Core Scientific (NASDAQ:CORZ) Raised to “Strong-Buy” at Roth Capital

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

A number of other analysts have also recently weighed in on CORZ. HC Wainwright increased their price objective on Core Scientific from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Roth Mkm started coverage on shares of Core Scientific in a research note on Friday. They issued a “buy” rating and a $25.50 price objective on the stock. Canaccord Genuity Group assumed coverage on shares of Core Scientific in a research note on Monday, September 23rd. They issued a “buy” rating and a $16.00 target price for the company. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 price target on shares of Core Scientific in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of Core Scientific in a report on Thursday, October 3rd. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $18.38.

Core Scientific Stock Performance

Shares of NASDAQ:CORZ opened at $15.83 on Thursday. Core Scientific has a one year low of $2.61 and a one year high of $18.03. The stock has a market capitalization of $4.42 billion and a price-to-earnings ratio of -2.93. The company has a 50-day simple moving average of $12.99 and a 200-day simple moving average of $9.84.

Insider Activity

In other news, Director Jarrod M. Patten purchased 4,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were bought at an average cost of $9.70 per share, with a total value of $38,800.00. Following the purchase, the director now directly owns 279,239 shares of the company’s stock, valued at approximately $2,708,618.30. This trade represents a 1.45 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought a total of 12,761 shares of company stock worth $127,080 over the last 90 days. 32.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Core Scientific

A number of hedge funds have recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new position in shares of Core Scientific during the 2nd quarter worth $28,000. Aspect Partners LLC purchased a new stake in shares of Core Scientific in the first quarter valued at $29,000. Sunbelt Securities Inc. acquired a new position in Core Scientific in the second quarter valued at $33,000. Rise Advisors LLC purchased a new position in Core Scientific during the second quarter worth about $65,000. Finally, Divisadero Street Capital Management LP purchased a new stake in Core Scientific in the 2nd quarter valued at about $93,000.

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.