BTIG Research Increases Core Scientific (NASDAQ:CORZ) Price Target to $20.00

Core Scientific (NASDAQ:CORZ) had its price objective boosted by equities research analysts at BTIG Research from $19.00 to $20.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target would suggest a potential upside of 24.77% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Compass Point upped their price target on shares of Core Scientific from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Roth Capital upgraded shares of Core Scientific to a “strong-buy” rating in a research report on Thursday, November 14th. Jefferies Financial Group assumed coverage on shares of Core Scientific in a research report on Monday, October 28th. They set a “buy” rating and a $19.00 price target on the stock. 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, Cantor Fitzgerald reissued an “overweight” rating and set 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $18.46.

Core Scientific Stock Down 3.2 %

Shares of NASDAQ CORZ opened at $16.03 on Monday. The firm’s 50-day simple moving average is $15.17 and its 200 day simple moving average is $11.83. The company has a market cap of $4.48 billion and a price-to-earnings ratio of -2.96. Core Scientific has a 12-month low of $2.61 and a 12-month high of $18.63.

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 stock was sold at an average price of $17.10, for a total transaction 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 document filed with the Securities & Exchange Commission, 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 value of $1,901,550.00. Following the sale, the director now directly owns 345,239 shares of the company’s stock, valued at approximately $6,252,278.29. The trade was a 23.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 32.00% of the stock is currently owned by company insiders.

Institutional Trading of Core Scientific

Large investors have recently bought and sold shares of the business. P Schoenfeld Asset Management LP bought a new stake in Core Scientific during the 2nd quarter worth approximately $4,185,000. Highland Peak Capital LLC increased its stake in Core Scientific by 37.9% during the 3rd quarter. Highland Peak Capital LLC now owns 413,584 shares of the company’s stock worth $4,905,000 after purchasing an additional 113,584 shares in the last quarter. Mirabella Financial Services LLP acquired a new position in Core Scientific during the 3rd quarter worth approximately $18,383,000. Van ECK Associates Corp boosted 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 worth $19,177,000 after acquiring an additional 300,942 shares during the last quarter. Finally, DeepCurrents Investment Group LLC boosted its position in Core Scientific by 157.7% during the 2nd quarter. DeepCurrents Investment Group LLC now owns 255,162 shares of the company’s stock worth $2,373,000 after acquiring 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.