 day moving average is $12.61. Core Scientific has a 1 year low of $2.61 and a 1 year high of $18.63.

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.